BSOV has made great strides within the last day destroying a 38k sell wall at $.062 and continuing to provide buy pressure on the asset. BSOV has had a negative inflation rate through 2021 because hundreds of tokens have been burned while 0 have been mined. At the time of this writing, the burn wallet has 163.8k in it and climbing. The lack of mining because of high opportunity costs provides no downside pressure on the asset. Basic supply and demand are governing the price of BSOV and when supply shrinks and demand rises that is a 1–2 punch on the price. This run is different than all of the previous ones because BSOV cannot as easily be undercut and miners who HODL are waiting at the stand by to plug and chug.
In one day BSOV has shot up over $4k in liquidity on Uniswap. With a market cap fully diluted of $1.5 million, this low float crypto asset has the room to potentially double before mining pressure is able to arbitrage the price action consistently. The next target in my opinion is $.10. If we can break through and hold, this will allow so much to happen with BSOV with LP’s.
Resfinex has been providing the community a great platform to create buy orders and sell orders. To withdraw BSOV the fee is .025 ETH so I recommend if you use Resfinex to make many trades then withdraw. It can potentially be better than Uniswap if the gas makes the trade around $30 per execution. I am bullish on BSOV and plan to HODL like a soldier for years. Cheers to the HODL and assigning value as an early adopter!