BUC BUC Token climb up 83%, holders eyeing for more than 100%+ breakout
A cryptocurrency is more than just the protocols, source code, and utility it provides. In the end, it is a social system that inspires, empowers, and connects people. We set out to build something better after being frustrated by the many half-measures, failures, and broken promises of previous protocols.
BUC Token was established in 2018 with the goal of changing the way cryptocurrencies are designed and developed. Beyond a specific set of innovations, the overall goal is to provide a more balanced and sustainable utility token that better accounts for the needs of its users.
BUC has a circulating supply of 200,000 BUC Tokens and a total supply of 10,000,000 BUC Tokens at the moment, but because BUC tokens are mintable, the maximum supply is not yet defined. BUC Tokens are burned at regular intervals to maintain scarcity in the decentralised marketplace, increasing their relative scarcity and making the BUC token deflationary.
Surge in BUC Token Price
On October 20, 2021, BUC Token price reached an all-time high on BuyUcoin Exchange. In the last 24 hours, the native utility cryptocurrency token has increased by 83.95 percent to trade at INR 55.9. BUC’s rise is linked to BuyUcoin’s rapid growth and recent successful collaborations.
Read the BUC White paper Here:
Key Features of BUC Token
- Token Burn: While many tokens may experience an initial burn after launch, many make coin burns a permanent part of their DNA. The protect and burn mechanism is one of the BUC token’s distinguishing features.
Every month, BuyUcoin reserves 20% of the fees earned in the BuyUcoin EZ OTC & Spot Trading to protect the BUC token’s price. When the price of a token falls into a bearish zone based on the 20-day moving average, BuyUcoin automatically buys it back. These BUCs are then burned, effectively removing them from circulation. The protect and burn utility was developed to connect with the community’s sense of development and to maintain scarcity.
- Collateral: BUC can be used as a form of collateral in futures trades. The utility and demand for BUC are both increased as a result of this. The same will be true in the future when we introduce margin trading.
- Trading Fees Reduction: Customers who keep their BUC and place trade orders in BUC rather than fiat will have their trading fees waived by 30%. This will increase demand for BUC even further.
The reality of founding centralisation is something that every cryptocurrency must face as it evolves. We can’t completely avoid it, but we can try to plan for gradual decentralisation.
We carefully considered what factors promote centralisation and what techniques could be used to encourage our protocol to gradually become public infrastructure like the web when developing BUC Token.