Crusher of the Month – Bibox Token – February 2018 - Crush Crypto

Crusher of the Month – Bibox Token – February 2018

In the Crusher of the Month series, we will write about a coin/token that we have the most conviction in each month. The time frame will be around 1 month, or until we publish the next Crusher of the Month. In February 2018, our Crusher of the Month is Bibox Token, ticker BIX.

Launched in November 2017, Bibox is an up-and-coming cryptocurrency exchange specializing in altcoins.

Bibox Token works similarly to Binance Coin or KuCoin Share – token holders enjoy a 50% reduction in trading commissions on the Bibox exchange in the first year, 25% in the second year, and so on.

Why do we like it?

Bibox is well poised to take advantage of the slowdown in altcoin listing

Just two months ago, Binance was listing new ICO coins on its platform very quickly and had the trading volume to support these new coins.

However, perhaps because Binance hit their capacity, it has slowed down its new listings drastically and new ICO coins had to find somewhere else to list.

KuCoin has been aggressive in listing new coins, but for some reason the trading volume is still not very high. Same thing with IDEX. Bittrex is starting to list altcoins again, but those coins have been trading for a while and are not new ICO coins.

Therefore, there is a need for exchanges that list new ICO coins quickly with high volume. This is where Bibox steps in.

In the past 2 weeks, Bibox added Fusion (FSN), CPChain (CPC), and Trinity (TNC) on their platform, all of which have fairly high trading volume. In fact, for the tokens that are listed on both Bibox and KuCoin, the trading volume on Bibox is higher (Snovio, HPB, and Trinity).

Cryptocurrency investors have shown that they have no brand loyalty when it comes to exchanges. Exchange rankings change all the time. Just a few months ago, Poloniex and Bittrex were some of the biggest exchanges. Huobi Pro and Binance didn’t even exist 1 year ago. Users care about trading pairs and volume and they would not hesitate to switch to another exchange if it serves their needs better.

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BIX is undervalued compared to other similar tokens

Bibox is most comparable to KuCoin – both specialize in altcoins and have an exchange token that works the same way. We also throw in Binance here for comparison purposes. Below is a comparison of these the three exchanges/tokens:

BIX comparison with KCS and BNB

From the table above, you can see that KCS trades at a 5x premium to BIX despite Bibox having 2.5x the trading volume of KuCoin. Using this metric, one could argue that KCS is 12x overvalued (or BIX is significantly undervalued).

Under this metric, BNB is actually 15% undervalued compared to BIX. However, we still consider BIX to be significantly undervalued compared to BNB because (1) BNB’s utility resets in August while it resets in November for BIX as Binance launched a few months earlier than Bibox, (2) Binance is already the #1 exchange, so the growth prospect is much lower than Bibox.

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