With the stock market in disarray and the Bitcoin price declining to $80,000, the timing appears unfavorable for major token launches. Nevertheless, scam-busting platform Bubblemaps launched its own BMT token just a day after one of the biggest stock market crashes in recent history. However, recent volatility aside, what’s the long-term potential for the BMT token?
On Tuesday, March 11, Bubblemaps completed the airdrop of its BMT token, opening it up for public trading. The token had a rocky start, largely thanks to factors outside its control. Currently trading at $0.09901, BMT token is down 33.52% since its launch price of $0.15 earlier that day.
The main reason for this drop was a general bearish trend in the crypto markets. With stocks losing 1000 points the day prior on tariff fears, the panic also spread to crypto assets. Nevertheless, the BMT token launch was a relative success, as the token now commands a market cap of $25.36 million.
Bubblemaps (BMT) Price Prediction
Unlike most airdrops, which offer tokens to a broad base of potential holders, Bubblemaps’ airdrop took a different approach. Based on engagement, they airdropped the tokens to their users, specifically users of the second version of their app. The more users used V2, the more tokens they would get.
This approach aimed to boost the loyalty of their core user base, enabling them to take advantage of the rewards. As such, the BMT token is making a strong case for long-term utility. Combined with its scarcity, the project has the potential for significant gains.
Firstly, the token has a total supply of 1 billion, with most tokens vesting over 10-20 months. This ensures that the token’s price is stable in the short term. At the same time, the project offers incentives to holders, including the ability to vote on scam investigations, use Bubblemaps’ premium functions, and more.
The relatively low market cap of $25 million, placing it at the 700th place among crypto assets, means that Bubblemaps still has significant growth potential. The current circulating supply of 270 million, far from the 1 billion total supply, will likely weigh on the price.
To reach $1 upon full vesting, Bubblemaps will need a market cap of $1 billion. This market cap would position it ahead of industry giants like Injective, Flare, Worldcoin, and SEI. However, if crypto markets grow as a whole, the potential is there.
For that reason, and due to the relatively conservative approach of the Bubblemaps BMT token, the likely price target for 2025 could be somewhere between the current $0.1 and $0.3. However, stronger growth is possible, especially due to the growing importance of platforms to tackle crypto scams.
READ MORE: Bitcoin Price Prediction: 2 Reasons China May Create Strategic BTC Reserves
