A popular cryptocurrency analyst known as Josh Rager has expressed his bullish sentiment on some very less known altcoins which are Antiample (XAMP) and Tokens of Babel (TOB).
Bill Drummond, creator of XAMP and TOB is looking to return
cryptocurrencies to their origins and has created unique monetary policy to
both ERC20 tokens.
According to a report by CNF, Bitcoin and Ethereum are in a
consolidation phase which, according to the opinion of many analysts, could
last for weeks. Meanwhile, investors should focus on two altcoins which,
according to analyst Josh Rager, are highly bullish: Antiample (XAMP, rank #
554 by market cap) and Tokens of Babel (TOB, rank #2350 by market cap).
Who is Bill Drummond, is he the new Satoshi Nakamoto?
Created by the mysterious programmer Bill Drummond, Rager
claims that these projects seek to take crypto back to its beginnings of
“innovation and freedom”, principles that Bitcoin creator Satoshi Nakamoto
considered fundamental to dismantling the traditional financial system.
Bill Drummond is a pseudonym that represents the developer
or a group of developers behind Antiample and Tokens of Babel. In addition to
seeking to return to the early principles, Drummond claims that he wants to
defend users who “have little” and provide financial freedom to all who seek
it. In other words, Drummond seeks to give individuals the tools to break free
from traditional finance.
Tokens of Babel according
to an Medium article is the first of many “Bill Drummond experiments”.
Conceived as a new type of “adaptive commodity”, Tokens of Babel (TOB) is a
gaming token that burns up a part of the supply when new all-time price are
reached. In line with this, the token was developed under the concept of
ownership proportional to market capitalization.
Therefore, TOB burning mechanism has a characteristic of
rebasing that the creator qualifies as unique. This mechanism allows token
holders to always own a fixed portion of the total token supply:
Rebases of TOB affect the number of tokens in your wallet,
but not your overall share in the total supply. If you own 0.5% of the total
supply, you will always own 0.5% of the total supply, regardless of the number
of tokens in your wallet.
In that sense, TOB is designed to use the law of supply and
demand to maximize the price of the token. Developed on the Ethereum network,
TOB’s protocol will attempt to trigger the rebase mechanism every 12 hours. If
the price of TOB has exceeded its all-time high, then 1% of the total supply
will be burned. The mechanism is designed so that TOB price will always trend
in an appreciative direction.
Antiample, Drummond’s previous project, is similar to Tokens
of Babel. The coin was also developed on the Ethereum network as an ERC-20
token. Like TOB, XAMP has a constantly decreasing supply. The way XAMP works is
as follows: When the value of 1 XAMP drops, the total supply is reduced by at
least 1%. This makes the token theoretically worth more. XAMP, as its creators
claim, takes the concept of a deflationary asset to the extreme.
Bullish predictions for XAMP and TOB
The renowned analyst Rager has expressed multiple times his
bullish sentiment on XAMP and TOB in recent days. Via Twitter, Rager predicted
that XAMP and TOB will rally now that they can be used to provide liquidity on
the Ethereum based Uniswap to obtain ASH. This new token will only be available
to investors when using XAMP/TOB to provide liquidity on Uniswap.
The announcement also prompted Rager to predict that these
tokens will reach a new all-time high. According to their design, this will
increase the value of the investment for their owners. In the case of XAMP, as
another well-known analyst, Moon Overlord, explained, the rally could be
parabolic. The trader shared the following chart.
As can be seen above, Moon Overlord predicts that XAMP will
have a rally that will take the price from $0.017 to about $0.075. In that
regard, the co-founder of Arrow Crypto stated the following:
It’s incredible that $XAMP started out as a small
counterculture commentary on greedy VCs overrunning the space and may well end
up one of the biggest community-driven defi projects of this cycle. I honestly
love crypto sometimes.
Do you think these alts will perform well and reach an ATH
in the coming weeks, let us know in the comment session below.
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