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It has been an incredible few hours for BitOrbit’s governance and staking token, BITORB, primed from the exemplary performance in the crypto market. Following their successful IDO on VelasPad, BITORB is now on a tear, trading at 200X above its IDO price, boosted by the deluge of interest from the broader Velas and crypto ecosystems. The ultra-high demand – which saw the BITORB token sell out in minutes during the IDO, led to the token beginning its pump immediately after initial listing.
During the recently concluded IDO, there was a total supply of one billion coins, out of which 20 percent of the total supply, or 200 million, had been allocated for the private sale. Each BIT token was available at a public listing price of $0.007. The team released 23 million BIT tokens as the initial circulation supply. At this level, the project’s market cap stood at $160,000 – With extreme potential to grow from here.
Quite rightfully so, investors are excited about BitOrb, and it is not without good reason. BitOrbit allows creators to monetize content and build a big following on a reliable, high throughput blockchain. It leverages the high throughput capability of the Velas blockchain to meet its clients’ needs.
BlueZilla – A Force to be Reckoned With
The surge in BitOrbit’s token valuation is a combination of several factors, a highlight being the project’s support by BlueZilla. The platform is a renowned incubator that nurtures and props the founders’ ideas before providing further development, legal, technical, and marketing support as the project finds its footing.
A glance at its portfolio reveals that BlueZilla has incubated, amongst other projects, launchpads like BSCPad, VelasPad—the IDO-hosting platform for BitOrbit, and WagyuSwap. A common denominator for all projects launching in collaboration or support from BlueZilla is the high ROI posted moment after their public listing. For example, WagyuSwap—a DEX on Velas—has a 106X ROI and is within the territory of TronPad, which rallied around 255. A standout performance thus far is the vertical rise of ETHPad’s $ETHPAD, which currently has an ROI of approximately 170X. Most interestingly, WagyuSwap is now trading at over $2.50 – showing the immense value that BlueZilla-backed projects are bringing.
BitOrbit – Bringing Social Media to the Future
BitOrbit taps on a user’s reach in social media, giving them a platform where they can generate more revenue directly from their followers. However, the critical difference between BitOrbit and popular social media platforms like Facebook or Instagram is its inclination to privacy preservation. Besides, by riding on the Velas blockchain, where transaction processing is ultra-high, eliminating the middle man means the user won’t have to sacrifice one thing to access another.
For example, there are no extra charges that intermediaries would ordinarily impose in a traditional setup. BitOrbit’s solution aptly meets the needs of users while concurrently protecting their interests, considering the privacy violation of social media titans like Facebook. Despite their efforts to rebrand to Meta, the social media company is stained with privacy concerns following the Cambridge Analytica scandal, which saw the tech giant fined $5 billion by the U.S. Federal Trade Commission (FTC). BitOrbit is leveraging Facebook’s past misdeeds to solve a pain point and bring priceless value to social media personalities, further increasing the depth of the Velas ecosystem.
The Velas ecosystem continues to expand due to the chain’s value proposition. Forking from Solana, Velas’ throughput can reach 75k. Moreover, through Velas Grants with a $100 million chest, developers are now building on the EVM-compatible Velas blockchain, actualizing innovative ideas through the VelasPad, which the BlueZilla Group backs.
What’s Next for BitOrbit?
Based on the historical performance of BlueZilla-backed projects launching on VelasPad, market sentiment, and the amazing buzz on socials it is highly likely that BitOrbit’s $BITORB valuation will continue to climb in the coming days, weeks, and months. The token’s impressive performance can further increase on the back of Velas-related factors such as its EVM compatibility, and it will be interesting to see what mind-boggling percentage increases erupt.
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