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Boba Network

BOBA

Price
$0.20
12/6/2022, 9:28:18 PM
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Market

Market stats

Market cap

$35.0M

Volume (24h)

$984,016.34

Circulating supply

171.6M BOBA

Typical hold time

158 days

Trading activity

Not enough data

Popularity

#153

All time high

$7.99

Price change (1h)

-0.66%

Price change (24h)

-1.31%

Price change (7d)

+1.86%

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Boba Network is on the rise this week.

The price of Boba Network has risen by 1.86% in the past 7 days. The price declined by 1.31% in the last 24 hours. In just the past hour, the price shrunk by 0.66%. The current price is $0.20 per BOBA. Boba Network is 97.46% below the all time high of $7.99.

The current circulating supply is 171,624,231.86 BOBA.

About

BOBA is an Ethereum token that governs Boba DAO and can also be staked for rewards on the Boba Network. Boba Network is a Layer 2 Ethereum scaling and augmenting solution that lowers gas fees, enhances the capabilities of smart contracts and improves transaction throughput.

What Is Boba Network Coin (BOBA)?

Boba Network (BOBA) is a Layer 2 Ethereum augmenting and scaling solution. Layer 2 solutions enable increased throughput and scalability while maintaining the stability and coherency of the Ethereum blockchain. It further allows for transparency, complete decentralization, and security while lessening the carbon footprint, such as less gas or energy. Besides this, the platform is an optimistic rollup. Optimistic rollup resides parallel to the main chain of Ethereum on Layer 2 that offers advancements in scalability as they do not compute by default. 

One of the critical problems identified in the whitepaper is that the gas fees per transaction of Ethereum are high. Thus, Boba Network intends to reduce the costs to levels lower than the Ethereum Network. The Boba Network enables NFTs to bridge and launch to the Ethereum platform cost-effectively. Therefore, Boba Network offers affordability to NFTs and DeFiDApps on Ethereum, particularly microtransactions, which are too costly to employ on the Ethereum network. 

Since the platform uses Ethereum Layer 2, it minimizes gas fees, broadens the abilities of smart contracts, and enhances transaction throughput. Moreover, the platform provides fast exits supported by community-driven liquidity pools1. It implies that it takes a few minutes for the users to transfer money into and out of the network. Moreover, the platform assists in NFT (non-fungible token) bridging, which means that users can trade, move, and mint their NFTs between L1 and L2 without any difficulty. The minting process involves the creation of a new block, verifying information, and storing that information on the blockchain. Also, Boba Network is secured by Ethereum, as it is an optimistic rollup protocol. Furthermore, the extensible smart contracts of the network allow developers on the Ethereum ecosystem to create DApps. 

BOBA is the governance token of the Boba Network. The user can stake the token to receive rewards and participate in the network’s governance. The BOBA holder receives one vote for each token they stake on the network of BOBA. 

History of Boba Network

Alan Chiu is the founder of the platform. Additionally, the platform’s public mainnet launch got announced on September 20, 2021. 

The maximum supply of the BOBA token is 500 million. 

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FAQ

What is the current price of Boba Network?

The price of 1 Boba Network currently costs $0.20.

What is the market cap of Boba Network?

The current market cap of Boba Network is $35.00M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Boba Network?

The all-time high of Boba Network is $7.99. This all-time high is highest price paid for Boba Network since it was launched.

What is the 24 hour trading volume of Boba Network?

Over the last 24 hours, the trading volume of Boba Network is $984.02K.

What other assets are similar to Boba Network?

Assets that have a similar market cap to Boba Network include UFO Gaming, ARPA Chain, CONUN, and many others. To see a full list, see our comparable market cap assets.

How many Boba Network are there?

The current circulating supply of Boba Network is 172 million.

What is the typical holding time of Boba Network?

The median time that Coinbase customers hold Boba Network before selling it or sending it to another account or address is 158 days.

What is the relative popularity of Boba Network?

Boba Network ranks 88 among tradable assets on Coinbase. Popularity is currently based on relative market cap.