Pokeball (CCC:POKE-USD) is a new decentralized finance (DeFi) token that pays users for staking their POKE-USD in liquidity pools. This yield farming token surged several hundred percent overnight, touching a high around 70 cents in trading today.
Built on the Binance Smart Chain, Pokeball also has an NFT collection feature and can be staked on PancakeSwap (CCC:CAKE-USD) or Ballswap. Pokeball is not to be confused with other Pokemon-related cryptotokens, such as Charizard Token (CCC:CHZ006-USD) or the now-defunct PokeCoin in particular (which previously traded under POKE).
Farming of POKE-USD began on Jan. 14, 2021, and nearly 5.5 million tokens have been farmed to date. Current circulation of 6.2 million tokens at a price of 66 cents puts the market capitalization at just over $4.1 million.
This token has a supply cap of 100 million POKE-USD, but the developers say that won’t be reached, as there are multiple burn mechanisms in place to reduce circulation. To date, 2.4 million tokens have been burned.
In particular, deflationary mechanisms announced on Feb. 14 appear to have prompted the previous surge in $POKE-USD, which saw the token climb from 23 cents on Feb. 16 to an all-time high around 91 cents on Feb. 21.
That price surge could also be related to a Feb. 5 call for users to fund Ballswap liquidity pools in exchange for an NFT. Receiving an NFT was contingent on holding funds in liquidity pools for two weeks, but it appears multiple investors from that time have yet to receive the promised NFT.
Pokeball is apparently working on a Pokemon-derived game for Steam. It’s also worth noting that many of this company’s Q1 roadmap goals have yet to be fulfilled, and that it hasn’t made any major announcements on its Medium account since February, though it has been posting to social media.
Pokeball (POKE) Price Predictions
Currently trading around 64 cents and up 716% over the past 24 hours, where does POKE go next? Here are some Pokeball (POKE) price predictions:
- Wallet Investor has a bearish one-year forecast of 0.7 cents for Pokeball.
- Gov Capital likewise predicts that POKE-USD will head to $0.
- Digital Coin Price has a Pokeball (POKE) price prediction of 97 cents by the end of 2021 and $2.02 by the end of 2025.
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.
