Coinbase (NASDAQ:COIN) is a premier destination for any crypto. It’s the second-largest crypto exchange in the world, and it’s the only publicly traded exchange on the U.S. stock market. As such, it has the attention of almost every investor who has an interest in cryptocurrency. It also has quite a rigorous system for approving and listing new cryptos on its trading platform. This means any crypto that gets a listing must be worth a look. Today, Circuits of Value (CCC:COVAL-USD) is the newest lucky token to get a listing on the platform. The token is seeing a massive price boom, and investors are interested in Circuits of Value price predictions to see where it will go from here.
Circuits of Value is the underlying token of the Emblem Vault. Its developers call Emblem Vault the first composite token for the blockchain. Using the Emblem Vault, users can package multiple assets into single blockchain transactions. One can create a vault of multiple different tokens, and then trade those tokens as one asset through the blockchain. The user that receives the vault can open it to obtain the multiple different cryptos. Through vaults, networks can cut down on scalability issues, seeing as assets can combine into a single swap.
Vaults can also contain digital files, making a unique way to trade assets on the blockchain that aren’t necessarily digital currencies.
COVAL is then the underlying token, alongside a fee token called FUEL. FUEL is what actually propels the transactions. Circuits of Value is a token distributed as a reward for utilizing Emblem Vaults and staking. Developers are also using a set amount of COVAL — about 20% of the 1.2 billion COVAL circulating supply — for furthering the project and providing liquidity.
Circuits of Value Price Predictions Heat Up Ahead of Coinbase Listing
In a blog post made earlier today, the exchange announced its intent to list COVAL alongside a slew of other cryptocurrencies on its Pro platform. Beginning today, holders of COVAL can add their holdings to their Coinbase accounts. Tomorrow, trading of the token will begin, barring any liquidity issues.
Investors are flooding into the COVAL token in a huge way today ahead of the listing. Transaction volume of Circuits of Value is up a jaw-dropping 12,900% today, with nearly $7 million in COVAL swapping hands. The massive volume is sending the value of COVAL skyrocketing as well; the token is gaining over 260%, bringing prices to nearly 7 cents.
Can COVAL continue this momentum and hold onto the huge gains? Let’s take a look at some Circuits of Value price predictions and see what outlets are thinking:
- WalletInvestor thinks COVAL will not be able to hold onto its lightning-fast gains; the site anticipates prices falling over the next 12 months to 3 cents.
- DigitalCoinPrice, however, sees gains continuing through the next year. In fact, it’s expecting COVAL to double in price through the end of December alone, targeting a price of 12 cents. By the end of 2022, the site expects a price of 15 cents for the token.
- Gov Capital’s prediction for December 2022 is a downturn back to just 2 cents.
- Trading Beasts is in the same boat; the site predicts a 2-cent price for COVAL by next December.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.