Here’s Why Blockchain Analytics Platform Bubblemaps (BMT) Soared Over 50% Today

Bubblemaps (BMT) is a blockchain analytics platform. The price jumped 50%, with trading hitting $57 million—a huge 234% increase. This price surge, mostly in the last few hours, pushed the price from about $0.085 to $0.14 before going down slightly to $0.13.

Notably, Bubblemaps launched its token, $BMT, on the Solana blockchain on March 11th. However, the price jump is different from what happened right after BMT launched.

People who got free BMT from its initial airdrop’s tokens sold a lot, triggering a price fall. The price reached its highest at $0.1684 on March 11th, then dropped to $0.0714 on March 12th before settling down between $0.09 and $0.11.

Why is Bubblemaps (BMT) Surging?

The OXFUN exchange’s addition of $BMT, offering up to 5x trading leverage, closely correlates with the significant price increase. Furthermore, rumors of a potential Binance spot trading listing, fueled by BMT’s token generation on Binance Wallet, ignited the price surge.

Additionally, the BMT token airdrop is live, with eligible users able to claim their tokens via the designated portal. Despite the rising price and increased trading volume, a significant number of recipients are opting to retain their BMT holdings instead of selling immediately.

Bubblemaps updated its tool in November with new features, like showing the history of token distribution, data from different blockchains, and tracking profits and losses.

Bubblemaps (BMT) Price Trajectory

The token experienced a surge in trading volume, reaching $57 million in the past 24 hours—a remarkable 234.70% increase from the previous day. This significant jump signals heightened market interest in the cryptocurrency token.

BMT hit an all-time high of $0.1645 and an all-time low of $0.07226. The current price sits 15.69% below its peak but a substantial 91.91% above its trough.

Bubblemaps, currently ranked 803rd on CoinGecko, has a market capitalization of $35,533,783. This valuation comes from multiplying the circulating supply of 260 million BMT tokens by the current token price.

The fully diluted valuation (FDV) stands at $138,705,824, representing the potential maximum market cap if all 1 billion BMT tokens were in circulation. Reaching this FDV depends entirely on the token emission schedule and could take years to materialize.

Over the past seven days, BMT’s price remained unchanged (0.00% increase), underperforming the overall cryptocurrency market’s 5.60% growth. However, it outperformed similar cryptocurrencies within the BNB Chain Ecosystem, which also saw 0.00% growth.