Chainbing (CBG) was a strong performer in 2021, achieving significant growth within a few months since its inception. According to CoinMarketCap, the price of the CBG token surged from a low of $0.05 on 6 December to an all-time high of $72.45 on 13 December, a spike of 144,800% in less than a week. However, at the time of writing (23 March), it was trading at $51.73, about 28% below the peak.
Chainbing coin is currently accessible on three exchanges: Indodax, XT.com and CoinTiger, with a significant price disparity between the three. It has not yet been listed on popular exchanges such as Binance (BNB), Coinbase (COIN) and FTX (FTT).
Since Chainbing is a newly launched project, what does the future hold for the CBG token? This article helps you investigate the CBG cryptocurrency from the fundamental and technical perspective, and get a round-up of recent news and developments to help you form a plausible CBG coin price prediction.
What is Chainbing (CBG)?
Chainbing is a Blockchain Information Aggregation Engine (BIAE) that aims to store, index, analyse and share data on the blockchain to give users consistent and accurate information.
Chainbing seeks to evolve into an active blockchain aggregation protocol by integrating data monitoring methods to assure data reliability and rewarding participants who provide validation.
According to its white paper, on-chain data is no longer restricted to simple transactions but increasingly incorporates additional information. Moreover, interpreting and tracking on-chain data has become increasingly challenging. Chainbing accumulates and processes this raw data by using nodes operated by diverse entities to establish a network.
In Chainbing, data collection nodes (collectors) are responsible for collecting raw data. Then, the data processing nodes (processors) convert the raw data to human-readable information. Content makers (creators) generate unique material based on the data, while validators (monitors) ensure that the information is accurate.
is Chainbing (CBG) a good investment
Chainbing (CBG) is a blockchain information aggregation engine (BIAE), launched in August 2021. It has experienced a strong performance since February 2022 and is currently trading above the $50 level (as of 23 March).
Whether CBG cryptocurrency is a good fit for your investment portfolio depends on your circumstances and risk tolerance. You should consider the level of risk you are ready to take before investing and never invest any money you cannot afford to lose.
Price Prediction shared a very bullish forecast as of 23 March 2022. It predicted that the Chainbing coin could go as high as $1,650.21 in 2031. Note that analysts’ and algorithm-based CBG price predictions can go wrong.
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