Steven Schoenfeld, former head of International Equity Product Strategy at Barclays Global Investors (now Blackrock), expects the U.S. Securities and Exchange Commission (SEC) to approve all spot bitcoin exchange-traded fund (ETF) applications in three to six months. He also anticipates that the greenlighting of spot bitcoin and ethereum ETFs has the potential to inject between $150 billion and $200 billion of capital into these investment products.
Boost Coin Team and Community
According to the Boost Coin crypto project’s official website and whitepaper, it aims to eventually become a community-driven decentralized autonomous organization (DAO). However, the project points out that in order to first create reliable DeFi tools, it must start its journey as a centralized company.
The website further stresses that the team has more than twelve years of experience and more than 50 members. However, there are no details about the team leaders. But since Pasquale Diamond Celi is the person behind the trading platform, which is where Boost Coin stemmed from, we dare to speculate that Celi is the core figure behind this project.
As for the Boost Coin community, aside from the above-outlined X account, the main outlet is the Boost Coin Telegram group with more than 28k members:
What is Boost Coin and How Can You Buy the BOOST Token-Telegram-group
Plus, you can also follow Boost Coin on Instagram:
You can find links to the project’s social at the bottom of the “boostco.in” homepage:
The Boost Coin Crypto Project’s Roadmap
The Boost Coin crypto project’s current roadmap focuses on the third and fourth quarters of 2023 and the first two quarters of 2024. The image below covers the main milestones:
What is Boost Coin and How Can You Buy the BOOST Token-Roadmap
Out of the milestones planned for the third quarter of 2023, the project launched the BOOST token on a new smart contract. CoinGecko’s listing is also already updated, while the CoinMarketCap listing for now just states that the token migrated to a new smart contract:
What is Boost Coin and How Can You Buy the BOOST Token-CoinMarketCap-and-CoinGecko
As for the launch of Boost Ai, the last update from September 7, 2023, says it is almost done.
Full BOOST Token Analysis
The Boost Coin crypto project has its native BOOST token, which has been around since August 2021. However, as pointed out previously, on September 5, 2023, the BOOST crypto coin migrated to a new smart contract.
However, the migration didn’t affect its core properties, such as the total supply, token type, and the network on which it lives. So, both the original and the new (migrated) versions of the BOOST token live on the Ethereum blockchain, following the ERC-20 token standard.
The BOOST Crypto Coin Tokenomics
Project name: Boost Coin
Symbol/ticker: BOOST or $BOOST
Token type: ERC-20
Network: Ethereum
New (migrated) token smart contract: 0x302CAe5dcf8f051d0177043C3438020b89b33218
Total supply: 1,000,000,000
Buy/sell tax: 0%
Token distribution:
85% added directly into the Uniswap liquidity pool upon launch
6% for future exchange listings
6% for marketing
3% into the Boost team wallet (locked and vested for 36 months, set to unlock 12.5% at the end of each quarter)
What is Boost Coin and How Can You Buy the BOOST Token-$BOOST
BOOST Token Use Case
The BOOST token contributes to BoostSwap’s success. After all, the swap’s 0.3% swap fee directly contributes to the Boost Coin’s liquidity pool. So, regardless of the tokens or coins exchanged on BoostSwap, the BOOST token value increases.
BOOST is to BoostSwap what UNI is to Uniswap, or SUSHI is to SushiSwap.
As mentioned previously, the Boost Coin crypto project plans to become a DAO. When that happens, BOOST will also serve as a governance token.
However, as of now, the most prominent use case of this coin is the fact that it grants access to Swap Ai – a trading bot available inside the Boost Coin mobile applications. Anyone holding one million or more $BOOST tokens gets to access that tool.
Analyzing the Boost Coin (BOOST) Crypto Price
Due to the BOOST crypto coin’s migration to a new smart contract, most decentralized price tools/charts do not offer the asset’s entire price action. Instead, they allow us to look at the old token and the new token separately.
However, we can use CoinGecko’s page for the BOOST coin. There, the price chart entails both the old and the new tokens’ price activity:
$BOOST-price-chart-old-and-new-smart-contract
When looking at the above chart, it is important to mind the trading volume. As you can see, the Boost Coin crypto asset wasn’t trading at all between January 31, 2023, and up until the migration took place in September 2023. So, the extrapolation between those points is misleading.
With that said, the above chart is useful to see the asset’s all-time highs and major levels of support and resistance prior to migration. Still, let’s look at the weekly chart of the original (old) BOOST and migrated (new) BOOST separately.
BOOST Crypto Coin Price Chart Pre-Migration
$BOOST-price-chart-old-3D-timeframe
The above three-day BOOST logarithmic chart clearly indicates the asset’s initial run. From its listing price of $0.00057-ish on August 8, 2021, BOOST’s price rallied over the following 72 days. Sure, there were two 45%-plus pullbacks along the way; however, in total, the coin’s value increased by more than 800x in that short period.
After setting its still valid all-time high (ATH) on October 19, 2021, at $0.48-ish, the BOOST crypto coin started its downward movement. Since the end of 2021, when the entire crypto market entered a bear season, the price of BOOST plummeted.
By September 2022, the asset lost more than 99% of its value. However, it was at that time that $BOOST finally found its bottom just below the $0.001 mark.
Starting in October 2022, the price of BOOST pulled off quite a run. It increased by more than 12x in just 18 days. Then, it experienced a short-lived 62-ish percent correction to retest the previous resistance at $0.0047-ish. However, from that former resistance, the asset went even higher.
At the beginning of December 2022, the price reached the $0.017-ish level. However, it lost most of its progress over the next 24 days, with a new local bottom at $0.0015-ish. From that low, the token managed to double in value but couldn’t break through the $0.003-ish resistance.
After hitting the aforementioned resistance, $BOOST pulled back to $0.00221. On January 31, 2023, it stopped trading at that price.
Spot Bitcoin ETFs Could Be Approved in 3-6 Months
Steven Schoenfeld, CEO of Marketvector Indexes, shared his view on the potential for the U.S. Securities and Exchange Commission (SEC) to approve spot bitcoin exchange-traded funds (ETFs) during a panel discussion at the Ccdata Digital Asset Summit on Tuesday.
Schoenfeld is a 36-year veteran of the investment management industry, having served in senior fiduciary positions at Northern Trust. He was also Managing Director and Head of International Equity Product Strategy at Barclays Global Investors (now Blackrock), where he managed more than $70 billion in developed and emerging market stock index funds and ETFs. Previously, he also led the team at the IFC/World Bank which developed the first investable Emerging Market indexes.
Regarding the approval of spot bitcoin ETFs in the U.S., he predicted:
It’s very likely that all will be approved.
“The AUM potential could double or triple the current amount of AUM in current bitcoin products,” he added.
Regarding the SEC’s potential approval timeline for a spot bitcoin ETF, he remarked: “Two weeks ago I would have said nine to 12 months away.” However, he emphasized:
Sitting here today I would say it’s closer to three to six months.
“For the first time, it was just last week, the SEC, instead of completely rejecting the whole list [of spot bitcoin ETF applications], they’ve actually asked for comments which is a marginal but significant improvement in the dialogue,” he opined.
“There’s also the Grayscale lawsuit which the SEC lost, which means they are most likely going to have to allow the Grayscale GBTC to be converted into an ETF,” the executive noted.
He described: “The sheer size of the U.S. institutional market, financial advisor market, self-directed retail investors — it’s enormous, and to have a product that will be accessible to them … the assets will move into these products.”
Schoenfeld continued, “We’ve estimated using some of the statistics that came from when the gold ETF was launched in 2004,” elaborating:
If anything close to that occurs with bitcoin, and potentially ethereum spot ETFs, this could be $150 [billion] to $200 billion of inflow into these products.
He clarified that the inflow is expected to happen over three years. “That’s three to four times the size of the current product set for listed bitcoin so that will be very significant,” he said.
The former Barclays Global Investors executive is not the only one expecting the SEC to approve all spot bitcoin ETF applications simultaneously. JPMorgan recently said that it expects the regulator to approve multiple spot bitcoin ETFs at once. Meanwhile, a number of Congress members have urged the SEC to “immediately” approve spot bitcoin ETFs, stating that there is no reason to deny these applications. Several analysts have predicted that the SEC will approve the first spot bitcoin ETF by mid-March next year. Former SEC Chair Jay Clayton said last month that institutional investors clearly want access to BTC, emphasizing that the approval of spot bitcoin ETFs is “inevitable.”
Do you think the SEC will approve all spot bitcoin ETF applications in three to six months? Let us know in the comments section below.
