In order for an altcoin to be successful nowadays, it must offer something unique. Circuits of Value (CCC:COVAL-USD) fits that description, as people who hold Circuits of Value are effectively participating in a multi-asset economy.
Admittedly, this is one of the more complex digital assets. Sure, you can just buy COVAL and hope for the best, but informed investors should at least know the basic facts first.
No worries — I’ll break it down for the beginners, and offer some perspective for more advanced crypto traders. You might find that educating yourself on Circuits of Value will be time and effort well spent.
So, let’s start off with a quick summary of COVAL’s price history. As you’ll see, this is one of the most affordable cryptocurrencies out there — and not long ago, it earned a place on a very well-known crypto exchange.
Analyzing the Circuits of Value Price
It’s no exaggeration to say that December 2021 was a spectacular month for owners of Circuits of Value. On the fifth day of that month, COVAL hovered near the two cent mark and seemed to be going nowhere fast. Then, with little to no warning, a massive buying spree ensued.
Was it a few crypto “whales,” or a mad rush of retail traders? Either way, the Circuits of Value price soared to 22 cents on Dec. 10. We’re talking about a 1,000% gain in just a couple of weeks!
It’s awfully difficult to sustain a rally of that speed and magnitude, so a retracement was almost inevitable. Thus, COVAL pulled back, landing near 14 cents at the end of 2021.
Still, the general momentum is to the upside and the bulls can still maintain control of the price action in 2022. The story is still unfolding, but it’s exciting to watch this little altcoin gain traction so quickly.
It Starts with the Vault
This token, and its broader ecosystem, have a number of moving parts that need to be understood.
First of all, Circuits of Value is the underlying token of the Emblem Vault, a composite token in which users can package multiple assets into single-blockchain transactions.
The token economy in which these entities largely exist is called Emblem. While COVAL is a utility token to be used within and outside of the Emblem platform, there’s also FUEL, a transactional token meant only to be used within the Emblem platform.
Furthermore, the Emblem Vault isn’t the only vault that can exist in this ecosystem. In fact, COVAL can be used to create vaults of multiple different tokens. Then, the user can trade those tokens as one asset through the blockchain.
Meanwhile, using FUEL provides a discount to create vaults and other future Emblem platform functionalities. In other words, while COVAL is the underlying token, FUEL is basically the fee token that effectuates the transactions.
The Big Launch
So, now you know the basics of Circuits of Value. However, none of this will mean much if the token isn’t easily accessible. Fortunately, a popular cryptocurrency exchange just made it much easier to get involved.
In December, Coinbase (NASDAQ:COIN) announced the launch of COVAL on Coinbase Pro. This, without a doubt, contributed to the recent rally in the Circuits of Value coin price.
Of course, getting a Coinbase listing is the brass ring for any up-and-coming cryptocurrency. This will provide massive exposure to the platform’s users, who range from crypto neophytes to big-money trading veterans.
Since COVAL pulled back, it appears that the hype phase has worn off somewhat. That should be perfectly fine, especially if you’re just learning about this cryptocurrency today.
Really, it only means that you can go on Coinbase Pro, or another exchange that carries Circuits of Value, and start a position for the long term.
The Bottom Line
COVAL, FUEL and the Emblem Vault are all part of a larger vision of what’s possible with the blockchain. It’s an ambitious project, but just about anyone can get involved.
And with the Coinbase Pro listing, Circuits of Value is now more accessible than ever before.
So, don’t let the complex nature of this tokenized economy deter you from getting involved. COVAL is still easily affordable, and you’re invited to jump into the vault and give this multi-token platform a try.
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