CBDAO’s recent price action in the last 24 hours has seen its market cap value rise to $160,412.

CBDAO has remained largely inactive since its launch in August 2020 – seeing its price decline from a high of $51. Now after months of sideways price action where the coin has been trading for in and around $1, the coin looks to be experiencing greater volume.

According to Coinmarketcap, the project aims to offer a “Decentralized Autonomous Organization (DAO) sandbox for researchers, developers, and users to experiment and proof-test various decentralized consensus protocols on DAOs.”

The coin appears to have been subjected to a series of pumps and dumps over the last couple of days, which could present profitable opportunities for savvy traders.

Where to buy CBDAO

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What makes CBDAO possibly a good buy right now?

CBDAOs current circulating supply may make it enticing for some investors. With around one million coins currently in circulation and a total planned supply of around 10 million coins, the circulating supply will increase tenfold.

This means that although this could cause inflation for the coin and thereby decrease price, if the coin manages to see enough adoption, this could stabilise and give early investors a big advantage.

This post was originally published on Coinjournal.