Recently, while reviewing market data, I noticed an interesting phenomenon—long-term Bitcoin holders might be missing out on a severely undervalued rebound opportunity in platform tokens.

When it comes to platform tokens, many people's first reaction is "big market cap means less flexibility, smaller coins are more stimulating." But investing is about certainty, not luck. Today, I want to use data to analyze this common misvaluation in the market.

Let's look at some benchmark data. Bitcoin is currently stable above $90,000, while a leading exchange's platform token (tentatively called B Coin) is priced below $1,000, with a price multiple difference of 100 times. This seems naturally reasonable—after all, Bitcoin is the industry leader with a consensus premium. But the problem lies on the supply side.

Bitcoin's total supply is fixed at 21 million coins, while B Coin's circulating supply is 137 million coins, with an official burn plan to gradually reduce it to a maximum of 100 million. In other words, the final circulating supply gap is only about 5 times. This creates an awkward situation—despite a 5x difference in circulating supply, the price difference is 20x, implying a significant hidden premium.

What truly deserves attention is B Coin's deflationary mechanism. This is not just a paper promise but is actually executed on-chain each quarter. In Q3 alone, 1.44 million coins were burned, removing the equivalent of $1.2 billion in circulation permanently. As ecosystem trading volume grows, the burn scale will continue to expand, forming a self-reinforcing cycle of supply contraction.

In contrast, Bitcoin, although also deflationary (halving every 120 years), has entered its final stages and lacks a continuous active burn mechanism. B Coin, on the other hand, maintains a dynamic supply contraction through quarterly burns—this model is quite rare among crypto assets.

From a valuation perspective, when the income-generating capacity of two assets is similar, supply structure becomes a key variable in pricing. B Coin's deflation expectations should be more fully reflected in its price, but the current market pricing clearly has not fully digested this.

Of course, any investment decision must consider risk factors comprehensively. But from a purely fundamental benchmarking perspective, this price range indeed presents a significant safety margin.