BAND, the native token of the Band Protocol, has grown by extra 300% in only seven days. At the at time of writing, the token traded at $14.50 in opposition to the August 3 shopping and selling label of $3.86.
On August 10, the token additionally touched a brand fresh excessive of $17.78 while the 24 hours traded volumes had been $167.4 million.
BAND’s surging label follows a flurry of most up-to-date partnerships or integration announcements. The waft of determined data in regards to the protocol climaxed with the list of the token on Houbi August 9, a pair of days after one other list on Coinbase.
Earlier than the Huobi list, the Band Protocol crew had announced one other partnership with Ubik Capital, the ICON network’s “fourth-finest public manual.”
At the time of the announcement, the Band crew suggested that Ubik Capital modified into chosen because it has amongst other issues “over 14.5+ million ICX staked to them and 3800 uncommon delegators.”
The decentralised finance (defi) vow additionally looks to be one other catalyst for the increased passion in the token.
Within the meantime, the BAND token label surge looks to be faster than that of LINK, the native token of Chainlink. Each Band and Chainlink are building infrastructure that enables interoperability of neat contracts.
When LINK modified into shopping and selling at $8.35 the BAND token traded at $3.86. Nevertheless, after seven days, the frail now trades at 13.20. LINK’s all-time excessive (ATH) of $14.45 is factual over three bucks no longer up to BAND’s ATH.
It’s no longer determined why BAND’s growth is outpacing that of LINK though a top ten list of July’s busiest ERC-20 Dapps produced by Santiment would per chance offer some clues. Essentially based entirely on Santiment, Band protocol is ranked sixth on the list.
Essentially based entirely on Santiment, the rankings are based entirely mostly on “model exercise, the in most cases-underrated indicator of venture success.”
A number of the activities that earned Band sixth space include the beginning of “a cell version of Cosmoscan, improved incentive programs in Bandchain, upgraded oracle scripts to wait on a wider differ of utility libraries and additionally start the Guanyu Testnet #1 which had 50+ taking part validators.”
As the cryptocurrency market outlook remains bullish, it remains to be seen if this token can continue to outperform LINK and other identical tokens.
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Tags in this chronicle
All time excessive, band, Band Protocol, Coinbase, DeFi, Huobi, LiNK, Oracles, Santiment, Trim Contract, Ubik Capital
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