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Home Markets Cryptos

BAND, fastest growing crypto gains 5,620% in 7 months

Olumide Adesina by Olumide Adesina
August 9, 2020
in Cryptos
BAND, fastest growing crypto gains 5,620% in 7 months
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Band Protocol (BAND), an arch-rival blockchain network to Chainlink (LINK) has just hit an all-time high. Data from Coinmarketcap showed BAND growing from $0.2 on Jan 05, 2020, to $11.24, at the time this report was written, showing an impressive gain of 5,620%, recording a new high.

READ ALSO: ChainLink’s digital coin skyrockets 388% in 130 days, still soaring

Fundamental analysis of BAND

Despite BAND’s significant re-rating year to date, it is worth noting that its market capitalization is still only 5% of LINK.

This is fair, currently given BAND’s nascent stage but Nairametrics expects the valuation gap will continue to close in the next 12 months as BAND scales.

READ ALSO: Bitcoin surges pass $11,500, BTC wallets activity hit 2.5 year high

In the coming months, BAND will be announcing a number of partnerships that will show how far along they have come. This will dispel the misinformation that some rivals have tried to spread much better.

The 2nd phase of BAND’s re-rating continues. Given its partnership pipeline and impending exchange listings, I would be disappointed if the BAND’s market capitalization is not at least 10-20% of LINK’s within the next 12 months.

READ MORE: Ripple has released 1 billion XRP; here’s what this means

Quick Fact; BAND Protocol is a cross-chain data oracle network that aggregates and connects real-world data and APIs to smart contracts. Blockchains enable immutable storage and deterministic, verifiable computations — however; they cannot securely access data available outside the blockchain networks.

BAND Protocol is backed by Sequoia Capital and Binance.

Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle.

Related

Tags: Band ProtocolCoinMarketCapcryptoCryptocurrencyCryptocurrency NewsDeFiLinkoracle network

Comments 1

  1. khadijat bello says:
    August 9, 2020 at 7:19 am

    Goodmane thanks for ur sensitization on cryptocurrency.Pls I opened a link on ethereum,which I was introduced to. you are expected to get 10 referrals,get get a reasonable points and you a qualified to be paid after 30 biz day.pls how true is this offer.waiting for ur response pls tanks

    Reply

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