The BAND digital currency achieves a rocket growth of more than 6600% in 7 months
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Answer The BAND digital currency achieves a rocket growth of more than 6600% in 7 months
Cryptocurrencies are back on an upward trajectory, with the performance of cryptocurrencies varying from one currency to another.
The BAND cryptocurrency, which runs on a similar and even rival Chainlink blockchain, has reached an all-time high.
Coinmarketcap data showed the BAND coin growing from the price of $0.2 on January 05, 2020 to $13.42, at the time of writing, showing a gain of more than 6600%, and the current price of the coin is a record high.
BAND Fundamental Analysis:
Despite the recent rally that BAND has recorded so far, it is worth noting that its market capitalization is still only 5% of LINK.
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Which is fair, given that BAND is a relatively new currency compared to LINK, but many analysts expect the valuation gap between BAND and LINK to continue closing over the next 12 months especially as the price of BAND increases.
In the coming months, BAND will announce a number of partnerships that will show how far the project’s developments have come.
The BAND Protocol is a multi-threaded data oracle network that collects and links real-world data and APIs to smart contracts.
With blockchain technology, data can be stored immutably with verifiability, however the data available outside of the blockchain networks cannot be safely accessed, here comes the role of the BAND Protocol project backed by Sequoia Capital and Binance.
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The Band Protocol enables smart contract applications, supports DeFi, prediction markets, and games built on the blockchain with support for Oracle protocols.
Read also:
Band Protocol unveils new product to compete with Link
Learn about the Band Protocol and the BAND digital currency
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