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Highlights:
- Band Protocol (BAND) is a cross-chain oracle platform that provides real-world data to on-chain apps.
- The BAND token is available for trading on exchanges like Binance, Coinbase Pro, etc.
- It returned 19.54% gains in the last seven days.
The Band Protocol’s (BAND) token price rose 2%, and the trading volume climbed over 351% in the trailing 24 hours to Friday morning, in divergence with the decline in the broader crypto market.
The crypto market fell 2.05% to US$1.21 trillion, but its trading volume was up 6.36% to US$66.77 billion during the same period.
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What is Band Protocol (BAND) crypto?
Band Protocol (BAND) is a cross-chain oracle platform providing real-world data to on-chain apps. It connects APIs to smart contracts while facilitating data exchange between on-chain and off-chain.
The network provides verifiable real-world data to blockchains. On the other hand, developers can use the data, including sports, weather, numbers, price, etc., for decentralized applications.
In 2019, it launched the ERC-20 project on the Ethereum blockchain. And in June 2020, it transformed into a Cosmos Network with the launch of Band Protocol 2.0.
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The new protocol was created on BandChain by using the Cosmos SDK. The BandChain’s oracle nodes are involved in the production and validation of blocks besides relaying data.
The validators use the protocol’s native token BAND as collateral for data requests. It is the main medium of exchange on BandChain. The token can be traded on exchanges like Binance, Coinbase Pro, OKEx, etc.
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The token has been gaining traction since listing on Bittrex on May 26. On June 6, it announced a partnership with Astar Network. Following this, it declared to go live on Astar’s sister network Shiden on June 10. These developments may have contributed to its price gains.
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Data Source: CoinMarketCap.com
Bottom line:
The BAND token was priced at US$1.89 at 11:04 am ET on June 10, up 2.51%, while its volume for the trailing 24 hours surged 351.85% to US$247.38 million. It has a market cap of US$66.68 million, and its fully diluted market cap is US$190.61 million.
The token has a total supply of 100 million, and its current circulating supply is over 35.19 million. It returned gains of 19.54% in the last seven days while increasing 0.15% in the last 30 days.
The token saw the highest price of US$2.50 and the lowest price of US$1.29 in the last 30 days.
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