What is Band Protocol (BAND)? All you need to know - Kalkine Media

June 11, 2022 04:22 AM AEST | By Rupam Roy
Follow us on Google News:
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.

Also Read: What is Cryptex Finance (CTX) crypto? Know price & performance

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.

Also Read: Why is Fetch.ai (FET) crypto gaining attention?

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.

Also Read: Top healthcare stocks to explore in June: JNJ, LLY, ABBV, MRK & BMY

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.

Also Read: Is Ocean Protocol (OCEAN) rising on 4th upgrade or something else?

Band Protocol (BAND) crypto price and performanceData 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.

Also Read: Crypto bank vs Fed: It is not Fed’s first brush with litigation

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete, or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.



Top Listed Companies