Band Protocol Price Overview
The current Band Protocol price is EUR. The price has changed by EUR in the past 24 hours on trading volume of EUR. The market rank of Band Protocol is based on a market capitalization of EUR. Band Protocol has a circulating supply of . The highest recorded Band Protocol price is EUR. And the lowest recorded BAND price is EUR.
The DeFi (decentralized finance) sector has been experiencing rising demand in recent times and as DeFi is booming, the projects and cryptos related to the sector are also experiencing rising demand. Band Protocol is one of the prominent projects that could become crucial for the sector of DeFi.
Band Protocol is a cross-chain data oracle platform which acts as an aggregator that connects real-world APIs and data with smart contracts. Band Protocol hosts decentralized applications (Dapps) and incentivizes network participants to provide real-world data to Dapps. Band Protocol operates with Dapps that are hosted on the Ethereum blockchain but also enables cross-chain operations with other blockchain networks supported through the system. BAND is the native token which is used for rewards, payments, staking, and governance.
The price of BAND has changed significantly throughout its history and if you want to know why then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of the intricacies of Band Protocol’s price – and the factors that influence it.
Band Protocol Price History
The price of Band Protocol (BAND) is subject to frequent changes as it responds to the volatile environment that the crypto market represents. Since Band Protocol joined the crypto market in September 2019 after an IEO (Initial Exchange Offering), BAND has gone from $0.63 to highs of over $23.
In September 2019, the Band Protocol token started trading at the price of $0.63, followed by dips in October and November. During these months, BAND traded at new lows, showcasing some volatility. In this time, BAND went from about $0.60 to $0.20 at its lowest point. December 2019 continued in a similar fashion, with Band Protocol starting at around $0.30 and dipping to $0.22 by the end of the year.
Prices remained fairly stationary in January 2020, with BAND mostly trading between $0.20 and $0.27. BAND experienced a positive correction that pushed its value to over $0.40 in February. Band Protocol had a brief upsurge in March when the token traded at the value of $0.77 before it crashed back to $0.20. April 2020 brought new highs above $1 at the end of the month, while the bullish momentum continued in May as well, with Band Protocol closing the month above $1.50. BAND reached a peak of $2 in early June, before falling back to $1 later in the month. It then experienced a new high price in July, promptly reaching a peak above $5. The bullish trend prevailed for the first ten days of August 2020, as BAND price reached a new high above $18. Prices then fell throughout September, with BAND closing the month at $6.50. During October, November, and December, Band Protocol mostly traded between $4 and $7.50.
Band Protocol was trading at around $5 at the beginning of 2021, soon experiencing rises with a bullish momentum that brought BAND to $9 at the end of the month. BAND continued with its bullish pace in February, reaching a high above $20 before falling back below $12. A volatile March took Band Protocol up to around $17 before it surged to its all-time high (ATH) of $23.87 in April. During May, BAND gradually lost 75% of its ATH value, as it dipped to lows below $6.
Analyzing Band Protocol Price History
Band Protocol price history can be analyzed with many of the same tools and techniques that are used for analyzing assets in traditional financial markets such as the stock market. Major price swings usually go hand in hand with spikes in trading volume to reflect the activity of traders when buying and selling cryptocurrencies like Band Protocol.
Technical analysis (TA) is one of the commonly used tools for forecasting the future momentum of BAND and other cryptocurrencies. TA examines price charts and other relevant market data to make sense of the previous momentum and recognize price patterns. With the help of TA, traders and investors can make price predictions about Band Protocol and other cryptos.
In combination with TA, traders also use fundamental analysis and sentiment analysis. Fundamental analysis studies the technology and blockchain architecture that powers Band network, the activity of the dev team, upgrades and updates, developments, mergers and partnerships, and other important events, news and technical specifications. One of the crucial elements in fundamental analysis is the supply of Band tokens. BAND has no max supply and is subject to a variable inflation rate of 7% to 20% per year. This means that it may not be a good store of value in the long term.
Fundamental analysis also looks into positive news and events, such as the announced integration between Google Cloud and Band Protocol. Band Protocol will use Google Cloud public data, which increases the chances of attracting more users and more institutional investors to the oracle aggregator. The popularity of DeFi also affects the price of BAND and can be included in fundamental analysis.
Sentiment analysis studies opinion data and collects information about the overall sentiment among traders and investors. This technique ranks the overall sentiment as negative, positive, or neutral based on the sourced opinion data. Sentiment can also drive trend reversals and mostly depends on news and events related to Band Protocol, which is also the case with other cryptos.
Factors Influencing the Price of Band Protocol
A multitude of factors can influence the price of Band Protocol, one of which is its supply. BAND’s inflation rate puts downward pressure on the token’s price so as to incentivize staking. This means that the price of BAND will fall unless demand for the token rises to keep up with its rising supply.
The price of Band Protocol can also be influenced by the wider economy, as was the case with the collective bullish momentum in early 2021. At that time, most cryptocurrencies either rebounded from previous lows or managed to reach new all-time high prices. BAND also reached a new ATH, partially driven by the collective trend.
Situations like the COVID-19 pandemic also influence the price of Band Protocol and other cryptocurrencies. The uncertainty as lockdowns and restrictions were implemented led to a market-wide crash in March 2020. However, the pandemic may have helped crypto prices in the long run, as the potential debasement of the US dollar encouraged many new investors to turn to crypto as a better store of value.
The popularity of DeFi and the utility of BAND also play an important role in forming the market price of Band Protocol, together with positive news such as the announced integration with Google Cloud. Adoption and institutional investments are some of the crucial factors that can influence the market value of BAND.
Live Band Protocol Value and Market Cap
The live price of Band Protocol is susceptible to frequent price changes due to the volatility in the cryptocurrency market. The price is dictated by the balance between buying and selling activity which is in constant flux. The price changes are also reflected in the market cap of Band Protocol, which changes in line with the current price. The market cap is equal to the number of circulating tokens multiplied by the present market price. The market cap ranks cryptocurrencies compared with their crypto peers and determines their market share.
Due to its high volatility, the price of BAND can change radically within a short period.
Band Protocol Price FAQ
What Is the Highest Price of Band Protocol in EUR?
Band Protocol price history shows that BAND has recorded a peak value of EUR.
What Is the Lowest Price of Band Protocol in EUR?
Kriptomat data confirms that EUR is the lowest recorded Band Protocol value.
How Can I Buy Band Protocol?
There’s no need to consult an expert to tell you how to buy Band Protocol. It’s fast and easy to buy BAND at Kriptomat. Band Protocol is available for immediate purchase at the current BAND price quote of EUR. Current prices are always displayed in the BAND chart.
What Is the Current Price of Band Protocol in EUR?
Band Protocol is available for immediate purchase at Kriptomat. The current price is EUR.
What is BAND used for?
BAND token is used as a reward for network participants, as a governance token, for payments, and can be staked within the Band Protocol system.
Band Protocol is one of the top players in the sector of DeFi, enabling users to connect real-world data and APIs with smart contracts. Band Protocol is an oracle platform which acts as an aggregator that allows Dapps to source external data and use it on the blockchain-based network. Band Protocol is integrated with other blockchain networks outside the Ethereum ecosystem, which could potentially add more use cases and increase the market value of BAND.
If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Band Protocol and cryptocurrencies!