Reasons Why Band Is Looking So Good Under $13

Reasons Why Band Is Looking So Good Under $13

By Sapphire | Sapphire Crypto | 28 Aug 2020


You Have Not Missed It

I am sure many are feeling like they missed the boat with BAND protocol and wish they could just rewind time a couple of months to when BAND was about a dollar! Well, you cannot rewind time but you can definitely take advantage of opportunities that come your way and BAND still has some to offer.

From a recent high of approximately $17, BAND is sitting in a beautiful accumulation zone of around $12 and I don't think it will last too long. There are too many positives surrounding BAND right now!

BAND Partners With Nervos Network

On the 25th of August BAND announced that they have partnered with Nervos Network to provide scalable, decentralized oracle technology. Oracles are a very much needed service to any business that is going to be utilizing blockchain technology and this is exactly why ChainLink has done so well.

ChainLink secured multiple partnerships due to two main reasons. Firstly, they are exceptionally good at what they do! Highly committed and extremely focussed is what always comes to mind when I hear the name "ChainLink"! Secondly, up until fairly recently LINK was the only significant player in the oracle space. This is changing fast and BAND just proves this once again, performing a 17X in a few months.

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It is pretty obvious that the pie will now be split and quality projects like BAND will be getting a piece of that pie. Another oracle project that you may want to consider is DIA, which has done about a 7X in August alone. 

Major Exchanges List BAND For Trading & Staking

Binance recently added BAND protocol to their trading pairs as well as adding BAND to their "Fixed Staking" options. Today Huobi announced that they are now offering BAND staking. These are top tier exchanges with loads of volume. Atomic Wallet also offers a staking option at 17% per annum, which is excellent!

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Great staking rewards, compounded by exposure on high volume exchanges will ultimately bring further price appreciation. Especially since staking coins means that the circulating supply is cut significantly, a dynamic we saw very strongly in Tezos recently. I am not sure as to the current percentage but a couple of months ago, more than 90% of the XTZ circulating supply was locked up in staking.

A Simple Calculation

Buying BAND now at $12 means that when BAND continues to rise after this accumulation period and reaches $17 again, the staking reward is now 25% on Atomic Wallet when measured against your initial dollar entry price.

If BAND were only to increase a further 100% your staking reward per annum would now be 50% of your initial dollar amount and I am sure that in years to come BAND will easily surpass $34!

I think BAND is pretty much a no-brainer but then that is just my opinion. This is by no means investment advice. Please do your own research and exercise caution and good risk management with any investment.

 


Sapphire
Sapphire

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice.


Sapphire Crypto
Sapphire Crypto

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice.

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