Trade tokens and earn interest on your favorite tokens by staking them in Bancor’s decentralized exchange.
Bancor is the first decentralized trading protocol, empowering traders, liquidity providers & developers to participate in an open financial marketplace with no barriers to entry. No one needs permission to use the open-source Bancor Protocol. The project offers a network, that works to bring liquidity to the majority of tokens that lack a consistent supply/demand in exchanges. That network is built on smart contracts and a new class of cryptocurrencies that the team calls “Smart Tokens.” Bancor is looking to provide support to the illiquidity that currently exists within the cryptocurrency market. This has led to an increase in BNT price.
Smart Tokens
Bancor’s protocol uses smart contracts to create Smart Tokens, which serve as an alternative mechanism for trading. A key characteristic of the protocol is that it doesn’t call for an exchange of tokens with a second party, as in the case of cryptocurrency exchanges. Rather, it employs Smart Tokens to convert between different ERC-20 tokens internally. These conversions take place through the blockchain’s protocol and completely outside of cryptocurrency exchanges. Smart Tokens process token conversions internally by holding reserves of other ERC20 tokens within their Smart Contract. They can then convert back and forth between those reserves as users request it.
Bancor DAO
Bancor is owned and operated by its community as a decentralized autonomous organization (DAO). The Bancor Protocol is governed via a democratic and transparent voting system which allows all stakeholders to get involved and shape Bancor’s future.
Statistics
At the time of writing this article, $1.398 billion is the TVL in Bancor. The 24 hour volume on this DEX was $45.6 million.
Let us review BNT price
BNT Price Prediction
BNT is currently trading close to the resistance zone at $3.73. If it can break this resistance and close above this zone, we could start seeing a move towards $3.86, $4.70, $5.38 and $6.07. If the resistance at $6.07 breaks, we could start seeing a move towards $7.04 and $8.27. Failure to break the resistance at $3.73, could lead to a drop towards $3.18, $2.83 and $2.48.
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Disclaimer
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