I am sure most of you crypto fans are feeling like you missed the ship with BAND protocol and wish you could rewind the hands of time a couple of months ago when BAND was just about a dollar! Ah well, you cannot do that with time but you can definitely take advantage of the up coming opportunities that will come your way because BAND still has more 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 the BAND protocol as I write.
On the August 25th BAND announced that they have come into partnership with Nervos Network to provide scalable and 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 went into multiple partnerships because of this two main reasons. Firstly, they are extraordinarily good at what they do! Highly focused and extremely committed is what always comes to mind when I see the name “ChainLink”! Secondly, up until recently LINK was the only significant player in the oracle space. Now this is changing fast and BAND just proved it once again, performing a 17+ in a few months.
It is very obvious that the pie will now be split and projects like BAND will get a piece of that pie. Another oracle project that you 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. Huobi also announced that they are offering BAND staking. These are top major exchanges with alot of volume. Atomic Wallet offers a staking option at 17% per annul, which is very excellent!
Excellent staking rewards, increased by exposure on top major exchanges will ultimately bring further price appreciation. Since staking coins means the circulating supply of the coin is cut significantly, a dynamic we saw very strongly in Tezos recently. I am not sure about the current percentage but couple of months ago, 90% and more of the XTZ circulating supply was locked up in staking.
A Simple Calculation
Buying BAND now at $12 means that if BAND continues to go up in price after this accumulation period and reaches $17 again, the staking reward will now be 25% on Atomic Wallet when you measure it against your initial dollar entry price.
If BAND were only to increase a further 100% your staking reward per annual would be 50% of your initial dollar amount and I am very sure that in few years to come BAND will easily surpass $34!
BAND is pretty much a no-brainer but that is just my opinion. This is by no means a financial or investment advice. Please do your own research, exercise caution and good risk management with any investment and invest at your risk.