THELOGICALINDIAN - Over the accomplished few weeks crypto investors accept abundantly focused their efforts and absorption on a baddest set of players These accommodate Cardano and Chainlink two altcoins abreast the top of the leaderboards that accept acquired hundreds of percent in bald months
But there are added projects that accept rallied. Band Protocol, whose built-in badge is BAND, has acquired about 400% in the accomplished ages alone, with its badge now trading at $5.00. It is a adversary to Chainlink, as both projects intend on accomplishing a agnate ambition of abutting the internet to the decentralized web.
The cryptocurrency is benefiting from a alternation of partnerships with startups in and alfresco of this industry — the latest of which was appear on Wednesday.
Sequoia-Backed Crypto Oracle Project Secures Partnership With ICON
Band Protocol, an answer activity backed by Sequoia Capital and some of crypto’s notable funds, appear a affiliation with ICON on Wednesday. In a columnist absolution aggregate to the project’s Medium, Band’s Kevin Lu wrote:
“ICON Network, one of the better decentralized blockchain networks, has strategically partnered and called Band Protocol to accommodate defended and absolute abstracts oracles for its rapidly growing decentralized appliance ecosystem.”
The duo intends to focus on ICON’s decentralized applications in the decentralized finance, anticipation market, sports/esports betting, and RNG/VRF bazaar segments.
The architect of ICON, Min Kim, aggregate the action bidding by the Band team:
“The cardinal affiliation and affiliation with Band Protocol to the ICON Arrangement will accompany added aegis and scalability to all the decentralized applications congenital on South Korea’s better blockchain project. Band Protocol’s answer will accompanying strengthen the absolute arrangement and acquiesce amplification to new real-world uses.”
There Is Room to Rally for BAND
Analysts say that BAND has allowance to acknowledge added as added partnerships are formed out.
Kelvin Koh, a accomplice at the Spartan Group and a former Goldman Sachs partner, explained his opinions on this in a Twitter thread appear aftermost week. (The cilia was conspicuously appear back BAND was 60% lower than it is trading at now.)
0/ The aboriginal appearance of $BAND’s re-rating culminated in its mainnet barrage appropriation its circ. bazaar cap to $40M (FD $200M).
The abutting appearance of $BAND’s re-rating has started and will focus primarily on affiliation announcements in the advancing 6-12 months. https://t.co/7h2TeZIppL
— SpartanBlack (@SpartanBlack_1) July 13, 2020
Koh explained in that cilia that the crypto asset is currently ability a “re-rating” appearance spurred by partnerships and its mainnet launch:
“The abutting appearance of $BAND’s re-rating has started and will focus primarily on affiliation announcements in the advancing 6-12 months… [Partnerships] will drive the abutting appearance of re-rating. Even bold its bazaar cap doubles from actuality to $100M (FD mkt cap ~$0.5B), its appraisal will alone be at 4-6% of Chainlink’s accepted valuation, implying allowance for cogent upside.”
The broker accurately fabricated advertence to two of Band Protocol’s beforehand partnerships: one with Math Wallet and one with Waves Protocol. Koh claims the above is important as Math Wallet “supports 40 assets and has a ample userbase in China,” acceptation BAND is apparent to a added audience.
