THELOGICALINDIAN - Band Protocol was an aboriginal champ in the DeFi chic announcement massive assets throughout August based on a aggregate of advertising for answer tokens affiliation account and barter listings
This accustomed it to billow from the lower-$2.00 arena to highs of $18.00 – appearance a massive acceleration that came about aboriginal on in the advance of the advancing DeFi balderdash market.
Although the cryptocurrency’s momentum has back stalled, analysts are now acquainted that it may be well-positioned to see decidedly added upside in the near-term.
There are a array of factors that abutment this notion, including a afresh appear affiliation with Tron, as able-bodied as ascent abstruse strength.
The assemblage of these assorted factors has led one top analyst to go continued on the crypto, acquainted that he expects it to set beginning highs in the near-term.
Band Protocol Shows Signs of Strength as Analysts Eye Upside
At the time of writing, Band Protocol is trading down aloof over 4% at its accepted amount of $14.77.
Although it beneath this morning alongside the blow of the crypto market, it has been assuming signs of backbone throughout the accomplished few days.
Yesterday, BAND’s amount was able to billow as aerial as $17.50, about ambience beginning best highs as the aggregated bazaar flashed some signs of strength.
This is about the point at which Bitcoin absent its drive and dived from $12,100 to lows of $11,000. From actuality it bounced hardly and has been trading alongside anytime since.
Analyst: BAND Outlook Grows Bright Following Tron Integration
The latest noteworthy affiliation that the Band Protocol’s answer arrangement has accustomed is from the Tron blockchain, which will be appliance BAND’s abstracts streams for their decentralized appliance network.
This affiliation was appear in a contempo tweet:
“[Tron] has strategically partnered and auspiciously chip Band Protocol into TRON, one of the better blockchain platforms, to accommodate scalable and defended BAND oracles for an ecosystem with about 1000 decentralized applications.”
This news, accompanying with ascent abstruse strength, has led one top analyst to cast continued on Band Protocol, noting that he still expects it to set beginning highs in the near-term.
“BAND is breaking out of the aftermost cogent attrition in its amount history. Three affidavit I anticipate this starts authoritative new highs: • [Justin Sun] advertisement bygone • abstruse blemish today • about amount to LINK makes it a nice way to comedy oracles,” he explained.
Whether or not BAND trends college in the near-term may depend on if Bitcoin and the added above altcoins can abide accouterment tailwinds to the mid-cap agenda assets.
