The key comparison data shows that Band Protocol (BAND) has still a lot of room left to grow as it becomes one of the best Defi coins with news of integrations on Coinbase Pro that ended up sending the price to a new all-time high as we are reading more in the altcoin news.
The cryptocurrency was able to hold most of the gains and amassed a $162 million market cap as a result. One of the major competitors at the moment is Chainlink which was caught in the strong uptrend movements. The key comparison of the two assets market cap shows that the BAND has a massive room left to grow. Unlike Band Protocol, Chainlink’s network is operational at the moment which is a major difference that investors have to bear in mind. The entire crypto market is flashing signs of weakness today as BTC and ETH incur slight downtrends.
The Band Protocol Token was able to hold on to most of the gains with the investors still being quite excited about the recent Coinbase listing and the integrations news. At the time of writing, BAND is trading down by 4 percent with a current price of $7.75 and this marked a slight decline from the recent high of $8.50 which were set at the peak of the latest uptrend. The cryptocurrency is trading up from its multi-day lows of $3.80 and as per the reports, two main reasons for the catalyzed uptrend were the recent additions of the BAND protocol to Coinbase Pro as well as the news regarding the integration of the protocol’s oracles into Elrond’s blockchain.
Band Protocol is now trading up by 32X from where it was when the year started. Ryan Watkins, a crypto analyst at Messari observed recently that another factor is driving BAND higher such as the investors that are using Chainlink as an anchor for the oracle network’s value. He didn’t note the key difference between the two networks as Chainlink is a live product while Band Protocol is rolling out their mainnet. The disparity between the two suggests that BAND has more room to grow:
“This key difference may explain the still large valuation gap between Chainlink and Band (in addition to Chainlink simply being overvalued). Or it could suggest there’s still room to go.”
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