Bancor Network Token Price Prediction: Will BNT Price Hit $10 By 2022?
BNT or Bancor Network Token is the native coin of Bancor which is a decentralized financial network. The blockchain protocol enables users to convert digital currency tokens instantly and directly instead of swapping them on exchange platforms. Bancor employs two token layers namely BNT and ETHBNT which simplifies its functionality and liquidity pools.
With the hassle-free swapping mechanism, Bancor is also looked at as a tough competitor to the Uniswap platform. However, both Bancor and Uniswap are the present leaders in the world of Decentralized finance or DeFi and DEX.
Are you one of the many who are keen on the price projection of BNT? Look no further, as we decode the plausible price predictions of BNT for 2022 and the years to come!
Bancor’s journey in 2022 had begun ranging in a downtrend and with a price tag of $3.217. Whilst it did portray a climb over the next few days. It only led to a slide down the roller coaster, to the bottom of $2.32, as seen on the 21st of January. After accumulating in the region for a week, it was on the 28th of January. When an uptrend took the price to $2.841 by the 10th of February.
However, despite the efforts, amidst industry turbulence, BNT’s price hit the bottom at $2.167 by the 24th of February. After weeks of volatility, an uptrend starting on the 15th of March helped the altcoin close the first quarter at $2.86.
Bancor’s (BNT) Price Prediction For Q2
The altcoin has been ranging to the south since the start of the second quarter, with losses equivalent to ~42%. Since BNT is presently at the oversold regions, with RSI closing at 26.26. It could portray a possible rebound, in such a case the digital asset might surge to a maximum of $2.309.
On the flip side, a continuity in sell-offs could bring the price down to $1.385. That said, a balance in buying and selling pressures could land the price at $1.940.
BNT’s Forecast For Q3
The growing demand for decentralization and DAOs could turn imperative for Bancor. With a thriving userbase in place, the digital asset could surge to a maximum of $3.186. However, if the network falls prey to negative criticism and failing commitments, the price could stumble down to $2.24. Constrained by a linear price projection the average price could settle at $2.81.
Bancor’s Prediction For Q4
If the protocol rolls up its sleeves with developmental and community building initiatives. The price of BNT could surge to a maximum of $4.619. But if the industry sees torments coming from the financial crisis or regulatory compliances. BNT could stumble down to $3.267. Considering the bullish and bearish price targets, the regular price could find support at $3.902.
Bancor’s (BNT) Price Forecast For 2023
Bancor might accumulate with certain integrations and partnerships. As the community aims to create liquidity for altcoins, it might attain more users and investors. By the end of 2023, BNT’s price is expected to trade as high as $8.853. On the flip side, if the bears outweigh the bulls, the price could fall to minimum levels of $4.36.
Price Prediction Of BNT For 2024
If the Bancor network manages to outshine its rivals and attracts institutional investments. The price could soar to a maximum of $15.565. On the downside, if the protocol falls prey to negative criticism or a possible market dump. The price of BNT could slump down to $7.947.
Price Trajectory For 2025
BNT might be the competitor for many other altcoins and exchanges as it has more advanced features than the other currencies. It might concentrate on certain developments and collaborations with other projects for the enhancement of the platform. By the end of 2025, Bancor’s price could hit as high as $31.53. Again if market FUDs fail the asset reaching its true potential, it would remain trading below $15.63.
What Does The Market Say?
As per Wallet Investor’s predictions, BNT’s price is revised to soar up to a maximum of $3.868 by the end of 2022. The forecast has pinned the maximum price targets for 2023 and 2025 at $4.8 and $8.638 respectively.
According to the firm, BNT’s price is forecasted to hit a maximum of $3.58 in 2022. While a trend reversal could bring the price down to $3.13. A balance in trade pressures could settle the price at $3.24. The analysts from the firm expect the altcoin to surge to a maximum of $11.6 by the end of 2025.
Digital Coin Price
Digital Coin Price anticipates BNT to chug up to a maximum of $2.27 by the end of 2022. The firm foresees the altcoin to surge to a maximum of $2.55 by the end of 2023. Carrying forward the momentum BNT might surge to its potential high of $3.38 by the end of 2025.
Gov.Capital predicts a pretty steady prediction as it does not see the price smashing $1.5 before the start of 20232. According to the platform, the price may reach close to $1.194 by the end of 2022. However, the company expects BNT to build up bullish cases in the long term. The digital asset is expected to surge to a maximum of $15.42 by the end of 2025.
Click here to read the price prediction of Basic Attention Token (BAT)!
What Is Bancor Protocol (BNT)?
BNT or Bancor Network Token is the native coin of Bancor which is a decentralized financial network. The blockchain protocol grants users to convert digital currency tokens instantly and directly instead of swapping them on exchange platforms. Bancor employs two token layers namely BNT and ETHBNT which simplifies its functionality and liquidity pools.
The central aim of the Bancor platform is what makes it inquisitive. The dedicated team thrives to establish liquidity for altcoins and to incentivize the liquidity providers. BNT is the native token that provides interest for staking.
Bancor is backed and performed by its community as a DAO (Decentralized Autonomous Organization). Moreover, the ecosystem is governed by a transparent voting system that enables all stakeholders to participate in shaping Bancor’s future.
Bancor was founded by Eyal Hertzog, Yudi Levi, Galia, and Guy Benartzi. It is a software that aspires to enrich users to lock crypto assets in liquidity pools. It consists of a series of smart contracts that manage the on-chain conversion of tokens.
The project aims to make smart tokens a legal currency by creating a standard network. That connects all cryptocurrencies in a sovereign decentralized liquid network. The protocol makes effortless and instant conversions without intermediaries.
Bancor Network Token or BNT is the native token of the platform which serves as a reserve currency for all smart contracts. The other crypto coins are converted into BNT and hence the investors gain interest on the transaction fees.
Our BNT Price Prediction
The token might hit a new high if it gets listed on many other exchange platforms. As the BNT consists of a series of smart contracts that facilitate the instant conversion of tokens. It might acquire more investors and users. As per Coinpedia’s formulated Bancor’s price prediction. By the end of 2022, BNT could hit a maximum of $4.5. On the flip side, it could plunge to $3.267.
Historical Price Sentiments
BNT entered the crypto sphere on 23 June 2017 with a trading value of $4.18. The token dramatically declined to $1.70 within several days of the trade and recovered further to $3.23 during early September. Later with certain variations, BNT effectively reached $5.00 at the end of December to close the year 2017.
On a bullish note, BNT opened the year 2018 with a trading price of $5.37. Effectively, the currency escalated to $10.44 and hit an all-time high on 10 January 2018. As it got listed on many of the exchange platforms and surprisingly reached a support level at $2.15 by early April. Further, the Bancor spiked to $5.25 by May. As the bears appeared in the market, the currency consistently started to decline to $0.65 by December and ended the year.
On a bearish note, BNT started the year 2019 with an exchange value of $0.62. The currency did not perform well as it continued a downtrend because the bears succeeded in pulling the prices down. With certain price indifferences, Bancor declined to as low as $0.25 by December to conclude the year.
As the sellers established control over buyers, Bancor started the year 2020 with a low cost of $0.24. Further, the token failed to accumulate and significantly continued to drop. Later the BNT arrived at $0.14 by mid-March as the fall of many other altcoins due to the crypto market sank. Effectively, the token spiked to $2.42 by August and plunged to $0.53 by November. Later with certain price recoveries, BNT hit $1.30 by December.
BNT commenced the year 2021 with a trading value of $1.29. Later the price incited an upward trajectory and the token hit $6.25. Though bulls have managed to sustain these levels until April, the May market crash plummeted the price by over 50%. With a build-up in sell pressure, the altcoin has found support near $2.5 by July.
It was not dissimilar to a stable coin for the rest of the year as it has lost all its volatility. With no significant price action. The BNT price simply hovered within a range-bound scale of $3.4 to $4 till the year’s end.
To read the price prediction of OMG Network (OMG) click here!
A: No, Bancor cannot be mined.
A: Yes, Bancor is a good investment if you are looking to invest for the long term.
A: It is a unique currency because it creates liquidity for altcoins and remunerates liquidity providers.
A: Bancor can be traded at the exchange platforms like Binance, Coinbase Pro, OKEx, Bancor Network and many more.
A: The altcoin might surge as high as $4.619 by the end of 2022.Source