Band Protocol (BAND) Price Prediction – 2022, 2025, 2030
The existence of many protocols, both centralized and decentralized, has created a need for a bridge between them for faster transactions, network ease, latency, and extensive connections. Band Protocol served to build this bridge and eliminate the need for middlemen while fostering security and reliability.
However, towards the end of the second quarter of 2022, the entire market went down a spiral including Band Protocol (BAND). In this article, we’d talk about the past price action of this token. The analysis will give us an insight into the future price predictions, the fundamentals underlying it, and whether it’s a good investment for your portfolio in the long run.
What is Band Protocol (BAND)?
Band Protocol was created in 2017 to create a bridge between the traditional web and the blockchain by providing real-world data to the decentralized network. It is run by an ambitious team led by Soravis Srinawakoon, an experienced software developer and consultant, acting as the CEO, and Sorawit Suriyakarn serving as the CTO.
This protocol serves as a platform for decentralized applications (dApps), to leverage their smart contract data points to gain accessibility to external solutions. The whitepaper stated,
Band Protocol intends to solve data accessibility and data reliability in a fully decentralized manner. This includes how Band provides data endpoint such that any smart contracts can easily consume real-world data and data governance mechanism to ensure data integrity.
It presents a solution for blockchain oracles which is the inaccessibility to real-world data on the chain. This is a deterrent to the expansion of the DeFi ecosystem and the development of applications within the blockchain as a whole because their uses are within a closed system. Band Protocol eliminates the need for middlemen and the issues regarding scalability and data security during connection by depending on its native blockchain, which was initially launched on the Ethereum blockchain but currently operates with Cosmos-developed Inter-Blockchain Communication Protocol (IBC). The security system within the protocol is enabled by a Delegated Proof-of-Stake (dPoS) consensus mechanism.
BAND is the native and governance token of the protocol which grants the holders the right to decision-making and data provided in the network. This token was launched in September 2019 on Binance through an Initial Exchange Offering (IEO) where selected individuals participated. The value of BAND tokens is deflationary, which is intended to encourage the protocol’s users to stake their tokens and get rewarded for it. They’re also used in lending and other transaction services with dApps accessing the data points via a data aggregator within the decentralized network.
Band Protocol (BAND) Fundamental Analysis
This project has made many partnerships since its inception and a full launch in 2019 with firms like SeaX, Alphain Ventures, Sequoia Capital, Binance, and many others. Here are key events that have propelled its growth and development.
- Towards the middle of 2020, the Band protocol was relaunched on the Cosmos network to ease speed that was not achieved on the ERC mainnet.
- Also, Band Protocol launched its Bandchain public mainnet on Cosmos (ATOM) ecosystem to enable cross-chain integrations in June 2020.
- Band Protocol became the first blockchain company to join the OpenAPI initiative, an event that aims to develop software that’ll connect applications on the blockchain, with major firms like Google, eBay, Microsoft, and IBM in December 2020.
In July 2021, Band Protocol launched BandChain V2. This version grants the users, and data providers, the freedom to run nodes themselves instead of depending on middlemen.
Band Protocol (BAND) Current Price
Band Protocol is currently worth $1.43. BAND has moved -4.29% in the last 24 hours with a trading volume of $12,417,558. Band Protocol is currently ranked 350 amongst all cryptocurrencies with a market capitalization of $59,407,152.
Band Protocol (BAND) Price Prediction
Experts’ review of this token is ridden with uncertainties because of the market stage so its potential for another downtrend is high just like every other cryptocurrency.
Our price prediction forecasts use real-time Band Protocol (BAND) market data and are updated live on our website. This allows us to provide dynamic price predictions based on current market activity.
Band Protocol (BAND) Price Prediction Forecast 2022
Band Protocol, according to some, is one of the most amazing cryptocurrencies to rise this year (BAND). The BAND price forecast for 2022 anticipates a significant increase in the year’s first half, possibly reaching $2.15. The relative strength index is in the oversold zone, this could drive a bullish bounce-off.
As with other cryptocurrencies, the rise will be gradual, but no considerable drops are expected. Averaging $2.00 in price is quite ambitious, but it is feasible in the near future given anticipated collaborations and advancements. BAND is expected to have a minimum value of $1.72.
Band Protocol (BAND) Price Prediction Forecast 2023
In 2023, Band Protocol BAND price prediction has much room for expansion. As a result of the company’s announcement of numerous new partnerships and initiatives, we anticipate that the price of BAND will soon surpass $3.58. However, we should wait for the BAND’s relative strength index to come out of the oversold zone before placing any bullish bets.
Considering the market volatility, BAND will trade with a minimum trading price of $2.86 and an average trading price of $3.15.
Band Protocol (BAND) Price Prediction Forecast 2024
If the upward trend continues until 2024, when it may reach $5.01, BAND may profit. If the market continues to fall, the goal may not be met. BAND is expected to trade at an average price of $4.58 and a low of $4.29 in 2024.
Band Protocol (BAND) Price Prediction Forecast 2025
If Band Protocol successfully boosts market sentiment among cryptocurrency enthusiasts, the BAND coin price could remain stable for the next five years.
According to our projections, BAND will be green in 2025. The BAND is expected to reach and surpass its all-time high in 2025. In 2025, the virtual currency will be worth $6.44, with a minimum price of $5.72 and an average price of $6.01.
Band Protocol (BAND) Price Prediction Forecast 2026
After some extensive forecasting and technical analysis, we estimate the BAND price is expected to cross an average price level of $7.44 by 2026, with a minimum price of $7.15 expected before the end of the current year. Furthermore, BAND has a maximum price value of $7.87.
Band Protocol (BAND) Price Prediction Forecast 2027
Due to the future partnerships that are expected to happen by 2027, we are expecting that a bullish trend will continue, bringing the average price to around $8.87. If BAND manages to break the resistant level in 2027, we could see a maximum price of $9.30, failing to gather the support BAND needs by 2027 could result in a low of $7.44.
Band Protocol (BAND) Price Prediction Forecast 2028
While BAND is striving towards interoperability between networks to hasten interaction, the bullish trend from the previous year is expected to continue. So the minimum trade price has been placed at $10.01 and a yearly price close above $10.73 in 2028.
Band Protocol (BAND) Price Prediction Forecast 2029
By 2029, Band Protocol will finally surpass its previous ATH values and record new price levels. The minimum price could be $11.73 and potentially reach a maximum price value of $12.16, averaging out at $11.73.
Band Protocol (BAND) Price Prediction Forecast 2030
The cryptocurrency market is known to be highly volatile which is one of the many reasons why price forecasting is a difficult task. BitcoinWisdom tries our best to forecast future price points with precision, however all predictions should not be taken as financial advice and you should DYOR (do your own research). In 2030, we are expecting cryptocurrency to have gained adoption across many sectors. As such, the maximum BAND price in 2030 is projected to be $14.01 in the event of a bull run, with an average price level of $13.44.
From our analysis and price forecasts, it is clear that predictions are not uniform on the actual price of these tokens, because of many factors that’ll possibly affect it like government regulations, partnerships, new advancements on the blockchain, or the legal system. Doing due diligence before investing is expected to be your watchword.