{"id":431497,"date":"2020-07-20T17:00:16","date_gmt":"2020-07-20T17:00:16","guid":{"rendered":"https:\/\/wncen.com\/?p=431497"},"modified":"2020-07-20T14:07:30","modified_gmt":"2020-07-20T14:07:30","slug":"band-protocols-bandusdt-bandusd-pump","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/band-protocols-bandusdt-bandusd-pump\/","title":{"rendered":"What\u2019s Behind Band Protocol\u2019s Spectacular One-Month 300% Pump?"},"content":{"rendered":"
Its alt season and that means nearly every passing day a new altcoin is taking center stage and providing investors with wild returns. Over the last several weeks, the story has been focused on the unstoppable altcoin Chainlink<\/a>. But now, things have turned toward another decentralized oracle solution, called Band protocol.<\/p>\n Band has pumped since the start of July by well over 300% and is still soaring. What’s behind the crypto asset’s spectacular single-month surge?<\/p>\n Altcoins everywhere are booming. Bitcoin dominance falling from recent highs has left room for the alternative crypto assets to finally regain some lost ground against the king of crypto.<\/p>\n When altcoin season does arrive, assets often go on hundreds to thousand percent rallies leaving Bitcoin in their dust. And that’s exactly what’s happening left and right across the crypto market right now.<\/p>\n Related Reading | Mega Bitfinex Bitcoin Whale: Chainlink FOMO Will Eventually Fizzle<\/a><\/strong><\/em><\/p>\n In the last month alone, several altcoins have gone on a few hundred percent rallies. Chainlink<\/a> tops the list with the most highly publicized bull run, with the asset up over 70% this month and over 300% year-to-date.<\/p>\n Buzz has followed the decentralized oracle protocol throughout its existence, keeping its bullish momentum high. The altcoin was even honored by the World Economic Forum<\/a> recently for its powerful, transformative data technology.<\/p>\n But as analysts fear profit-taking and retracement is near<\/a>, another decentralized oracle solution has suddenly started surging.<\/p>\n Now, it is Band protocol<\/a>‘s turn to steal Chainlink’s thunder. The asset is up on both the BANDUSD and BANDBTC trading pairs well over 300% and still climbing.<\/p>\n But what’s causing such a powerful run in an altcoin that’s relatively new? Why aren’t investors shifting profits from Chainlink into other top crypto assets like Ethereum or Tezos?<\/p>\n <\/p>\n It is possible, that the same investors fueling the Chainlink rally are also behind the boost to Band. Both crypto altcoins underpin a protocol focused on decentralized oracles, and Band could easily be the next big thing if the technology is really what’s behind the long-term growth of Chainlink.<\/p>\n Related Reading | Small Cap Altcoins Have Outperformed Bitcoin By 5x in 2020<\/a><\/strong><\/em><\/p>\nBand Practice: Was Chainlink Just Clearing The Way For a New Oracle Protocol?<\/h2>\n
BANDUSDT Weekly | Source: TradingView<\/a><\/pre>\n
In It For The Tech: Decentralized Oracles Reward Savvy Crypto Investors<\/h2>\n
BANDBTC Weekly | Source: TradingView<\/a><\/pre>\n