Will Band Protocol reach $1000? Band Protocol Price Prediction 2023-2030

Latest Band Protocol Price

Performance in the last 12 Months

• Last 5 days: +2.3%, Parity*
• Last 30 days: -12.6%, Underperformer
• Last 6 months: +22.6%, Outperformer
• Last 12 months: -50.8%, Underperformer
• Since January 2020: +568%, Outperformer

*Vs Chainlink, Leading Competitor

Band Protocol Price Prediction: Is Band Protocol a Good Investment?

Band Protocol is a decentralized oracle network that connects smart contracts with off-chain data. It was founded in 2018 by a team of experienced blockchain developers including Soravis Srinawakoon, Paul Nattapatsiri, and Sorawit Suriyakarn.

Key Features of Band Protocol

• Delegated proof-of-stake (DPoS): The DPoS consensus algorithm is used to select validators who are responsible for verifying the accuracy of the data.
• Sharding to ensure fast: Sharding is used to distribute the workload across the network, ensuring that the system can handle a large volume of data requests.

The Band Protocol coin (BAND) is the native token of the Band Protocol network. Use Cases

• Staking
• Governance
• Transaction fees

Band Protocol can be used in various use cases, including decentralized finance (DeFi), gaming, prediction markets, and more. For example, DeFi applications can use Band Protocol to source real-time price data for assets. In contrast, gaming applications can use it to verify in-game transactions or random number generation.

Several dApps and blockchains have already integrated Band Protocols, including

• Cosmos
• ICON
• Elrond
• Wanchain

Band Protocol vs Chainlink: Why has Band Protocol Underperformed Chainlink?

• Chainlink has a first-mover advantage. This has given Chainlink the benefit of building solid partnerships before Band Protocol. Band Protocol also had to deal with more competition than Chainlink
• Chainlink has a marginal advantage in supporting multiple blockchain networks
• Chainlink’s network of nodes can aggregate data from multiple sources, including APIs, off-chain databases, and other blockchain networks. In contrast, Band Protocol’s data aggregation capabilities are more limited, as it primarily relies on decentralized data providers to supply data to its network.
• Chainlink allows developers to build custom oracle networks using their own nodes and infrastructure while Band Protocol’s network is more standardized, with a set of pre-built oracle templates that developers can use to access external data
• Chainlink has a reputation system that enables it to source better-quality data

Band Protocol is simpler, has lower fees, and can be integrated quickly.

Overall, despite the strong competition, Band Protocol has performed well. It is likely that with Blockchain likely to increase usage, there will be a market for both Band Protocol and Chainlink Oracles. Band Protocol is a Good Investment.

Will Band Protocol reach $1000?

To reach $1000, Band Protocol will have to rise 613 times. At $1000, Band Protocol’s market cap would be $124 Billion. If Band Protocol were to rise at the rate of 25% every year, it would take 29 years to reach $1000. Despite being categorized as a good quality investment, it is highly unlikely that Band Protocol will ever reach $1000. However, things could be different if 90% of the Tokens were burnt.

At 90% Burn. To reach $1000, Band Protocol will have to rise 61 times. At $1000, Band Protocol’s market cap would be $12.3 Billion. If Band Protocol were to rise at the rate of 25% every year, it would take 19 years to reach $1000. The feasibility improves a lot though it still looks a little difficult.

Band Protocol Price Prediction 2023, 2025 and 2030 (Aggregated)

• Band Protocol Price Prediction 2023 is $3.1
• Band Protocol Price Prediction 2025 is $5.5
• Band Protocol Price Prediction 2023 is $25.0

Band Protocol Price Prediction Today

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.