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BAND cryptocurrency gains 300% in seven days

The BAND token more than tripled its value in just one week.

Image by: Band Protocol

Wed, 12 Aug 2020, 04:13 am UTC

Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, managed to briefly push past the $12,000 mark on Sunday evening before falling back in the $11,300 range. However, a few smaller cryptos have made far bigger gains such as BAND, which posted a 300 percent rise in just seven days and LINK, which added 120 percent to its value in one month.

The BAND cryptocurrency has made spectacular gains in just one week. The native token of the Band Protocol’s price rose by more than 300 percent in just seven days, according to Bitcoin.com.

The publication noted that BAND was only trading at around $3.86 on August 3. Seven days later, the token’s price climb as high as $17.18 as of Monday, August 10, 09:49:04 UTC+08:00 based on data from CoinMarketCap.

This represents a massive 345 percent rise in just one week. However, BAND was not able to maintain its price above $17 per token. At the time of writing, the crypto traded at $12.12 but that price is still 232 percent higher than its August 3 price of $3.86.

The publication noted that there has been a sharp rise in volume for the crypto. On August 10, 24 hours traded volumes for the token reached $167.4 million while BAND’s price reached a new high of $17.78.

BAND’s price rally came after recent announcements of partnerships and integration. On August 9, the token was listed on Houbi just a few days after its Coinbase listing. It was also announced last week that Band Protocol has entered into a partnership with ICON network’s “fourth-largest public representative,” Ubik Capital.

Aside from BAND, another cryptocurrency that posted massive gains recently is LINK, the native token of Chainlink. LINK traded at $8.35 while BAND was trading at $3.86 on August 3. Seven days later, it posted a new all-time high of $14.45, representing a 73 percent price increase in just a week.

The LINK token added 120 percent to its price in just one month on top of its 500 percent gain last year, according to Forbes. However, there are those who believe that the crypto’s price still has room to grow as it is still “wildly undervalued.”

“We believe the value of link will track the value of the smart contract platform it is securing, meaning the long term market cap of link will eventually be larger than ethereum’s current market cap today,” Michael Anderson, co-founder of Framework Ventures, said.

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