Balancer AMM and Defi Protocol; BAL/USDT analysis
Balancer mission is to become the primary source of DeFi liquidity by providing the most flexible and simple platform for asset management.
❇️ COINMARKETCAP's DATA :
Rank #136 kind: Token- On 39,755 watchlists -
Market Cap :$448,088,157
Volume24h:$184,689,336
Circulating Supply :6,943,831 BAL -- 7%
Max Supply:100,000,000
Total Supply: 35,725,000
What Is 🌟Balancer (BAL)🌟?
Balancer is an automated market maker (AMM) that was developed on the Ethereum blockchain and launched in March 2020. It was able to raise a $3M seed round by Placeholder and Accomplice. Balancer protocol functions as a self-balancing weighted portfolio, price sensor and liquidity provider. It allows users to earn profits through its recently introduced token ($BAL) by contributing to customizable liquidity pools.
❇️Balancer is similar to #Uniswap and #Curve, in that it enables anyone to create pools of tokens. The pool adjusts itself to keep the tokens equally weighted regardless of changes in their price. However, one unique feature of Balancer is that more than one token can be added and ETH isn’t required.
Although, Balancer isn’t the first DeFi protocol to make use of AMMs, however, it has brought a new face and approach to liquidity.
❇️Who Are the Founders of Balancer?
Balancer Lab was founded by Fernando Martinelli and Mike McDonald, but it began as a research program at a software firm “BlockScience” in 2018. The Balancer project features intelligent, like-minded fellows with an acute understanding of the DeFi space.
coinmarketcap -- balancer.fi
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✅TECHNICAL ANALYSIS
As you can see in the Weekly time frame chart for BAL/USDT, the price is trading around 65 $ .
Although there are many upward signs, such as the cup pattern, etc. for balancer , but certainly not yet reached its final target.
And we see that the ascent continues to advance in a its trend line , and we can imagine an ascending channel, that BAL can correct down to the bottom of this channel near the green support areas, or even reach the ceiling of the canal , near its targets, and no definite decision can be made. Therefore, you should use every opportunity to enter a long position.
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💥(Anyway, my constant suggestion to my dear community is to buy step by step ( in a few steps) , With considering risk management , Because this crazy market is very volatile than you have never seen in any other markets .)
💫(also Following security measures is vital in cryptocurrency trading. Always remember that $100 worth of a token may become a fortune someday. So treat every penny with respect.)
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.💯
🙏with Best Regards and successful trades❤️
💜 if you're fan of my analyses you can support me with your 👍 likes 👍 and 💭comments 🗯
❇️ COINMARKETCAP's DATA :
Rank #136 kind: Token- On 39,755 watchlists -
Market Cap :$448,088,157
Volume24h:$184,689,336
Circulating Supply :6,943,831 BAL -- 7%
Max Supply:100,000,000
Total Supply: 35,725,000
What Is 🌟Balancer (BAL)🌟?
Balancer is an automated market maker (AMM) that was developed on the Ethereum blockchain and launched in March 2020. It was able to raise a $3M seed round by Placeholder and Accomplice. Balancer protocol functions as a self-balancing weighted portfolio, price sensor and liquidity provider. It allows users to earn profits through its recently introduced token ($BAL) by contributing to customizable liquidity pools.
❇️Balancer is similar to #Uniswap and #Curve, in that it enables anyone to create pools of tokens. The pool adjusts itself to keep the tokens equally weighted regardless of changes in their price. However, one unique feature of Balancer is that more than one token can be added and ETH isn’t required.
Although, Balancer isn’t the first DeFi protocol to make use of AMMs, however, it has brought a new face and approach to liquidity.
❇️Who Are the Founders of Balancer?
Balancer Lab was founded by Fernando Martinelli and Mike McDonald, but it began as a research program at a software firm “BlockScience” in 2018. The Balancer project features intelligent, like-minded fellows with an acute understanding of the DeFi space.
coinmarketcap -- balancer.fi
------------------------------------------------------------------------------------------------------------------
✅TECHNICAL ANALYSIS
As you can see in the Weekly time frame chart for BAL/USDT, the price is trading around 65 $ .
Although there are many upward signs, such as the cup pattern, etc. for balancer , but certainly not yet reached its final target.
And we see that the ascent continues to advance in a its trend line , and we can imagine an ascending channel, that BAL can correct down to the bottom of this channel near the green support areas, or even reach the ceiling of the canal , near its targets, and no definite decision can be made. Therefore, you should use every opportunity to enter a long position.
--------------------------------------------------------------------------------------------------------------------
💥(Anyway, my constant suggestion to my dear community is to buy step by step ( in a few steps) , With considering risk management , Because this crazy market is very volatile than you have never seen in any other markets .)
💫(also Following security measures is vital in cryptocurrency trading. Always remember that $100 worth of a token may become a fortune someday. So treat every penny with respect.)
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion and you are responsible for your own trades or invests.💯
🙏with Best Regards and successful trades❤️
💜 if you're fan of my analyses you can support me with your 👍 likes 👍 and 💭comments 🗯
