I think Bancor looks super bullish with its chart setup, but Im also leaning on a breakout for Banor because of its continued protocol usage growth, measured by the growing daily generated protocol fees and this is especially true when compared to similar DEXes fees generated to market cap...
also, if ethereum wallet activity is any indicator, the increased investment from Large ETH wallet addresses into BNT during this recent market mini-correction (many big purchases at $5/BNT) could be important...I will be leaning bullish breakout, but still watching BNTUSD for any bearish price breakdown due to a breakdown in the price of Bitcoin or the BNT/BTC ratio... will update this after we get a clearer price direction but I linked a Crypto Fees site below if you want to monitor BNT daily fees and/or compare to the other top used protocols in DeFi.
Crypto Fees: There's tons of crypto projects.Which ones are people actually paying to use?
The site is pretty simple, just the title above and below it, a list that updates everyday with the 1 day fees and the 7 day avg fees for the top used protocols (according to fee generation) imo this is a great tool to monitor current DeFi protocol fee generation while also staying on top of any new protocols that quickly climbs up the fees list due to increased protocol usage and fee generation. hope this helps, cheers!
cryptofees.info
also, if ethereum wallet activity is any indicator, the increased investment from Large ETH wallet addresses into BNT during this recent market mini-correction (many big purchases at $5/BNT) could be important...I will be leaning bullish breakout, but still watching BNTUSD for any bearish price breakdown due to a breakdown in the price of Bitcoin or the BNT/BTC ratio... will update this after we get a clearer price direction but I linked a Crypto Fees site below if you want to monitor BNT daily fees and/or compare to the other top used protocols in DeFi.
Crypto Fees: There's tons of crypto projects.Which ones are people actually paying to use?
The site is pretty simple, just the title above and below it, a list that updates everyday with the 1 day fees and the 7 day avg fees for the top used protocols (according to fee generation) imo this is a great tool to monitor current DeFi protocol fee generation while also staying on top of any new protocols that quickly climbs up the fees list due to increased protocol usage and fee generation. hope this helps, cheers!
cryptofees.info
Comment:
Comment:
first post about BNT was at $6.03... I originally used the CoinbasePro chart of BNT/USD but ended up liking the Binance BNT/USD chart better due to the full trading history of Bancor, going back to 2017... this current resistance makes a lot more sense using the Binance full trading history chart and Im leaning towards a parabolic move if/when we breakout from this resistance... beyond the chart, I would really look into BNT's single sided liquidity pools and the current percent returns... this could be a sleeping giant when compared to Uni/Sushi (which are both great projects as well)