BNT falters ahead of v2 release: can we bounce back?
Quick takeaways:
- Despite the recent 2017-like gains, Bancor’s on-chain and social activity has been giving some mixed signals about the coin’s short-term potential
- Assets covered: BNT
- Metrics used: Daily active addresses, Supply on exchanges, Exchange inflow, Holder distribution, Top 100 non-exchange addresses, Top exchange addresses, MVRV ratio, Crowd sentiment
It’s never been a better time to be a DeFi coin. And while the crowd focus is still firmly on the likes of COMP, LEND and REN, the market has now fostered a number of complementary pumps that warrant an analyst’s attention.
Case in point: Bancor’s native token BNT which - even with today’s strong 9.9% correction - remains up +36.6% for the week and a ridiculous +148% for the past 30 days. Can you say ‘DeFi season’?
However, despite the 2017-like gains, Bancor’s
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