It seems that the times of explosive crypto gains are again. In the span of about 5 minutes, Band Protocol (BAND) received approximately 45% towards the U.S. dollar as buying volume surged.
The chart under is from Alex Kruger, an analyst in the cryptocurrency space. It displays that the asset jumped from the $5.40 high it was buying and selling at to a local substantial of about $7.91 in just the span of one particular 4-hour candle.
Chart of BAND's the latest value action from Alex Kruger. Chart at first from Binance.
In accordance to knowledge from TradingView.com, a the vast majority of the gains of the surge have been incurred inside of a five-moment time period.
The cause for this surge is easy: Coinbase Pro. Far more precisely, as the asset surged greater, the foremost cryptocurrency trade declared by means of tweets that it had mentioned Band Protocol.
“Mon, Aug 10, our BAND-USD, BAND-BTC, BAND-EUR & BAND-GBP purchase books will enter transfer-only manner, accepting inbound transfers of BAND in supported regions. Orders cannot be positioned or crammed. Trading will begin on/soon after 9AM PT the next working day, if liquidity circumstances are achieved.”
Mon, Aug 10, our BAND-USD, BAND-BTC, BAND-EUR & BAND-GBP purchase guides will enter transfer-only mode, accepting inbound transfers of BAND in supported locations. Orders can’t be put or filled. Trading will start on/soon after 9AM PT the pursuing working day, if liquidity situations are satisfied.
— Coinbase Professional (@CoinbasePro) August 5, 2020
BAND tokens proceeded to rally as this was the 1st main exchange they experienced been detailed on aside from Binance, which a short while ago released futures for the cryptocurrency.
The cryptocurrency was also benefiting from a not long ago announced partnership with Elrond.
“ElrondNetwork $ERD, a main blockchain platform concentrated on scalability, has picked out to combine $BAND oracles to convey substantial enhancements to the existing information availability and scalability in their speedily escalating application ecosystem.”
Showcased Image from Shutterstock Price tags: BANDUSD, BANDBTC Charts from TradingVIew.com Chainlink Competitor Band Protocol (BAND) Surges 50% In 5 Minutes: Here is Why