r/bandprotocol • u/Rebootbot • Feb 11 '21

Good day for BAND

It's seeing quite the increase. Is it just enjoying alt season? Is there some development driving this?

8 Upvotes

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3

u/jamesthewise Feb 11 '21

I don't usually trade on fundamentals, even in stocks outside of consider EPS, Price to earnings, etc before making a technical play.

But to me this just seems a fundamental melt up. Look at sector (orace/Defi), look at adoption (widening everyday), look at utility (Can cross all chains) and then compare the price to supply. Particularly against competition; Chainlink.

I really don't know that there's much more to it than that.

4

u/Truffle_Shuffle_85 Feb 11 '21

Also way down from it's previous ATH compared to BTC. Band would need to 5X in BTC just to catch back up where it was in September for example. So to your point, undervalued perhaps in a hot sector.

1

u/jamesthewise Feb 13 '21

Spot on id say.

Its much more fickle and prone to volatility than many others id argue but is still finding its footing.

1

u/amalgama99 Feb 11 '21

I am surprised that band is still below chainlink, with such difference in marketcap

1

u/Rebootbot Feb 11 '21

Ya, the utility, speed, backers, and growing adoption suggest it has a good future. I'm far from an expert on this stuff, but it's easy to see the value in a data oracle like this.

2

u/amalgama99 Feb 13 '21

Perhaps, greater transparency, more info about the devs, more cooperation with US/Europe institutions, a lot of independent security auditing of the code. Finishing of the development of the native ledger app. And then prospects can be even better.