Band Protocol is a cross-chain oracle data platform, capable of taking real-world data and supplying it to on-chain applications, while linking APIs to smart contracts to facilitate the exchange of information between on-chain and off-chain data sources.
Founded in 2017 by Soravis Srinawakoon, Paul Chonpimai and Sorawit Suriyakarn.
Band Protocol is designed to be faster and more efficient than competing oracle solutions and compatible with most blockchains, including smart contract development frameworks.
A few days ago, Protocol Band launched the Mirror V2 mainnet with its partner Mirror Protocol (MIR).
1/ 🚀 Congratulations to our partners at @Mirror_Protocol on the Mainnet launch of Mirror V2! Band Protocol is delighted to help the $ MIR team to secure $ 2B in TVL for 24 mAssets and now, expand collateral to $ MIR, $ LUNA, $ ANC with $ BAND price oracles.https: //t.co/LVsszHGhY6
- Band Protocol (@BandProtocol) June 25, 2021
Mirror Protocol is a DeFi protocol powered by smart contracts on the Terra network that brings price exposure to real-world assets on-chain.
Next, examine the current BAND/USDT price movement chart.
Visible at the 2021 market opening, the Band has produced over 300% gains to record all -time highs (ATH) reaching a price of $ 23.19 on April 15th.
After recording the ATH level, the price failed to continue rising and declined more than 60% to the SBR zone (support become resistance) around $ 5.5 at the end of May in line with the fall of Bitcoin (BTC).
At the opening of the June market, the movement still remained making a drastic decline until it declined to the support zone around $ 4.5 which was the concern of investors.
For further expectations, the price is expected to re -enter the SBR zone around $ 5.5 and be tested again before making a higher rise.
However, if the Band price continues the bearish trend, the decline will re -test the support level around $ 4.5 before heading to the lowest level ever recorded before.
At the time of writing, BAND/USDT is trading at $ 5.1 jumping over 2% in the last 24 hours. The coin is currently ranked 144th on the crypto chart.
