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Bancor Network Token

BNT

4.8

Price
$0.44
10/7/2022, 5:25:44 AM
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Market

Market stats

Market cap

$86.6M

Volume (24h)

$3.5M

Circulating supply

198.9M BNT

Typical hold time

15 days

Popularity

#108

All time high

$23.73

Price change (1h)

-1.43%

Price change (24h)

-1.54%

Price change (7d)

-0.48%

Trading activity

58% Buy0% Buy
42% Sell100% Sell

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Bancor Network Token is on the decline this week.

The price of Bancor Network Token has fallen by 0.48% in the past 7 days. The price declined by 1.54% in the last 24 hours. In just the past hour, the price shrunk by 1.43%. The current price is $0.43575 per BNT. Bancor Network Token is 98.16% below the all time high of $23.73.

The current circulating supply is 198,857,635.679 BNT.

About

Bancor Network Token (BNT) is an Ethereum token that powers the Bancor protocol. The protocol describes itself as “a fully on-chain liquidity protocol that can be implemented on any smart contract-enabled blockchain.”

What is Bancor (BNT)?

Bancor is a collection of smart contracts that control the conversion flow between different tokens on the Bancor Network platform. According to the Bancor Network claims, these smart contracts also control access to the network's liquidity pools, which connect different tokens. Users can use the Bancor Network smart contract's convert functionalities to initiate a conversion between any tokens on the network, including tokens on other blockchains.

Currently, the Bancor Network is based on the Ethereum blockchain. However, the protocol is interoperable with other blockchains as well. The ability to check and obtain information across many blockchain systems is known as blockchain interoperability.

The Bancor Network Token (BNT) is at the center of the network, serving as a hub that connects all of the other tokens. USDB (USD Bancor) is a stable form of BNT that may be used as a substitute reserve currency for Bancor Network. Additionally, USDB is a token backed by BNT and used in Bancor Network relays.

On the Bancor Network, every liquidity pool collects liquidity for a specific set of tokens. Anyone can contribute liquidity to a pool in exchange for conversion fees on trades that pass through it. Pool tokens are then distributed to the contributors in proportion to their assets in the pool. A ConverterBase contract manages each liquidity pool, and the liquidity providers can construct new instances of the ConverterBase contract to generate new liquidity pools. ConverterBase contracts are the contracts that carry the main logic of conversion between different ERC20 smart tokens. Also, to add or remove liquidity from a pool, anyone can use the fund or liquidate functions.

Bancor's newer version, Bancor v2.1, offers additional features to liquidity providers such as single-sided exposure and impermanent loss protection. These improvements have been incorporated with the aim to produce higher and more reliable yields from trading fees and liquidity mining rewards.

History of Bancor (BNT)

According to the whitepaper, Bancor was introduced in 2017 by Eyal Hertzog, Galia Benartzi, and Guy Benartzi. The company was named Bancor in honor of John Maynard Keynes, who coined the term in 1940 to characterize supranational currency. During its ICO (initial coin offering) launch in 2017, the protocol raised around $144 million.

Eyal Hertzog has been a technology entrepreneur for more than 20 years. Currently, he is a product architect of the BNT protocol and other products on the network. He also founded a video sharing site in Israel known as MetaCafe, which has over 50 million users.

Galia Benartzi is a business developer at Bancor. She is also founder and CEO of Particle Code and has been a technology entrepreneur for a long time.

Lastly, Guy Benartzi is chief executive at Bancor and is now working on Bancor Protocol. In 2005, he also cofounded Mytopia, a company that creates cross-platform games for social media users.

How Are New Bancor Network Tokens (BNT) Created?

Bancor Network Tokens (BNT) can be created via staking. In order to stake tokens on the Bancor Network, the user needs to buy relay tokens and hold them in their wallet.

The Bancor ecosystem works on a two-way token model, which includes liquid tokens and relay tokens. In staking, relay tokens are used to provide liquidity. Also, the fraction of the staked money to the pool's total value is indicated by relay tokens. Relays allow all Bancor tokens to be easily converted into other tokens in a single transaction. Users can sell the relay tokens at any moment.

How Many Bancor Network Tokens (BNT) Are There?

BNT has a total maximum supply and a circulating supply of 236,919,305BNT coins.

How to Buy Bancor Network Tokens (BNT)

BNT tokens can be traded on Coinbase.com or Coinbase app. Trading on Coinbase is secure, safe, and easy.

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Social

Bancor Network Token on social media.

Bancor Network Token was mentioned in 126 out of 1,730,343 social media posts on Twitter and Reddit on Oct 05, 2022. 143 unique individuals are talking about Bancor Network Token and it is ranked #564 in most mentions and activity from collected posts.

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Key indicators

Contributors

143 people

Posts

126 posts

Dominance

0.01%

Volume rank

#564

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FAQ

What is the current price of Bancor Network Token?

The price of 1 Bancor Network Token currently costs $0.44.

What is the market cap of Bancor Network Token?

The current market cap of Bancor Network Token is $86.63M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Bancor Network Token?

The all-time high of Bancor Network Token is $23.73. This all-time high is highest price paid for Bancor Network Token since it was launched.

What is the 24 hour trading volume of Bancor Network Token?

Over the last 24 hours, the trading volume of Bancor Network Token is $3.54M.

What other assets are similar to Bancor Network Token?

Assets that have a similar market cap to Bancor Network Token include Cartesi, Chainbing, Steem, and many others. To see a full list, see our comparable market cap assets.

How many Bancor Network Token are there?

The current circulating supply of Bancor Network Token is 199 million.

What is the typical holding time of Bancor Network Token?

The median time that Coinbase customers hold Bancor Network Token before selling it or sending it to another account or address is 15 days.

What is the relative popularity of Bancor Network Token?

Bancor Network Token ranks 111 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Bancor Network Token?

Currently, 58% of Coinbase users are buying Bancor Network Token. In other words, 58% of Coinbase customers have increased their net position in Bancor Network Token over the past 24 hours through trading.

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