Following the recent developments in the cryptocurrency space, it appears as if Bancor is suddenly of great interest. The recently announced “version 2” of this protocol warrants some cautious optimism at this time.
The Bancor price has undergone a very interesting transformation lately.
Bancor Price Spike is Surprising
It surged out of the blue to a relatively high value.
To most people, this seems weird, even though there is a good reason as to why things are heading in this direction.
A few weeks ago, the team announced “version 2” of its protocol.
This change introduces a lot of changes, including for its liquidity, efficiency, support for lending protocols, et cetera.
All of this will occur at some point in Q2 2020, thus the new changes are not live as of right now.
Especially the single token exposure for providing liquidity is rather interesting.
Liquidity providers no longer need to hold reserve tokens to provide liquidity for some other ERC20 token.
In a perfect scenario, liquidity providers will maintain a long position and earn trading fees at the same time.
All of these changes are very prominent for the Bancor protocol as a whole, and will introduce a lot of positive momentum.
Whether it means the native token needs to rise in value, is a different matter altogether.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.