Bancor (BNT) Trading Setup & MomentumWhat Is Bancor (BNT)?
Bancor consists of a series of smart contracts that manage the on-chain conversion of tokens. The protocol makes it effortless and quick to convert tokens without having to go through an exchange. The protocol's smart contracts manage the liquidity pools that connect various tokens available in the network.
The major token used on the network is the “Bancor Network Token,” BNT. Currently, Bancor and Uniswap are the frontrunners for this new DeFi trend.
Who Are the Founders of Bancor?
Bancor was founded by Eyal Hertzog, Yudi Levi, and Galia and Guy Benartzi in 2017. It was named "Bancor" to honour John Maynard Keynes, who came up with the word 76 years ago to describe a supranational currency.
Eyal Hertzog is the product architect of the protocol, BNT, and other products that utilize the network. He is a known voice in the crypto industry and has been a technology entrepreneur for over 20 years. He previously founded MetaCafe, a top video sharing site in Israel with over 50 million users.
Guy Benartzi is the chief executive at Bancor. He also co-founded Mytopia in 2005, a company that develops cross-platform games for users on social networks.
Galia Benartzi has been a technology entrepreneur for many years, and is a co-founder of the Bancor protocol. At Bancor, she is the business developer. She is also the CEO and founder of Particle Code.
Yudi Levi is the CTO at Bancor. He has been a technology entrepreneur for over 20 years. He previously co-founded AppCoin, an app that allows communities to create their own currencies.
What Makes Bancor Unique?
Bancor enables the seamless conversion of tokens used in the network. This removes the need for an exchange or third-party platforms. The protocol also maintains several self-governing pools for tokens supported by the network.
The uniqueness of Bancor is in their goal to create liquidity for altcoins and to remunerate liquidity providers. The protocol monotonously converts various crypto tokens into other tokens, including those running on other blockchains, without the interference of a third party.
BNT, the protocol’s main token, is the default for all smart tokens created on the network. Bancor’s creation of smart tokens is the first of its kind to be built via blockchain technology. The protocol’s main objective for creating smart tokens is to provide a lasting solution to liquidity problems, hence making it different from other market makers.
Why trade this?
I consider Bancor a top project and there's nothing that can make me change my mind. You can have set up of :
1. Either wait for the breakout of R1 explained in the chart.
2. Trade in the channel and wait for the breakout to happen, and it will, at a point.
Current closed trades (with success!):
February-March:
Chiliz
Digibyte
BAT
SC #1
SC #2
SC|BTC
March-April:
StormX
Perlin
ETC
DOGE
April-May (Open Trades):
OMG
NANO
BNT
For details comment at any time!
Don't forget to hit the like and follow button if you find this helpful!
Chartomatic
