Token

Uniswap

Bancor

Carbon

<p><strong>The Bancor Network Token (BNT) has been the story of the day in the cryptocurrency industry. The token is currently trading at $0.53, marking an impressive increase of nearly 50% in the last 24 hours.</strong></p> 
<p>But what’s driving this surge? Let’s delve into the insights provided by some top-notch analysts and well-known traders on Twitter.</p> 
<p>Rick Barber (@Rick_Barber_), a renowned technical analysis expert, <strong><a href="https://twitter.com/Rick_Barber_/status/1687588529746886656?s=20" target="_blank" rel="noopener noreferrer nofollow">attributes the surge to a realization</a></strong> of BNT’s deflationary tokenomics model. He mentions that CarbonDeFixyz, a blockchain project, is directing most of its fees toward buying and burning BNT. This strategy, according to Barber, has previously driven the token to an all-time high of nearly $10 and is now very revenue-focused.</p> 
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<p>The Bancorians (@bancorians), a group of famous Twitter analysts, highlighted a significant strategy placed on-chain by CarbonDeFixyz. They reported a $133k strategy to buy BNT at $0.39, with no intention of selling any acquired BNT as the linked sell order is disabled. This strategy can be tracked via the provided Etherscan link.</p> 
<p>Bitpeaks (@bitpeaks), another well-known trader, <strong><a href="https://twitter.com/bitpeaks/status/1687755350156431360?s=20" target="_blank" rel="noopener noreferrer nofollow">noted</a></strong> that BNT bids are currently 6% higher than asks ($326,377 : $308,449), indicating a strong support level for buying at $0.5175.</p> 
<p><em><strong>Source: <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="CoinStats" href="https://captainaltcoin.com/go/coinstats-3/" data-shortcode="true">CoinStats</a></strong></em></p> 
<figure class="wp-block-image size-large"> <a href="https://captainaltcoin.com/go/coinstats-3/" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" loading="lazy" width="1024" height="699" src="https://captainaltcoin.com/wp-content/uploads/2023/08/chart-8-1024x699.png" alt="" class="wp-image-305374" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/chart-8-1024x699.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-8-300x205.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-8.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-8-1536x1048.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-8-2048x1397.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-8-220x150.png 220w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-8-100x68.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-8-513x350.png 513w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-8-788x537.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"></a> 
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<p>Luke BitPro (@LukeBitPro), a top-notch analyst, <strong><a href="https://twitter.com/LukeBitPro/status/1687524919616368640?s=20" target="_blank" rel="noopener noreferrer nofollow">advises</a></strong> traders to avoid FOMO buying at this moment. He suggests waiting for the price to dip toward the $0.45 – $0.41 range for a better buying opportunity.</p> 
<p>Eldar Capital (@eldarcap), a well-known trading firm, has also <strong><a href="https://twitter.com/eldarcap/status/1687762310180331520?s=20" target="_blank" rel="noopener noreferrer nofollow">weighed in</a></strong> on the recent price movement of Bancor’s BNT. They find the price surge a bit peculiar, questioning whether it’s driven by people loading up on the token due to optimism about the growth potential of CarbonDeFixyz. </p> 
<p>While acknowledging the innovative design of CarbonDeFixyz and its potential to gain increasing traction, Eldar Capital suggests that the current fundamentals might be a bit weak to justify such a high Fully Diluted Valuation (FDV) for BNT.</p> 
<p>This analysis adds a note of caution to the bullish sentiment around BNT. <strong>An elementary examination of factors such as trading volumes, fees, Total Value Locked (TVL), the number of strategies, and user base reveals that Carbon is not yet on par with leading decentralized exchanges like Uniswap, Curve Finance, and Balancer.</strong></p> 
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 <p><em>A simple analysis of volumes, fees TVL, strategies number and users show that Carbon it yet nowhere near competition with leader DEX like Uniswap, Curve and Balancer</em> says Eldar Capital</p> 
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<p>The surge in BNT’s price can be<strong> attributed to its deflationary tokenomics model and strategic buying. </strong>However, traders are advised to wait for a potential dip for a better buying opportunity. As always, it’s crucial to do your own research and consider the advice of experts like these before making any investment decisions.</p> 
<h2 class="wp-block-heading" id="about-bancor">About Bancor</h2> 
<p>Bancor is an ecosystem of decentralized, open-source protocols that promote on-chain trading and liquidity. Its main protocol, Carbon, is a decentralized trading protocol allowing users to perform automated trading strategies using custom on-chain limit orders and range orders, with the option of combining orders together to create automated buy low, sell high strategies. </p> 
<p>By design, Carbon orders are irreversible on execution, easily adjustable directly on-chain, and resistant to MEV sandwich attacks. These capabilities give users an unprecedented level of control and automation to perform novel trading strategies on-chain. All Bancor ecosystem protocols are governed by the BancorDAO via staked BNT.</p> 
<p>Disclaimer: <em>This publication by CaptainAltcoin does not endorse or assume responsibility for the content, accuracy, or quality of materials and readers should conduct their research before engaging with any mentioned company, as the featured information is not intended as legal, tax, investment, or financial advice, and CaptainAltcoin is not liable for any damages or losses arising from the use of content, goods, or services featured on this page.</em></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/why-is-bnt-price-pumping-today-top-trader-warns-bancor-is-nowhere-near-uniswap-and-curve/">Why is BNT Price Pumping Today? Top Trader Warns Bancor is Nowhere Near Uniswap and Curve</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Why is BNT Price Pumping Today? Top Trader Warns Bancor is Nowhere Near Uniswap and Curve

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CaptainAltcoin

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