BAND Protocol Prices Stabilize After A 40% Plunge: Will These Key Developments Help?

BAND prices remain stable when writing. However, considering recent development within the Band Protocol ecosystem, there could be more upsides as the project unveils new features and strikes strategic partnerships.

Timeline of Band-protocol

Band Protocol (BAND/USD) has pulled back in the past few days as the recent crypto rebound fades. The token retested the important support at $2, which was a few points below the year-to-date high of $2.37. This price is about 100% above the lowest point in 2022.

The crypto market continued its topsy-turvy performance last week, with several cryptocurrencies experiencing a brief spike last week and then shedding part of the gains. But some altcoins have doubled their value in the past week after gaining more than 100%.

Band Protocol, a decentralized finance (DeFi) token in the Ethereum ecosystem, has, over the last 24 hours, exploded by 133% to exchange hands at $3.51 during the European session on Friday. Before this breakout, BAND moved sideways between support at $1.10 and resistance at $1.30. If investors refrain from locking in profits, Band Protocol price could rise to tag $4.50, a move that will bring the $6.00 level within reach.

Band Protocol ($BAND) has announced that Web3 and dApp projects on the BNB Chain, Ethereum, Polygon and other blockchains can now integrate its tamper-proof Verifiable Random Function (VRF).