Price for today
3,23 USD -3,5%
0,00003180 BTC -3,5%
Name: Balancer
Symbol: BAL
Circulating supply: 0 $
Max supply: 0 $
Price: 3,2303333 $
Volume 24h: 632841 $
Market Cap: 204.702 M $
Percent change 24h: -3,5 %
Balancer is an automated market making protocol launched in March 2020. The protocol operates on a model similar to that used by decentralized exchanges like Uniswap. Balancer is a non-custodial portfolio manager, liquidity provider and price gauge. According to Defipulse, Balancer has already entered the top 5 largest DeFi protocols. The volume of funds blocked for the protocol reached $ 62.8 million. During the day, this value increased by 42.22%. Balancer allows users to create pools of tokens that are automatically rebalanced and tokenize those pools. Balancer has introduced its own coins that are shared between all stakeholders with a special procedure called liquidity distribution.
Balancer (BAL) is a token that powers the Balancer platform. Balancer as a protocol is basically an automated market maker that lets users create liquidity pools and earn profit. In this article, we’ll explain the Balancer crypto and the protocol, as well as show you how to convert the token using Godex. Read on.
The Balancer crypto is the main coin behind an automated market maker of the same name. The protocol was developed on the Ethereum platform; its launch took place back in March 2020. It features customizable liquidity pools to which users can stake to provide liquidity and earn profit from the fees, just like in many other AMM exchange platforms. It’s similar to platforms such as Uniswap and Curve, but it lets liquidity providers (LPs) have up to eight assets per single market that are automatically rebalanced.
The BAL coin is used to award LPs, with new cryptos awarded on a weekly basis. You can then use an exchange that supports the Balancer token and exchange it for another cryptocurrency. Godex happens to support the BAL coin, and you can swap it for many other cryptos.
The BAL coin is volatile, pretty much like any other cryptocurrency at the moment, so there’s no point talking about the current price of this crypto. Instead, make sure to examine the BAL price chart provided on this page, where you can find additional information about price changes, in addition to the BAL price today.
Have a look at the Godex smart stats. Every line on the BAL chart represents one day, and each vertical candlestick represents the price change throughout the day, meaning you can see the highest and lowest price for that day. Also, you’ll notice that some candlesticks are green while others are red. The green ones show days when the BAL cryptocurrency price was higher at the end of the day than initially, whereas the red shows the opposite.
By analyzing the chart and the current price of Balancer, you can determine when to trade the Balancer token and earn a profit.
The BAL cryptocurrency has been actively traded since June 2020. The coin immediately attracted investors, with a small peak taking place just a couple of months after the launch. The price then started falling, only to increase once again starting 2021.
It’s safe to say that BAL is relatively new, which means that there’s still time for it to form. It’s not nearly as popular as industry-leading cryptocurrencies, such as Bitcoin and Ethereum, but there’s always time for something like that to happen in the future. However, the Balancer platform would have to become popular as well, as its popularity, number of users, trading volume, and more, affect the price of BAL. Right now, Balancer has stiff competition, as there are already several more popular automated market makers.
If you want to sell your BAL token or even buy it, you can do that using the Godex decentralized exchange. It offers a quick review of each available coin balance.
First, you need to select BAL in your You Sell or You Get field, depending on whether you want to buy or sell it. Then, you need to pick another currency that you want to swap BAL for.
Finally, you need to enter the address of the wallet for the crypto you’re buying and click Exchange. Follow the steps after that to make a deposit of the token you’re selling and wait for the transaction to take place.
Godex features many great features. The most important one is anonymity. You don’t have to register on Godex to trade. In fact, you don’t have to leave any sensitive data, making trading completely anonymous and secure. This also saves you from the boring signup procedures and speeds up the trading process.
Other important features are fixed rating which means you’ll always receive the amount you were shown, even if the price changes during the swap.
Finally, Balancer doesn’t have an upper trading limit, meaning you can trade as much cryptos as you want in a single swap.
You cannot mine BAL in the traditional way like Bitcoin is mined. Instead, you can get paid for staking your tokens to the exchange. A total of 145,000 BAL is released weekly to award network participants and a total of 100 million BAL is created. Of course, part of the total coin supply was awarded to the team, marketing, and more. Still, it will take several years at this rate before all BAL tokens are mined by liquidity a provider.
Balancer is an automated market maker, just like Uniswap and Curve, but with a couple of unique twists. It features a native cryptocurrency also called Balancer (BAL).
What makes Balancer stand out from the pack is that more than one token can be added and Ethereum isn’t necessary. LPs are allowed to have up to eight different assets per single market, which is another great and unique feature of Balance. Moreover, users aren’t required to deposit 50% of the asset they want. Instead, they get to choose how much they want to deposit.
The platform didn’t feature a token right away. BAL was created in June 2020, with a total supply of 100,000,000 BAL. ¼ of that amount is reserved for the team behind Balance, as well as investors, advisers, and core developers. The Balancer Ecosystem Fund received 5 million BAL, and another 5 million was added to the fundraising fund. The rest is left to be mined, and a portion of that amount is already in circulation.
Balancer is still a young token, and it’s nowhere as popular as some of the leaders, such as Bitcoin and Ethereum. Therefore, there’s no certain way to say whether Balancer is a good investment or not, as anything could happen in the future. Even if you’re not sure about BAL as a long-term investment, you can always follow its price on a daily basis and trade it when the moment’s right to make a profit.
