{"id":134699,"date":"2020-12-16T10:47:15","date_gmt":"2020-12-16T07:47:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bancor-soars-86-in-two-days-as-coinbase-lists-bnt-dex-volume-spikes\/"},"modified":"2020-12-16T10:47:15","modified_gmt":"2020-12-16T07:47:15","slug":"bancor-soars-86-in-two-days-as-coinbase-lists-bnt-dex-volume-spikes","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bancor-soars-86-in-two-days-as-coinbase-lists-bnt-dex-volume-spikes\/","title":{"rendered":"# Bancor soars 86% in two days as Coinbase lists BNT, DEX volume spikes"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a33e24848a80\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a33e24848a80\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bancor-soars-86-in-two-days-as-coinbase-lists-bnt-dex-volume-spikes\/#What_is_Bancor_and_why_is_it_surging\" >What is Bancor and why is it surging?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bancor-soars-86-in-two-days-as-coinbase-lists-bnt-dex-volume-spikes\/#BTC_breaking_20000_will_boost_DeFi\" >BTC breaking $20,000 will boost DeFi<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bancor soars 86% in two days as Coinbase lists BNT, DEX volume spikes<br \/>\n<\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>\nThe price of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coin360.com\/coin\/bancor-bnt\">BNT<\/a>, the native token of Bancor, surged 86% in merely two days from $1.02 to $1.919. The rally was fueled by a combination of Coinbase listing BNT and the growing volume of Bancor\u2019s DEX.<\/p>\n<p>The Coinbase listing was the primary catalyst behind BNT\u2019s strong 48-hour rally. Almost im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely after its announcement, the token\u2019s price increased by around 16% after spiking to as high as $3.70. Coinbase <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.coinbase.com\/aave-aave-bancor-bnt-and-synthetix-snx-are-now-available-on-coinbase-1e253af7e5d9\">said<\/a> on Dec. 16:<\/p>\n<blockquote><p>\u201cStarting today, Coinbase supports Aave (AAVE), Bancor (BNT), and Synthetix (SNX) at Coinbase.com and in the Coinbase Android and iOS <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>s. Coinbase customers can now buy, sell, convert, send, receive, or store AAVE, BNT, and SNX.\u201d<\/p><\/blockquote>\n<p>Although the surprise listing served as a short-term catalyst, BNT has been rallying since early November due to Bancor\u2019s momentum.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/52df3975-90de-462d-b7da-7ade11324888.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bancor (BNT) 1-day price chart (Binance). Source: TradingView.com<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Bancor_and_why_is_it_surging\"><\/span>What is Bancor and why is it surging?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bancor can be described as a decentralized exchange (DEX) and an automated market maker (AMM). On the Bancor network, anyone can trade ERC 20 tokens and various crypto assets in a decentralized ecosystem.<\/p>\n<p>With the resurgence of decentralized finance (DeFi), the daily volume and liquidity of Bancor have continuously increased.<\/p>\n<p>On Nov. 19, Bancor said that the protocol achieved $60 million in total value locked. The team <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Bancor\/status\/1329343974973329408\">said<\/a>:<\/p>\n<blockquote><p>\u201cBancor has crossed $60M in TVL! 1000s of LPs are now enjoying: single-sided AMM exposure; impermanent loss protection; BNT liquidity mining.\u201d<\/p><\/blockquote>\n<p>According to data from CoinMarketCap, Bancor has processed $14 million in trades in the last 24 hours. For a decentralized on-chain liquidity protocol, a daily trading volume <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/exchanges\/bancor-network\/\">above $10 million<\/a> is relatively high.<\/p>\n<p>To compare, SushiSwap and Uniswap, the two largest DEXs on Ethereum, process $44 million and $275 million per day, respectively.<br \/>\n<template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<h2><span class=\"ez-toc-section\" id=\"BTC_breaking_20000_will_boost_DeFi\"><\/span>BTC breaking $20,000 will boost DeFi<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Decentralized applications and DEXs within the DeFi space would have a larger room to grow if Bitcoin and Ethereum begin to rally in the short term.<\/p>\n<p>Currently, both Bitcoin (BTC) and Ether (ETH) are consolidating under key resistance levels. But several market analysts expect to see new all-time highs soon\u00a0amid several bullish signals.<\/p>\n<p>Furthermore, Alex Kr\u00fcger, an economist and trader, pinpointed the continued retest of $20,000 and the low futures funding rates as the likely catalysts to push Bitcoin beyond its record-high. He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/krugermacro\/status\/1338856073298464769\">said<\/a>:<\/p>\n<blockquote><p>\u201cThe more time $BTC spends below 20K and the lower the funding and futures basis as price approaches 20K, the stronger the upwards break once it comes. It will come.\u201d<\/p><\/blockquote>\n<p>If Bitcoin and Ethereum rally, the demand for DeFi would naturally soar. Many DeFi users often put up cryptocurrencies, like Wrapped Bitcoin and Ethereum, as collateral to gain additional exposure to cryptocurrencies.<\/p>\n<p>When the market enters a clear bull cycle, the demand for DeFi services would further increase as borrowing and trading volumes rise. Also, the risk of adding more collateral in Ethereum to secure margin drops when the Ether price is increasing.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/6280a2ec-0e7b-42c5-af0e-fbc3420e8d68.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>The total value locked across DeFi protocols. Source: Defipulse.com<\/em><\/figcaption><\/figure>\n<p>As of Dec. 16, the total value locked across DeFi protocols is hovering just under $15 billion, its all-time high.\n<\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bancor-soars-86-in-two-days-as-coinbase-lists-bnt-dex-volume-spikes\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bancor soars 86% in two days as Coinbase lists BNT, DEX volume spikes &#8221; The price of BNT, the native token of Bancor, surged 86% in merely two days from $1.02 to $1.919. The rally was fueled by a combination of Coinbase listing BNT and the growing volume of Bancor\u2019s DEX. The Coinbase listing&#8230;<\/p>\n","protected":false},"author":1,"featured_media":134700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/896d1b67-3646-4679-a5ed-a97d4c042620.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75914,74956,74868,74891,74939,73785],"class_list":["post-134699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bancor","tag-coinbase","tag-defi","tag-ethereum","tag-market-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/134699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=134699"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/134699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/134700"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=134699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=134699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=134699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}