BarnBridge’s BOND gains 200%- Here’s why you should care
The previous few weeks have revealed a brand new participant on the chain — BOND. As per information from Santiment, BarnBridge’s native token has revealed vital value motion – each on the charts and on the chain.
Moreover, since 15 July, the worth of BOND token has grown by over 200%. Exchanging palms at $21.24 on the time of writing, how else has this token fared?
BOND on a mission
Since 15 July, BOND has recorded a large progress in its value. On 15 July, its value was pegged at $3.23. Nonetheless, within the final 11 days, the worth of the token has grown by 291%. At press time, the token exchanged palms at $20.98.
Recording progress of over 557%, the token’s market capitalization rose from $22.66 million to $149.66 million within the mentioned interval.
With the worth increase within the interval beneath overview, buying and selling exercise for BOND additionally rose considerably. At press time, the buying and selling quantity was noticed at 155.15 million, registering over 80% progress within the final 11 days.
Supply: Santiment
Nonetheless, on an uptrend, information from CoinMarketCap revealed a 21% uptick within the value of BOND within the final 24 hours.
On the every day chart, the token’s Relative Energy Index (RSI) has been on an uptrend since 14 July. At press time, this key indicator was pegged at 79.68.
Equally, the token’s Cash Circulation Index (MFI) was parked on the severely overbought area of 93.45. With these indicators on an uptrend in the previous few days, a big accumulation of the tokens has been underway, therefore the worth progress.
Nonetheless, it’s pertinent to level out that the RSI and MFI occupy severely overbought positions, and it isn’t unusual for this to be adopted by a pointy retracement within the value.
Supply: TradingView
On-chain exercise ranges
Santiment revealed a progress within the token’s on-chain exercise together with its value. The index for the distinctive addresses that transacted BOND within the interval beneath overview additionally grew by 51%.
At press time, every day energetic addresses on the community stood at 109 addresses. This metric rose to a excessive of 606 addresses on 23 July. Moreover, the expansion of latest addresses on the community shot up by over 800% within the interval beneath overview.
The mixture quantity of tokens concerned in all transactions accomplished inside the interval beneath overview touched a excessive of 9.66 million on 16 July. After that, it started declining and was pegged at 566,000 by press time.
Supply: Santiment
Moreover, since 15 July, BOND’s Imply Greenback invested Age (MDIA) has taken on a downtrend. When the MDIA slope of a token lower, that is often indicative of a bull run on the token.
This has been so within the case of BOND prior to now 11 days. Curiously, holders of 100 to 100,000 BOND decreased their holdings because the cash pumped. However, unbeknownst to this class of buyers, the coin continued to pump regardless.
Supply: Santiment
