Is BALANCER a 100x investment in 2021? | From $10K to $1M
Balancer Raises Investment from Blockchain Pioneer Pantera Capital
BAL token skyrocketed by almost 8% amid investments
The exact amount of investment was not disclosed
Raised funds will help strengthen the development of Balancer V2
The developers of the decentralized finance protocol Balancer attracted investments from Pantera Capital and Alameda Research
Pantera Capital and Alameda Research have funded the development of the second version of the popular Balancer DeFi protocol. The amount of attracted investments is not disclosed, however, according to the head of development of Balancer Labs, Jeremy Mushiga, the companies directly bought BAL tokens from the project’s treasury fund..
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The Balancer Labs team is confident that funding will help accelerate the development of Balancer V2. In the second version of the protocol, it is planned to change the system architecture of the ecosystem to reduce transaction costs and improve user experience and simplify integration for developers..
Balancer is an Ethereum-based automated market maker where users can earn commission by providing liquidity to dedicated pools. Holders of the BAL project token are involved in making decisions on the distribution of rewards, the formation of pools and the mining of liquidity. In addition, Balancer offers the functionality of a decentralized exchange where you can quickly exchange ERC20 tokens..
Decentralized Finance Protocol (DeFi) Decentralized Finance (DeFi) – this is financial services, technology-based blockchain, which offer users access to an open, efficient and … More) Balancer received the money a few months after unknown attackers stole more than $ 500 thousand in the ETH cryptocurrency. The attacker managed to escape with impunity using a cryptocurrency mixer.
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However, later the developer Balancer promised to reimburse users for losses stolen as a result of a hacker attack. The protocol operator also promised to pay a reward to Hex Capital’s Ankur Agraval, who pointed out the vulnerability to the Balancer team on May 6, long before the hack..
What else scared the DeFi market in 2020 – read in a special material from BeInCrypto.
BAL jumped 15% in a matter of hours
Following the publication of token news As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More projects rose 15% and tested the high at $ 11.6. At the time of this writing, the BAL / USDT trading pair is holding at $ 11.26, showing a 9% daily rise.
On a weekly scale, BLA token grows from $ 8.15 by more than 35%.
Despite its rapid growth, the BAL token is still in a bearish trend. The annual (as well as historical) maximum of the asset was recorded in August 2020, when the asset price reached $ 37.68. Since then, the token has been steadily falling in the price range.
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