Get yourself a crypto tee or surprise a crypto enthusiast in your life with our festive Coin Bureau Merch!
Bancor Project Review
3 min read

What About Bancor (BNT)? Seeing Where the Project’s at Today

By Editorial Team

Bancor (BNT), the so-called “first smart token,” arrived on the scene in 2017 to a flurry of hype. The project had an explosive ICO, and for a time everyone was seemingly interested in getting their hands on some BNT.

Then, the second half of 2017 came, and other coins and drama — like the August 1st Bitcoin fork and the surge of RaiBlocks (XRB) — dominated news cycles as Bancor seemingly faded acutely into the background.

But Bancor’s not down and out by any stretch of the imagination. It’s completely a case of there being so many projects in the cryptoverse, and some quiet down while others gear up in what seems like a never-ending cycle.

IQ Option Trade Credit Card

Today, then, we’ll be taking a look at Bancor: how it’s doing as of late after cooling off last year.

Bancor network grows

Keeping in mind that the Bancor Protocol is based around the facilitation of Smart Tokens with an eye to instant convertibility through smart contracts, the Bancor Network now provides decentralized liquidity for 28 different tokens. And there’s no reason to think that number won’t keep swelling.

For now, the 28 supported projects include:

  • Binance (BNB)
  • BitClave (CAT)
  • Kin (KIN)
  • Edgeless (EDG)
  • iExec (RLC)
  • WeTrust (TRST)
  • Wings (WINGS)
  • Sense (SENSE)
  • Tokenbox (TBX)
  • Trade.io (TIO)
  • WOLK (WLK)
  • Dai (DAI)
  • Storm (STORM)
  • Decentraland (MANA)
  • Goldmint (MNTP)
  • WAX Token (WAX)
  • DragonChain (DRGN)
  • Sirin Labs (SRN)

Defining terms

Bancor Coin Logo
Image via Youtube.com

In order to optimize understanding, the Bancor team has recently formalized “the language and documentation around the Bancor Protocol and Network.”

These formalizations include new precise definitions for network-relevant terms like Array token, Liquid token, Proxy token, and Relay token.

And whaddya know? The developers have also release a new whitepaper that lays out an even clearer vision for the project and its future.

Simple BNT Trading beta updated

It’s extremely easy to buy BNT in a decentralized fashion if you have ether (ETH) through the Bancor Converter. And the Bancor team has just released an update saying they’ve fine-tuned the Converter going forward.

It’s a specific process, so don’t just dive in willy nilly if you’re interested. You can find a walkthrough here. The Bancor devs have pointed out to never use addresses for BNT conversions that you haven’t pulled from the official Bancor website. Scammers abound, per usual.

Price action

BNT reached an all-time high of $10.59 USD each just days ago on January 10th, 2018. Not bad at all for a token that just began last year.

At press time, BNT is trading around $6.63. There’s no reason to think the crypto won’t reach its previous all-time high in due time, but there’s no telling when that will be as bearish trends have seemingly entered into the market.

Everything looks good for now

For BNT, everything seems to be moving along quite swell. It’s a project that does have some competition in the space, but it’s already delivering and it has a lot of room to grow accordingly.

And if you’ve been looking to get some BNT for a while, it probably wouldn’t be a bad time now, as prices are acutely down across the board.

Disclaimer: These are writer opinions and should not be considered investment advice
Featured Image via Fotolia

Editors at large. Posting the latest news, reviews and analysis to hit the blockchain.
View all posts by Editorial Team -> Best Crypto Deals ->

Related Posts

OKX vs Bybit
Bybit vs OKX 2022: Top Crypto Exchanges Compared!
OKX vs Bybit

Bybit vs OKX 2022: Top Crypto Exchanges Compared!

December 2, 2022 32 min read
OKX Earn Program: Solid APYs, but What about the Risks?

OKX Earn Program: Solid APYs, but What about the Risks?

November 30, 2022 10 min read
OKX vs Kucoin
KuCoin vs OKX 2022: Which Exchange is BEST?
OKX vs Kucoin

KuCoin vs OKX 2022: Which Exchange is BEST?

November 29, 2022 35 min read
Coinbase vs Kucoin
Coinbase vs Kucoin Review 2022: Which is the Better Choice?
Coinbase vs Kucoin

Coinbase vs Kucoin Review 2022: Which is the Better Choice?

November 28, 2022 30 min read
Daedalus Wallet Review
Daedalus Wallet Review 2022: Top Cardano Wallet for Safe Storage
Daedalus Wallet Review

Daedalus Wallet Review 2022: Top Cardano Wallet for Safe Storage

November 26, 2022 12 min read
Review the OKX Trading Bots
OKX Trading Bots: Put Your Crypto Trading on Autopilot with OKX Crypto Bots
Review the OKX Trading Bots

OKX Trading Bots: Put Your Crypto Trading on Autopilot with OKX Crypto Bots

November 22, 2022 16 min read
Trezor Model One Review
Trezor One Review 2022: The Most Trusted Wallet for SAFE Crypto Storage!
Trezor Model One Review

Trezor One Review 2022: The Most Trusted Wallet for SAFE Crypto Storage!

November 23rd, 2022 24 min read