Bancor
About Bancor
The price of Bancor (BNT) is $0.45368231 today, as of Sep 16 08:26 p.m., with a 24-hour trading volume of $279,080. Over the last 24 hours, the price has decreased by -4.79%. Bancor currently has a circulating supply of 124.89M and a market cap of $56.66M.
BNT is the native cryptocurrency of Bancor, a blockchain protocol that lets users directly convert virtual currencies rather than using centralized cryptocurrency trading platforms.
Through its on-chain liquidity protocol and Smart Tokens, Bancor aims to enable automated and decentralized exchange on Ethereum and other blockchains. Bancor wants to facilitate automatic price determination and autonomous liquidity mechanism for tokens on blockchains supporting smart contracts. Bancor network token (BNT) is the blockchain’s native asset, and the token has seen some wild price swings over the years.
The BNT price has had numerous ups and downs since the asset’s introduction. It touched all-time lows of $1.44 on Jan. 23, 2021, and rose to an all-time high of $10.72 on March 10, 2021. The BNT price rose substantially and there was relative stability until mid-May 2021. A price drop occurred afterward, bringing the value down by almost 65%. A few volatile weeks followed with the price drifting even lower, but the market stabilized by mid-October 2021. The BNT price hovers near $4, generally. BNT has a maximum supply of 227.80 million tokens, almost all of them are in circulation at this time. However, not all of the supply is liquid, as 82.274 million BNT are accessible. As no additional inflation or issuance of tokens are in the works, the number is expected to remain unchanged.
Moreover, the supply of BNT is deflationary through the use of the Bancor Vortex Burner, which introduces an adjustable-fee taken from all swap revenue generated by liquidity providers. Through this fee cut, the Burner will buy vBNT assets to increase locked liquidity in the protocol. Additionally, the Burner continuously buys BNT and removes it from circulation, creating deflationary pressure. The upward price pressure on vBNT lowers borrowing risks for users leveraging their BNT stakes.