Altcoins

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 worth motion – each on the charts and on the chain.

Additionally, since 15 July, the worth of BOND token has grown by over 200%. Exchanging arms at $21.24 on the time of writing, how else has this token fared?

BOND on a mission

Since 15 July, BOND has recorded an enormous progress in its worth. On 15 July, its worth was pegged at $3.23. However, within the final 11 days, the worth of the token has grown by 291%. At press time, the token exchanged arms at $20.98. 

Recording progress of over 557%, the token’s market capitalization rose from $22.66 million to $149.66 million within the stated interval. 

With the worth growth within the interval underneath assessment, 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.

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Still, on an uptrend, information from CoinMarketCap revealed a 21% uptick within the worth of BOND within the final 24 hours. 

On the each day chart, the token’s Relative Strength Index (RSI) has been on an uptrend since 14 July. At press time, this key indicator was pegged at 79.68.

Similarly, the token’s Money Flow Index (MFI) was parked on the severely overbought area of 93.45. With these indicators on an uptrend in the previous couple of days, a major accumulation of the tokens has been underway, therefore the worth progress. 

However, it’s pertinent to level out that the RSI and MFI occupy severely overbought positions, and it’s not unusual for this to be adopted by a pointy retracement within the worth. 

BONDUSDT 2022 07 26 08 50 51

Source: TradingView

On-chain exercise ranges 

Santiment revealed a progress within the token’s on-chain exercise together with its worth. The index for the distinctive addresses that transacted BOND within the interval underneath assessment additionally grew by 51%.

At press time, each day lively addresses on the community stood at 109 addresses. This metric rose to a excessive of 606 addresses on 23 July. Furthermore, the expansion of recent addresses on the community shot up by over 800% within the interval underneath assessment.

The combination quantity of tokens concerned in all transactions accomplished inside the interval underneath assessment touched a excessive of 9.66 million on 16 July. After that, it started declining and was pegged at 566,000 by press time. 

BarnBridge BOND 09.05.15 26 Jul 2022

Source: Santiment

Furthermore, since 15 July, BOND’s Mean Dollar 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 up to now 11 days. Interestingly, holders of 100 to 100,000 BOND decreased their holdings because the cash pumped. But, unbeknownst to this class of buyers, the coin continued to pump regardless.

BarnBridge BOND 09.14.19 26 Jul 2022

Source: Santiment

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