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BAL is the native governance token of Balancer, a Decentralized Finance (DeFi) protocol that combines crypto assets to incentivize a network of nodes to operate as a decentralized exchange. The Balancer Protocol was initially developed as a research project by BlockScience in 2018, which Fernando Martinelli and Mike McDonald founded. In 2020,... Read More
The Balancer price prediction shows that BAL could be ready for the uptrend, and it may fundamentally break above $7.0 respectively. Balancer Prediction Statistics Data: [...]
Balancer’s native token, BAL, appears to be holding up despite the platform’s ongoing security issues. On Friday, Jan. 6, the DeFi project tweeted a statement asking liquidity providers on its platform to withdraw their tokens from certain pools valued at $6.3 million. Via their official Twitter handle, the decentralized exchange stated there was a security risk that could not be resolved by the platform’s emergency DAO. Thus, they advised LPs to immediately remove their assets from all affected pools. Related Reading: Polkadot (DOT) Inks 10% Rally In Last 7 Days, Makes Case As ‘Non-Security’ Asset IMPORTANT: Because of a related issue, LPs of the following pools should remove their liquidity ASAP as the issue cannot be mitigated by the emergency DAO. https://t.co/WcBeBvjdY2 — Balancer (@Balancer) January 6, 2023 BAL Token Holds Its Ground For Now Earlier today, Balancer confirmed that 85% of the assets in those pools had been moved while still urging LPs to withdraw the remainder as they attempt to resolve the issue at hand. Interestingly, amid the ongoing problem of the decentralized exchange, several investors appeared to have retained their faith in the platform’s native cryptocurrency BAL. In the last 24 hours following Balancer’s warning, BAL has appeared unaffected, decreasing in value only by 0.13% based on data from CoinMarketCap. At the time of writing, the ERC-20 token is exchanging hands at $5.35, with its market cap value set at $248,354,921, representing only a 0.11% negative change over the last day. BAL trading at $5.34 | Source: BALUSD chart on Tradingview.com While it is still too early to determine the effect of the Balancer security problem on BAL’s market performance – especially with the details still unknown – these early signs show that BAL may pull through this period, and investors need not panic. Related Reading: MATIC Advances 6.5% In Last 7 Days – Can It Sustain Gains For Another Week? Is Balancer Experiencing Another Crypto Exploit? Like every coin in the cryptoverse, there is no given certainty on market patterns. While Balancer has not revealed the nature of the security risk and has assured the public of full disclosure after a successful mitigation, much speculation is still flying around the crypto community. Many suspect a smart-contract exploit as it won’t be the first the Ethereum-based DEX would fall victim to such. In August 2020, Balancer was hacked, leading to the loss of $500,000 worth of ETH. However, compared to 2020, when Balancer was still a budding crypto project, the DeFi protocol currently ranks as the fourth biggest decentralized exchange with a TVL value of $1.49 based on data from the DeFi analytics platform Defillama. If the current fears of exploitation are confirmed, the consequences may be quite drastic for a crypto market that is currently trying to recover after the crash of the FTX exchange late last year. In November 2022, FTX, formerly one of the biggest cryptocurrency exchanges, collapsed, causing the crypto market to lose billions of dollars. The crash was due to heightened leverage and solvency concerns about FTX’s trading arm Alameda Research, leading to many investors trying to withdraw their assets from the exchange simultaneously, which resulted in a liquidity crisis and, ultimately, bankruptcy. Featured Image: ICOnow.net, Chart from Tradingview.com
Just now, the Ethereum-based DeFi liquidity provider, Balancer ($BAL) revealed a report on its TVL (Total Value Locked) which is
On November 24 in the Balancer market, after several failed bullish attempts to break through the $5.54 resistance level, the bull market finally had a [...]
Blockchain developer Nikolai Muchgian drowned on a beach in Puerto Rico, local media reported.
The post Crypto community mourns death of Balancer Labs co-founder appeared first on CryptoSlate.
After the five-day BAL market deadlock between the 11th of October and to 15th of October, the bulls gain control over the market. From the [...]
A period of market tug-of-war is what ended Balancer‘s bearish trend that started on the 11th of September to the 21st of September. The market [...]
Balancer (BAL) Price Prediction – August 12There have been happenings in the Balancer market as it experiences a sudden spike in valuation against the US [...]
Balancer (BAL) Price Prediction – June 10It showcases the BAL/USD market trends lower high in a range outlook. Price has been trading around high and [...]
Balancer is the latest decentralized exchange to arrive on Optimism. Balancer Comes to Optimism Balancer has launched on Optimism. The leading decentralized exchange, which currently ranks in the top five...
Balancer Protocol guide for beginners: What is it, how does it work, and how to register and trade cryptocurrencies on the decentralized exchanges and AMM.
Bullish BAL price prediction is $13.39 to $34.49. The BAL price will also reach $35 soon. BAL’s bearish market price
The post has appeared first on thenewscrypto.com
OlympusDAO intends to set up OHM as a liquid asset within Balancer's network, while CopperLaunch and PrimeDAO will expedite the process.
Balancer has partnered with Aave to launch Boosted Pools to increase LP yields.
Balancer Labs is working with Aave lending protocol. The former is launching its Boosted Pools. This will decrease capital efficiency ...
Two of Ethereum’s leading DeFi protocols — Balancer and Gnosis, have announced a new business partnership. The combination of both ...
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