BAND Price Prediction - Top Crypto Gainer Surges 133% With $4.50 In Sight
Band Protocol, a decentralized finance (DeFi) token in the Ethereum ecosystem, has, over the last 24 hours, exploded by 133% to change hands at $3.51 during the European session on Friday. Before this breakout, BAND moved sideways between support at $1.10 and resistance at $1.30. If investors refrain from locking in profits, Band Protocol price could rise to tag $4.50, a move that will bring the $6.00 level within reach.
Band Protocol's rally occurred as investors positively reacted to the project's new mainnet version, referred to as BandChain V2.4. The software upgrade comes exactly a week after the launch of Laozi-testnet-6 and the latest version of the blockchain's IBC version.
The BandChain V2.4 is a major update and carries a lot of significance to the network. One of the major changes the upgrade focuses on is how to calculate gas on the BandChain to ensure that user experience is improved and the network's throughput time.
Band Protocol has employed a new Metering Middleware from Wasmer. It is faster and more secure than the outgoing 'inject gas' technique.
"This transition allows the OS to efficiently calculate gas consumption in a manner that is not only more methodical, but also structurally sound," Band Protocol explained in a blog post.
Band Protocol price is among the top gainers on Friday, bolstered by a 1,187% spike in related trading volume. According to price data from CoinMarketCap (CMC), BAND's volume holds slightly above $1 billion – traded over the last 24 hours. The token's fully diluted market also shot up significantly to $345 million at the time of writing.
From the chart below, BAND flipped bullish immediately after jumping above the resistance provided by a descending trend line. The price struggled
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