Cryptocurrency token BOND grew by 800% in a month

The new cryptocurrency token BarnBridge (BOND) has grown by more than 800% in a month, after reaching its lowest price.

As it has become known, the new DeFi token BOND has reached a value of $ 20, having risen in price by more than 800% - a month ago, the token was trading for $ 2.19. For comparison, the most popular tokens Bitcoin and Ethereum grew by only 18% (BTC) and 54% (ETH) over the same period.

According to experts, if you pay attention to the concentration of trading volume, the profits from BOND seem speculative. According to CoinMarketCap, more than 50% of trading started 24 hours ago. At the same time, the daily trading activity of BOND/USD decreased as the price rose. The discrepancy between the value and trading volume indicates that the price increase was influenced by suspiciously few investors, so we should expect a sharp correction in the near future.

Crypto experts advised users to be careful and invest only in proven digital assets. As a reminder, the market capitalization of cryptocurrencies increased by 15% over the past week, all thanks to the announcement of the date of Ethereum’s transition to the green blockchain. According to Cointelegraph Markets Pro and TradingView, the price of Ethereum rose by 38.5% after the merger date was announced. The transition of Ethereum to a PoS network is expected to reduce energy consumption by 99%.