Over the past few weeks, crypto investors have largely focused their efforts and attention on a select set of players. These include Cardano and Chainlink \u2014 two altcoins near the top of the leaderboards that have gained hundreds of percent in mere months.<\/p>\n
But there are other projects that have rallied. Band Protocol, whose native token is BAND, has gained approximately 400% in the past month alone, with its token now trading at $5.00. It is a competitor to Chainlink, as both projects intend on accomplishing a similar goal of connecting the internet to the decentralized web.<\/p>\n
The cryptocurrency is benefiting from a series of partnerships with startups in and outside of this industry \u2014 the latest of which was announced on Wednesday.<\/p>\n
Band Protocol, an oracle project backed by Sequoia Capital and some of crypto’s notable funds, announced a partnership with ICON on Wednesday. In a press release shared to the project’s Medium, Band’s Kevin Lu wrote<\/a>:<\/p>\n “ICON Network, one of the largest decentralized blockchain networks, has strategically partnered and chosen Band Protocol to provide secure and verified data oracles for its rapidly growing decentralized application ecosystem.”<\/p><\/blockquote>\n The duo intends to focus on ICON’s decentralized applications in the decentralized finance, prediction market, sports\/esports betting, and RNG\/VRF market segments.<\/p>\n The founder of ICON, Min Kim, shared the excitement expressed by the Band team:<\/p>\n “The strategic partnership and integration with Band Protocol to the ICON Network will bring increased security and scalability to all the decentralized applications built on South Korea\u2019s largest blockchain project. Band Protocol\u2019s oracle will simultaneously strengthen the existing network and allow expansion to new real-world uses.”<\/p><\/blockquote>\n Analysts say that BAND has room to appreciate further as more partnerships are rolled out.<\/p>\n Kelvin Koh, a partner at the Spartan Group and a former\u00a0Goldman Sachs partner, explained his opinions on this in a Twitter thread<\/a> published last week. (The thread was notably published when BAND was 60% lower than it is trading at now.)<\/p>\n 0\/ The first phase of $BAND\u2019s re-rating culminated in its mainnet launch lifting its circ. market cap to $40M (FD $200M).<\/p>\n The next phase of $BAND\u2019s re-rating has started and will focus primarily on partnership announcements in the coming 6-12 months. https:\/\/t.co\/7h2TeZIppL<\/a><\/p>\n — Kelvin Koh (@SpartanBlack_1) July 13, 2020<\/a><\/p><\/blockquote>\nThere Is Room to Rally for BAND<\/strong><\/h2>\n
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