Your average crypto investor may not have heard of Band Protocol, but this project performs a function that will be essential if blockchain is to become a truly mainstream technology. As the age of web 3.0 dawns, the projects like Band Protocol are the ones that will facilitate the change and allow blockchain technology to be integrated into just about every kind of business, social, and even governmental process.
Meme coins, NFT, play-to-earn, and DeFi projects may hog most of the limelight when it comes to the crypto headlines, but many of the most ambitious cryptocurrency platforms would not be able to operate without the more utilitarian projects - projects like Band Protocol.
Band Protocol is a cross-chain data oracle platform. So what does it do? Put simply, what Band Protocol does is allow blockchains to communicate with and use data from outside data sources - i.e systems that are not blockchain-based. The advantages of such a platform should be fairly obvious. But when thinking about the challenges of web 3.0, these projects will be more or less essential.
But how does Band Protocol stand as an investment opportunity? It isn’t the only oracle platform out there, so should you be adding BAND to your portfolio or are there better options out there? In the following Band Protocol price prediction for 2025 and 2030, we’ll be looking at what is expected from the project in terms of price movement, as well as how it measures up against rival platforms.
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Web 3.0 And ‘Outside’ Data Sources
Web 3.0 is said to be the next evolution of the internet - wherein major systems will be decentralised and blockchain technology will underpin just about every industry, from retail to gaming. However, this will be an evolution of the current landscape. Web 2.0 and other legacy systems and other legacy systems are not going to suddenly disappear overnight - nor is the data.
We all know that blockchains are one of the most secure ways of communicating transactions or functions online. But they are of limited use if outside data cannot be used. For example, if a crypto gambling platform needs to verify a customer's ID against a document to meet with any regulatory rules, it will need to be able to handle outside data sources.
Similarly, any crypto projects that serve transport or manufacturing sectors will need to have access to information from those sectors, which could be anything from production details to environmental factors.
We sure most readers will be able to grasp the importance of web 3.0 projects being able to utilise non-blockchain data sources, so what options do developers have for making this a reality? The answer lies in oracle platforms, just like Band Protocol.
Oracle Platforms
Oracle platforms are blockchain projects that link dApps and other blockchains to data from the outside world. Effectively, what they do is bundle data, such as stock prices, weather information and even deeds and identity documents, and package them into smart-contract format. These contracts can then be read by smartchain based crypto platforms.
There are several oracle platforms out there, so it’s important to note that the Band Protocol is not without competition. The most well-known oracle project is undoubtedly Chainlink, which is used by several prominent dApps and DeFi platforms – particularly those looking to provide crypto derivatives.
Then there are lesser-known projects like QED, API3 and WitNet. All of these Oracle platforms serve a similar purpose and all have their relative strengths and weaknesses. So what makes the Band Protocol stand out?
A Closer Look At The Band Protocol
Oracle projects are developed to allow non-blockchain data sources to be used by blockchain projects. This will allow crypto-based projects to execute demands and interact with real-world data sources. This means that blockchains like Ethereum and Binance Smart Chains will be able to receive data such as a person’s identity details, environmental data, and even political events.
The Band Protocol and Cosmos
The Band Protocol is built on the Cosmos network - which itself is focused on interoperability, making it highly suitable for an oracle platform and this is just one of the things that makes Band Protocol and stand out from its rivals, such as Chainlink, most of which are built on Ethereum.
Because Cosmos is touted as the ‘Internet of blockchains’ it means that, in theory, the Band Protocol can provide its oracle services to pretty much any app on any blockchain out there, from Avalanche to Binance Smart Chain. This is something that cannot necessarily be said for Ethereum-based oracles.
The Tendermint Core Consensus Method
Another advantage the Band Protocol has over some of its rivals is scalability. The project uses Tendermint Core Consensus method, which is basically an improved version of Practical Byzantine Fault Tolerance algorithm. This is all highly technical and far beyond the scope of this article to break down into any real detail, but suffice to say TCC is fast - very fast.
Being faster makes the Band Protocol a more suitable oracle solution for dApps and projects that need up-to-the-minute data feeds that require regular updates - share prices, for example. In addition, Band Protocol is also able to keep its fees much lower in comparison to Ethereum-based oracles.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The BAND Token
The Band Protocol is powered by its native token, BAND. BAND has a number of different use cases. Firstly, the token can be used to power the nodes on the network to verify transactions and essentially keep things running as they should. Those who stake their tokens as validators are rewarded with a percentage of the network fees. BAND holders who can’t commit to running nodes have the option of delegating their tokens to others, again in exchange for a relative share in the fees.
BAND is also used as the governance token for the protocol. This means that holders get to vote on any potential changes proposed for the project. The more tokens someone holds, the more votes they get.
There is a total supply cap of 100,000,000 BAND.
Looking At Band Protocol’s Price History
The BAND token was first widely listed back in September 2019 and since then it has seen some intriguing price movement. Whilst it failed to make any major waves when it launched, there have been several notable bulls in BAND’s relatively short existence.
The token initially traded at around $0.47. It then more or less halved in value across its first two months on the market, dropping below $0.25 throughout November 2019 and finishing the year at $0.23. When 2020 arrived, there was a gradual change of fortune, with BAND starting to trend upwards–albeit slowly. By March of that year the token had reached a new high of $0.52.
The summer of 2020 then saw things really turn around for BAND. In the first few weeks of July, the token surged to an unprecedented $4.45–marking growth of over 1600% for the year to date. However, things then went stratospheric in August and the Band Protocol soared in value to $14.91, peaking again a few weeks later to go past $15 in the first few days of September.
The meteoric price rises of summer 2020 weren’t to last, however, and BAND soon went into a fairly steep decline. In fact, by October prices had dropped back below the $5-mark and November would see a low of $4.07. There was a fair bit of volatility throughout the remainder of 2020, before 2021 saw some substantial bulls.
The crypto market surged several times in 2021. The first occurred in January, which swept BAND up along with it, taking the token over $10. However, this was nothing compared with what was to come. February saw Band Protocol’s price hit $18.70 and another surge in April took the token to its all-time high of $22.83.
Unfortunately, things have been more or less downhill since then. Whilst there was another bull before 2021 ended, the crypto market has since crashed fairly heavily and January 2022 saw BAND drop below $3.50 once again. There was an uptick in April that took the token to $5.40, but it has been downhill since and the token was sitting at a mere $1.43 at the time of writing.
Band Protocol BAND/USD price chart. Source: Coinmarketcap
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Band Protocol Price Predictions For 2025
So we have seen that BAND is capable of holding some significant bull markets. That being said, it has been a highly volatile token so those who have previously invested in the token will have needed to have timed things very well in order to see returns. So what can we expect in the future? We turned to market analysts to find out.
First up, we looked at DigitalCoinPrice’s Band Protocol forecast for 2025. Its technical analysis suggests the token will be well on the road to recover before the end of 2022, potentially getting back past $2.00 by December. Growth will then be slow but steady across 2023, with the token trading at an average of $2.12. By the time 2025 arrives, BAND is predicted to be worth up to $2.90.
Elsewhere, CoinsKid has made a similar BAND price prediction. It has the token growing slowly but surely over the next three to four years. By mid-2023, it expects the token to be trading at an average of $2.00 and will continue to grow slowly across 2024. CoinsKid then expects BAND to reach a potential high of $3.09 in 2025.
TradingBeasts has also made its forecast for BAND. The platform is reasonably optimistic and has BAND growing by around 28% before the end of 2022, finishing the year at an average trading price of $1.89. However, it diverges from the other predictions we looked at in that it sees significant volatility over 2023 and 2024. That being said, by 2025, TradingBeasts has Band Protocol reaching a potential high of $3.30 - up almost 80% on today’s price.
Looking Further Ahead: Band Protocol Price Predictions For 2030
The BAND forecasts we have seen are certainly encouraging. Of course, these figures are never guaranteed but the fact that the top analysts are all predicting growth is certainly a good sign. But what can we expect from the Band Protocol over the longer term? Once again, we consult the data from market analysts to build a BAND price prediction for 2030.
DigitalCoinPrice thinks the token will continue to be relevant. By 2028, it expects the token to have reached $4.00 as an average trading price and the following year it could reach a potential high of $6.05. By the time 2030 arrives, DigitalCoinPrice’s analysis suggests that BAND could be worth up to $6.80.
Another long-term Band Protocol price prediction comes from PricePrediction.net. Its technical analysis suggests that BAND could grow significantly in value in the coming years. The token has been predicted to reach a potential high of $20.00 by 2028 and by 2030 it may even double that number, with the platform predicting a max trading price of just over $40 per token.
We should point out that the longer ahead you look, the less reliable a price prediction is. It’s also worth noting that the crypto market is one of the fastest changing in the world - it’s difficult to predict what trends, technology and regulation will emerge to significantly impact the market over the next few years. As such, BAND price predictions for 2030 should be seen as one possible outcome amongst many.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Conclusion: Should You Invest In Band Protocol?
Band Protocol is an interesting prospect. There is absolutely no doubt that oracle platforms will become more and more important as Web 3.0 becomes a reality and this one certainly has the credentials to meet the needs of most of the current generation of dApps and projects that require data feeds from the non-blockchain world.
The issue for investors is identifying which oracle platforms will emerge as the dominant projects in the space. Band Protocol’s strength is that it runs on the Cosmos blockchain which, in theory, gives it a higher degree of interoperability than many of its rivals. However, the arrival of Ethereum 2.0 could change this.
We’ve referenced several BAND price predictions that all expect the token to grow in value in the coming years. Okay, so these results are by no means guaranteed, or even that likely, but the unanimous support that BAND has is certainly a good indicator of current market sentiment towards the project.
Investing in the Band Protocol could prove to be a smart move. However, this is probably not a token for those new to the market. To be able to monitor the Band Protocol’s position in the market requires a reasonably robust understanding of the wider cryptosphere.
Where To Invest In Cryptocurrency
If you want to invest in Band Protocol, then the good news is that the token is widely listed and you shouldn’t have any trouble in finding a platform or exchange that will sell BAND. Of course, you’ll need a wallet that can support the token, but assuming you have this already, it's just a case of choosing your marketplace.
We recommend checking out eToro if you are looking for a new exchange. One of the leading names in retail investment, eToro offers competitive fees, a powerful trading platform and excellent information resources to help you manage your portfolio.
Of course, another advantage of eToro is that you can also invest in other assets and markets, so it can meet all of your investment needs via a single account.
eToro – The Best Platform To Buy Band Protocol
Open an account with eToro, deposit some funds with USD, and finally – buy BAND from just $10.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Band Protocol Price Predictions 2025, 2030 - FAQ
What is Band Protocol?
The Band Protocol is what is known as an Oracle platform. What this type of platform does is to offer to link blockchain apps and projects with data feeds from the outside world. The Band Protocol can relay just about any kind of real-world info: stock prices, environmental data, even political developments.
What are oracle platforms?
Oracle platforms allow data from non-blockchain sources to be used by blockchains. Essentially, these protocols use smart contracts to relay data from just about any source imaginable - stock prices, company announcements, election results. Oracle projects will likely prove essential as the world moves towards web 3.0.
How much will Band Protocol be worth in 2025?
Band Protocol’s BAND token has seen some pretty significant volatility since its initial launch back in September 2019 so any BAND price predictions should be taken with a pinch of salt. That being said, it certainly bodes well for the project that most analysts are predicting growth, with some suggesting it could be worth up to $3.30 in 2025.
Where can I buy Band Protocol?
If you’re looking to buy BAND then you’ll need to find a broker or exchange that lists the token. If you are yet to find a provider, then we’d definitely recommend checking out eToro, as it's one of the most trusted names in the space, not to mention offering just about every trading tool and investment service you could imagine.
Why are oracle projects important for web 3.0?
If web 3.0 is to become a reality, then the blockchain world will need more interoperability - and that includes with the non-blockchain or web 2.0 worlds. Oracle platforms allow blockchains to interact with and process real world data, which makes them essential for the future of web 3.0.
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