All about BAL, the token of the DeFi platform Balancer
06 Feb, 2023
Balancer is a decentralized finance protocol that operates through automated markets (AMM), which determine supply and demand for assets based on mathematical formulas. BAL is its native token. ...
What you need to know about BAL
Why is BAL a token and not a cryptocurrency?
The difference between a cryptocurrency and a token is the fact that the former has its own blockchain. The Balancer protocol was developed on the Ethereum network, that is, it does not have its own blockchain. Therefore, BAL is a token. Remembering that the cryptocurrency of the Ethereum network is ether (ETH). In addition, BAL is a token that follows the standard defined by the Ethereum network and is considered an ERC-20 token.
What's the price/value of the BAL token?
As of June 2022, the price of a BAL unit was approximately 5.13 USD, subject to market variations. BAL has a maximum supply limited to approximately 96 billion units. Of these, approximately 41 billion units are in circulation, or 42% of the maximum supply.
What to expect for the BAL token?
The future of the BAL token depends on market factors, such as supply and demand for the token, and especially on Balancer's performance and the quality of services offered by it. Balancer has lately been looking to integrate its services with several other DeFi platforms such as Aave, Element, Ocean and others.
Where to buy and sell BAL?
It is possible to purchase BAL directly on the Balancer platform or on exchanges such as Bitso. At Bitso, you can purchase BAL on our website or app. Simply register on our platform, make an initial deposit of 5 USD and convert to BAL. Enjoy and check other crypto assets we offer. If you habe any questions, our team of experts is here to help with whatever you need.