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The previous few weeks have revealed a brand new participant on the chain — BOND. As per information from Santiment, BarnBridge’s native token has revealed vital value motion – each on the charts and on the chain.
Moreover, since 15 July, the worth of BOND token has grown by over 200%. Exchanging palms at $21.24 on the time of writing, how else has this token fared?
BOND on a mission
Since 15 July, BOND has recorded an enormous development in its value. On 15 July, its value was pegged at $3.23. Nevertheless, within the final 11 days, the worth of the token has grown by 291%. At press time, the token exchanged palms at $20.98.
Recording development of over 557%, the token’s market capitalization rose from $22.66 million to $149.66 million within the mentioned interval.
With the worth growth within the interval underneath assessment, buying and selling exercise for BOND additionally rose considerably. At press time, the buying and selling quantity was noticed at 155.15 million, registering over 80% development within the final 11 days.
Supply: Santiment
Nonetheless, on an uptrend, information from CoinMarketCap revealed a 21% uptick within the value of BOND within the final 24 hours.
On the day by day chart, the token’s Relative Power Index (RSI) has been on an uptrend since 14 July. At press time, this key indicator was pegged at 79.68.
Equally, the token’s Cash Circulate Index (MFI) was parked on the severely overbought area of 93.45. With these indicators on an uptrend in the previous few days, a big accumulation of the tokens has been underway, therefore the worth development.
Nevertheless, it’s pertinent to level out that the RSI and MFI occupy severely overbought positions, and it’s not unusual for this to be adopted by a pointy retracement within the value.
Supply: TradingView
On-chain exercise ranges
Santiment revealed a development within the token’s on-chain exercise together with its value. The index for the distinctive addresses that transacted BOND within the interval underneath assessment additionally grew by 51%.
At press time, day by day energetic addresses on the community stood at 109 addresses. This metric rose to a excessive of 606 addresses on 23 July. Moreover, the expansion of recent addresses on the community shot up by over 800% within the interval underneath assessment.
The combination quantity of tokens concerned in all transactions accomplished throughout the interval underneath assessment touched a excessive of 9.66 million on 16 July. After that, it started declining and was pegged at 566,000 by press time.
Supply: Santiment
Moreover, since 15 July, BOND’s Imply Greenback invested Age (MDIA) has taken on a downtrend. When the MDIA slope of a token lower, that is often indicative of a bull run on the token.
This has been so within the case of BOND prior to now 11 days. Curiously, holders of 100 to 100,000 BOND decreased their holdings because the cash pumped. However, unbeknownst to this class of buyers, the coin continued to pump regardless.
Supply: Santiment
