Balancer (BAL) Trading Down 12.2% Over Last Week

Balancer (BAL) traded down 0% against the U.S. dollar during the one day period ending at 21:00 PM ET on September 22nd. Balancer has a market cap of $280.37 million and approximately $9.25 million worth of Balancer was traded on exchanges in the last day. One Balancer coin can currently be purchased for approximately $5.36 or 0.00027801 BTC on exchanges. In the last week, Balancer has traded 12.2% lower against the U.S. dollar.

Here’s how related cryptocurrencies have performed in the last day:

  • Zoo Token (ZOOT) traded down 2.2% against the dollar and now trades at $0.0500 or 0.00000260 BTC.
  • CareCoin (CARES) traded down 99.8% against the dollar and now trades at $0.0622 or 0.00000323 BTC.
  • OmniaVerse (OMNIA) traded 5.2% higher against the dollar and now trades at $0.0045 or 0.00000023 BTC.
  • Euro Coin (EUROC) traded 0% lower against the dollar and now trades at $0.83 or 0.00004307 BTC.
  • Jeff in Space (JEFF) traded flat against the dollar and now trades at $2.11 or 0.00010948 BTC.
  • AXIA Coin (AXC) traded 0% higher against the dollar and now trades at $13.43 or 0.00069573 BTC.
  • MVP Coin (MVP) traded down 28.6% against the dollar and now trades at $2,053.00 or 0.10636024 BTC.
  • Lumi Credits (LUMI) traded up 1.4% against the dollar and now trades at $0.0051 or 0.00000026 BTC.
  • Tarality (TARAL) traded 11.3% lower against the dollar and now trades at $0.0008 or 0.00000004 BTC.
  • The Web3 Project (WEB3) traded up 213.7% against the dollar and now trades at $517.71 or 0.02213862 BTC.

Balancer Coin Profile

Balancer launched on June 20th, 2020. Balancer’s total supply is 52,328,236 coins. Balancer’s official message board is balancer.finance/blog-feed. Balancer’s official Twitter account is @BalancerLabs and its Facebook page is accessible here. The official website for Balancer is balancer.finance.

According to CryptoCompare, “An AMM, or Automated Market Maker is a general term that defines an algorithm for creating and managing liquidity. Instead of paying fees to portfolio managers to rebalance the users' portfolio, they collect fees from traders, who rebalance their portfolio. Users can earn returns by providing liquidity or as a trader swap between any assets in the global liquidity pool.The protocol operates a few types of pools:Private pools give the owner governance over the pool, and make the person the sole contributor of liquidity to the pool. Also, all the parameters are mutable by the owner.Shared pools are for those who want to become liquidity providers (LPs). The LPs are rewarded with the Balancer Pool Tokens (BPTs).Smart pools are similar to private pools but are controlled by a smart contract. They also reward using BPTs and allow anyone to contribute liquidity to the pool.For Balancer, security is a top priority and that is why the protocol has been fully audited three times by Trail of Bits, ConsenSys and OpenZeppelin. There are no admin keys or backdoors, hence, making it trustless, and the balancer pools are not upgradeable. Balancer does not support tokens that do not conform to the ERC-20 standard, even though they may be in use on some pools. The tokens held on Balancer pools are not controlled by Balancer, but are smart contracts. Nevertheless, that does not remove the inherent risks of smart contracts. The configurable rights pools (CRPs) ensure that tokens with known issues are barred from being used in pools. It further ensures that all other tokens safely interact with the protocol.”

Balancer Coin Trading

It is usually not currently possible to buy alternative cryptocurrencies such as Balancer directly using U.S. dollars. Investors seeking to acquire Balancer should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Balancer using one of the exchanges listed above.

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