BarnBridge (BOND) price prediction: What is BarnBridge?

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Can BarnBridge maintain its recent form?

BarnBridge                                 
Will BarnBridge continue to recover from recent lows? - Photo: Shutterstock
                                

Contents

BarnBridge (BOND) is a token that has enjoyed a recovery lately. Let’s take a deeper look, and look at BarnBridge price predictions, too.

BarnBridge explained

One of the most important concepts when it comes to cryptocurrency and, by extension, blockchain technology as a whole is that of decentralised finance (DeFi). The intention to allow the 1.7 billion or so people in the world who do not have access to a bank account access to traditional financial services is at the core of what crypto, in its own ideal world, wants to achieve.

While there are plenty of crypto platforms that offer loans and the equivalent of interest generating savings accounts, as well as coins and tokens that are designed to serve as stores of value,  there are some places in the crypto sphere that allow people to take part in more advanced and complicated financial transactions. BarnBridge is one such blockchain-based platform. 

The idea behind BarnBridge is that, with cryptocurrency being as volatile as it is, there should be a way in which to either mitigate or even profit from the volatility. This is linked in with the concept of tokenisation. What this means, in effect, that pretty much anything that can be traded can be turned into a token with a certain value. For example, you can have a token that represents the price of a certain sort of stock. This token, which usually but not always exists on a blockchain, will rise and fall as the stock itself rises and falls. A tokenised security is a blockchain-powered tradable financial asset, which meets all the regulatory requirements of the country it is born in. The idea is that tokenised assets allow people to trade and, potentially, profit from the underlying market price of traditional assets using their crypto holdings. Part of the idea is to make investing more accessible to people.

BarnBridge, to put it extremely simply, in the business of serving up fluctuation-based derivatives in tokenised form. The idea is that people will be able to profit on fluctuations in the market and, with cryptocurrency as volatile as it is, there is a fair bit of potential when the market is bullish.

As the system’s whitepaper says: “BarnBridge is a risk tokenising protocol. It aims to reduce the risks associated with DeFi, such as interest rate sensitivity and market price volatility risk. By letting users select a risk profile, BarnBridge can redistribute risk via tokenized, liquid tranches. BarnBridge does this with its SMART Yield and SMART Alpha products, all of which address a specific DeFi risk category.”

SMART Yield is a part of the platform that allows people to gain interest on their crypto. Customers deposit stablecoins into the protocol and, in return, are able to get Yield, the cryptocurrency equivalent of interest. There are two different types of pools that people can put their stablecoins in. Senior pools have a lower rate of yield, but are less risky, and junior pools have more potential for profit but, because they are higher risk, there is a greater opportunity for loss. SMART Alpha does more or less the same thing, except that it works with tokens based on the Ethereum blockchain.

One of the most important things about any blockchain or blockchain based network is its own native token. BarnBridge’s is known as the BarnBridge token or BOND. BOND is used as as the governance token of the BarnBridge DAO (decentralised autonomous organisation) which, in effect, runs the BarnBridge network. This means that people who hold the BOND token can stake it in return for the right to vote on how the system is run. 

BarnBridge was founded in 2019 by crypto entrepreneurs Troy Murray, who is based in Puerto Rico, and Tyler Scott Ward, based in North Carolina, working alongside software architect Milad Mostavi, the project’s CTO, stack developer Dragos Rizescu and data scientist Bogdan Gheorghe, with the BOND token coming onto the open market the following year. However, control of the system is in the hands of the BarnBridge DAO.

BOND price history

Now, let’s examine BOND’s price history. While past performance should never be taken as any sort of indication of future results, knowing what the token has done during its time being traded can help give us some context if we want to interpret a BarnBridge price prediction or else make one of our own.

When BOND first came onto the open market in October 2020, it was initially traded at a very high price, and its value of $185.93 on 27 October that year still serves as an all-time high. A combination of factors, not least investors considering it to be overvalued, caused it to fall, but things picked up again, at least relatively speaking, in early 2021. At this time, the crypto market went through a real boom period, with prices shooting up across the board, and BOND reached a periodic high of over $88 in the middle of March that year.

After the Great Crypto Day Crash of 19 May 2021, BOND dropped to a low of below $20 in mid July. August was a better time, with a growing interest in non-fungible tokens (NFTs)  causing the price to reemerge above $30 late in the month. As Bitcoin reached new highs,the token hit a periodic high of $53.17 on 10 November. After that, though, there was a steady decline, made worse by a contracting market as concerns about the omicron variant of Covid-19 spread, and it closed the year at $16.49.

BOND price history
BOND price history - Credit: Currency.com

So far, 2022 has been a really weak year for crypto, and the BarnBridge token price has yet to beat the $21.36 it reached on New Year’s Day, with a low of $6.83 in the wake of Russia’s invasion of Ukraine on 24 February. In May, the depegging of the UST stablecoin and the collapse of the associated LUNA cryptocurrency caused the token's price to drop to $3.08 on 14 May. When the Celsius crypto lending platform cancelled withdrawals in June, it was confirmed that the crypto market was a bear, and BOND sank to an all-time low of $2.19 on 18 June. 

On 16 July, the token more than trebled from a low of $3.15 to a high of $9.54 in the wake of a tweet implying that the system could soon offer sustainable fixed yields and, while the price did drop slightly over the next couple of days, it was worth about $8 on 18 July 2022. At that time, there were more than seven million BOND in circulation out of a total supply of 10 million. This gave the token a market cap of about $57m, making it the 354th largest crypto by that metric. 

BarnBridge price prediction

Before we look at BarnBridge price predictions, keep in mind that price forecasts are very often wrong, and that is even more true when it comes to something as volatile as cryptocurrency. 

CoinsKid has a BOND price prediction that sees the token hit $8.77 by the end of 2022, before it rises to $12.14 in July 2023. A year from then, it should be worth $13.99, while the site makes a BarnBridge price prediction for 2025 that sees it start the year at $16.82, reach $21.12 in July and end the year at $23.87. In 2026, BOND should be worth $26.08, the site says, before it trades at $29.84 in October. 

CaptainAltCoin has a BarnBridge price prediction for 2022 that says BOND should drop to a low of $5.92 in October this year before it starts to recover and reaches $10.08 in July 2023. The site predicts that the token should hit $15.64 in 2025, but that is as good as it gets. It believes that BarnBridge’s price should drop to $0 by July 2027 and, perhaps even more worryingly, BOND should not even recover slightly, staying at that level in both 2030 and even 2040. 

PricePrediction.net is rather more  bullish in terms of its BarnBridge crypto price prediction. The site says that BOND should steadily grow over the next nine years or so, reaching $4.35 this year, $6.26 next year and $9.19 the year after that. By 2025, BOND should be worth $13.48, it predicts, before it grows to $19.59 in 2026 and $28.74 in 2027. In 2028, the token will, if the site is correct, trade at $40.16 before it closes the decade at $57.79. The site goes on to make a BarnBridge price prediction for 2030 that sees the token worth around $83.96 before it breaks through the $100 barrier to trade at $122 in 2031. 

Finally, WalletInvestor is much more pessimistic and bearish when it comes to making a BOND token price prediction. The site says that the token will lose somewhere in the region of 90% of its value by July 2023, when it will be worth a mere $0.715. 

Final thoughts

A system based on the inherent volatility of crypto can work well, but only when the market is bullish. Since, at the time of writing, the market is still bearish, any potential profit brought about by BarnBridge may not happen for a little while.

Second, the whole concept behind the BarnBridge platform and the BOND token is both rather complex and somewhat niche. It will be interesting to say if the token can expand its reach and what it will do to do that. As ever with crypto, it is important to be careful and act with due caution if you want to invest in BOND.

FAQs

How many BarnBridge are there?

On 18 July 2022, there were more than seven million BOND in circulation out of a total supply of 10 million.

Is BarnBridge a good investment?

It might be. There is the potential for some growth although, with the market in the state it is, it can be hard to say what form that growth might take and when it might happen. It is very important to do your own research before you invest in BOND.

Will BarnBridge go up?

It might do. The token has been performing well at the time of writing (18 July 2022), although we do not know whether that rise will be sustainable. We also need to remind you that cryptocurrencies are very volatile, so prices can go down as well as up.

Should I invest in BarnBridge?

This is something that you will have to answer for yourself. Before you do so, you will need to do your own research, remember prices can go down as well as up, and never invest more money than you can afford to lose. 

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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