BarnBridge’s ERC-20 token BOND has surged 744% over 10 days
The token managed to push above its June resistance level of $4.49
ERC-20 token BOND, which is used for governance and cross-platform staking on the BarnBridge blockchain platform, has seen a recent surge of more than 740%, outperforming other altcoins across the market.
BarnBridge’s ERC-20 token saw a daily low of $2.92 on 14 July, according to CoinMarketCap. But just ten days later, it hit a daily high of £24.67 – representing a 744% increase. Last month, the token was struggling to break pass the highest price it achieved in June, a daily high of $4.49 on 7 June.
Despite this surge, the price is considerably lower than BOND’s all-time high of $185.93 set on 27 October 2020. As of 26 July 2022, BOND was trading at $19.29 – up 150% on the past seven days according to CoinMarketCap data.
Although a specific reason behind the rally has not been confirmed, it might be linked to project’s latest V2 update, which was confirmed via BarnBridge’s Twitter account, stating that the second phase of the project is in sight.
BarnBridge was co-founded by Troy Murray and Tyler Ward in 2019, with the platform launching in early 2020. It currently operates on the Ethereum blockchain to help reduce volatility for traditional management tools on the decentralised finance market.
As of 22 July, the crypto has a market cap of around $134m, with a circulating supply of more than 7.11 million BOND coins.
Speaking on BOND’s Discord server, Ward confirmed that most of the V2 update will be completed by August.
He said: “Code is coming along. We are at the phase where things feel like they are happening faster than you expect vs slower than you expect, which is a sign that things are coming together and timelines get more realistic. At this point, since we have an amazing audit firm who is letting us submit changes ongoing through the audit, we’ve been able to update the front end and back end in sync.
“I think we’ll be done with the code base front end/back end, with changes from audit, by 9 August. We still have some back end work to do. From there, we’ll probably have a week where we start pushing things out via a soft launch.”