Mar 4, 2021 12:22 GMTCrypto News
Bancor Protocol’s total value locked surpasses $1 billion in cryptocurrency assets.
Other developments surrounding the project have pushed BNT’s price by 47% in less than four days.
If the bullish momentum persists, this cryptocurrency could surge another 35% to hit $9.
Bancor became the 13th DeFi platform to join the “four comma club,” a common moniker given to projects whose total value locked (TVL) hits $1 billion or more. The development has pushed BNT price by 47% in less than four days, with more upswings on the horizon.
Gasless voting and new burn mechanism pave the way
Bancor, an on-chain liquidity protocol, saw its TVL increase by 40% since March 1, pushing it past the billion-dollar-mark to where it currently stands. The reason for such a stark increase could be the recent announcements by the team behind the project. Some notable developments include the “gasless voting” proposal and the new vBNT burn mechanism.