When Defi tokens are mentioned this year, Balancer (BAL) always has a place in the top Defi token rankings. The governance token came to the limelight shortly after Compound and attracted a lot of attention. Unlike Aave or Compound, Balancer is not a lending protocol but can be seen as a decentralized exchange (DEX), an automated market maker (AMM). As you probably know, decentralized exchanges are very popular these days, and Balancer is no exemption.
This is why crypto investors are curious about the BAL price in the future. Many are curious if it is a good investment, and should they buy BAL tokens. In this article, we are going to discuss the Balancer (BAL) price predictions for 2021. Hopefully, these forecasts will help you to decide if BAL is the right investment for you.
What is Balancer (BAL)
The Balancer is a decentralized finance protocol based on Ethereum that allows for automatic market-making (AMM). The protocol reduces the cost and slippage between trades of different cryptocurrencies.
The Balancer is a decentralized replacement for the traditional market maker, a 3rd party platform that brings liquidity to traded assets. The BAL protocol can be called upon by different decentralized trading exchanges to automatically figure out the best rates and trading prices using smart order routing (SOR).
The funds needed to complete a trade can also be provided by the protocol, using funds from available Balancer pools.
Origin of Balancer
The DEX was launched in September 2019 by Mike McDonald and Fernando Martinelli. Since the launch, the company has seeded over $3 million in investment successfully. From that time till now, Balancer has become one of the top 10 projects in the Defi world. The functionality and ease make it unique for users looking for exchanges between Ethereum tokens.
When the project was launched, Balancer didn’t have its own traditional native token, but that changed last year when the company revealed its governance token $BAL. So far, many cryptocurrency exchanges are trading BAL, such as Binance, Kraken, Coinbase, etc.
Is BAL a Worthy Investment?
The freedom aspect that Defi is offering is providing investors the ability to move funds unabated from one protocol to another. The Balancer is an improvement of the Uniswap protocol – one of the most successful DEX. However, through the introduction of few improvements on the Uniswaps rail and also specifically introducing the BAL governance token, the token gained popularity. BAL acts as an incentive for liquidity providers while protecting them from impermanent loss.
Also, the unveiling of a self-readjusting pool without portfolio management fees whose governance token began last year June gives it an edge over AMM.
However, to know the true nature of the coin, we need to look at the future price forecast for the cryptocurrency and assess whether Balancer will be a worthy long-term investment.
Balancer (BAL) Forecast for 2021
Since the BAL token launch, it has gained a lot of traction, which might be because of the recent rise in cryptocurrency.
We are going to look at the various BAL price predictions for 2021 from different platforms, individuals, and YouTube channels and share them with you so that you can make your investment decisions regarding the token.
Let’s look at most of these forecasts.
Balancer 2021 Price Forecasts on Popular Crypto Websites
These websites make their future coin projections based on a lot of factors. These factors can be in the form of innovations or market cap. But whichever way, the analyst in these platforms has dropped their opinion. It is left for you to make your investment decision regarding the cryptocurrency.
The Digitalcoinprice platform is a renowned platform that posts the future price of digital currencies. Studies from the platform show that their price forecast is mainly based on their analysis and historical data of the cryptocurrency.
From their estimation, the BAL tokens will trade at $76.31 at the end of the year. But during our review of their forecast, we saw that their BAL price prediction for the year shows a bullish run. So, we are hoping that their prediction will come to pass.
This website does not only show the price chart of digital currencies, but it also goes ahead to forecast the future price of cryptocurrencies. Their analyst reveals their estimated future price of cryptocurrencies. They think that Balancer (BAL) will reach a maximum price of $53.74. But their coin future estimates don’t end there as they also believe that the coin might trade at an average price of $45.66.
Looking at their future forecast, we can see that their prediction is based on the coin’s historical price. The website also made it clear that no one can accurately predict the future price of coins and that their predictions are merely a suggestion and not intended for investment advice.
Walletinvestor platform Balancer review for 2021 gives a bullish trend. After analyzing the coin, their experts established that the coin price would rise in the year. According to their forecast, the BAL coin might reach as high as $53.38. Their estimation also showed that the coin might also trade at an average price of $46.39.
But, looking at their forecast, we could establish that they are highly optimistic about the coin rising in value in the year. This is complemented by their bullish forecast for the subsequent years.
Coinarbitragebot’s BAL price prediction
It is no doubt that the BAL value made a promising start this year. It is while it has drawn a lot of attention so far. Another platform, Coinarbitragebot, thinks that based on the historical price data, the Balancer (BAL) token could be $33.66 at the end of the year 2021. They went further to say that the coin might reach $41.15 a year later (2022). Coinarbitragebot also thinks that the coin might reach $240.19 within the next five years.
What this simply means is that their analyst thinks that the coin is not an excellent 1-year investment. However, if you are considering a long-term investment, they give a green light on that. Considering the history of their cryptocurrency forecasts, we think that you should take a look at this forecast.
Like the rest of the platforms, we have also looked into Balancer’s future projection from this platform. One unique thing about this platform forecast is that they went as high as representing their forecast in a chart, making it easier for users to easily understand their prediction.
Looking at Gov.capital, the experts on the website think that the BAL tokens will trade at an average price of $26.10 in 2021 with a minimum price of $22.18 and a maximum price of $30.01. But one thing caught our eyes; they quoted the coin having a bullish price movement in the year. But considering the current price, we think that the prediction is outdated and should be taken with a pinch of salt.
The way cryptocurrency forecast is displayed in cryptocurrencypriceprediction makes it easier to understand how they arrived at their prediction. The website does not only predict the future price of cryptocurrencies; they also run a technical analysis on the coin to know if it is going to be a viable investment or not.
Their BAL price prediction for 2021 shows a bullish run. They think that the token’s price will reach $95.03. That’s huge, right? Well, their subsequent year’s prediction is mind-blowing. The experts in the platform see the coin value exploding in the future.
Like other cryptocurrencies, Balancer experiences high volatility, which is while it is necessary to predict the future price of BAL and invest wisely. Pickacrypto is one of the websites which spends quality time analyzing different cryptocurrencies before forecasting their future worth.
As we looked into the website, they predict that the Balancer price will reach $50 to $75 before the end of 2021.
They considered several factors in their prediction, such as; the historical price data, the market capitalization, the volume, etc. The platform has the notion that with the support/resistance, trendlines, moving averages, and simple indicators like the RI, users can create a reasonably accurate Balancer price prediction for few months ahead of time.
Summary: Although we have brought you the various price predictions from different platforms, it is also imperative that you take these forecasts as a suggestion instead of as investment advice when deciding on this cryptocurrency.
Balancer Price Predictions for 2021 on Twitter
Twitter users have voiced their opinion on the BAL cryptocurrency. With millions of people investing in cryptocurrency, it is necessary for people to disclose their opinion regarding the coin. Through such avenues, we can learn one thing or another. Let’s check these BAL predictions from Twitter users.
The Twitter user has voiced her opinion regarding the price of BAL for the year. In her tweet, she thinks that Balancer token price will rise as high as $100 this year.
— Shahila Crypto 🌕 (@Shahilacom) February 11, 2021
Looking at her tweet, we think that her prediction was made by looking at the coin’s historical price chart. Her prediction also drew some comments from users, which you can check out.
The Twitter user asked his followers their $BAL predictions on this bull run; you can follow the response here:
What’s your price prediction for $bal on this bull run? Thanks in advance
— crytpo89 (@crypto2021bh) February 1, 2021
The bull run is the rise in the value of cryptocurrencies, which started earlier this year.
The ongoing surge in cryptocurrency is drawing a lot of worldwide attention. It is triggering a lot of comments. In a tweet, the user predicted the price of coins for the year. According to him, the BAL price will reach $100 in 2021.
— Faᴄᴇ. | 𝘽𝙍𝙍𝙍𝙍 (@TheMCFaceman) February 2, 2021
Looking at this user’s prediction, we can see that it was made in August last year. The Twitter user forecasted the price of various coins, including $BAL. In his prediction, he thinks that the Balancer price will hit $1000 this year.
BTC is pumping hard, so time for unrealistic crypto predictions again:$XTZ $2$BTC $100k$ETH $10k$XHV $100$KSM $1000$YFI $1M$XOR$ 5k$BAL $1k$ATOM $2k$UNI $500$SCRT $100$STX $100$CVP $100$STAKE $1k$DOT $1k$CREAM $1k
*These are most of my bags..so please pamp it 😉
— xCryptoDV🛡 𝕊 (@cryptodv) November 6, 2020
When you look at the forecast, you will see that they are all made based on the coins’ historical price chart. Although some users found the predictions funny, one certain thing is that the Twitter user believes that the coins will have a bullish run this year.
Balancer 2021 Price Prediction on YouTube
On YouTube, we have also checked the various BAL prediction for the year. Check most of them below.
The YouTube channel has analyzed the price of BAL for the year and has dropped their prediction. From their YouTube video, they think that coin is capable of exceeding $31 in the year.
Looking at the comments below the video, the majority of the users agreed with the bullish run, while few were neutral. You can check them out.
From the analysis in the YouTube channel, the user believes that the coin is capable of increasing by 100x in the year. The user thinks that the BAL token is capable of reaching $50 in 2021.
The YouTube channel thinks that the coin is capable of tripling in the year. According to the YouTube channel, the coin will reach $20 this year. However, the prediction was made last year when the coin was trading at less than $10. So, considering the timestamp of the projection, we think the channel means a bullish run.
Will BAL Reach $150?
There is a good possibility that BAL will reach $150 in the future. According to Digitalcoin, by 2028 BAL will already have surpassed the $100 mark making the $150 mark a real possibility.
Is BAL Likely to Crash in the Future?
There is no indication to suggest that the protocol will crash in the future. There is about $ 1,928,794,901 locked away or staked in the Balancer protocol and a market cap of $158,540,006 as of June 12, 2021. The protocol was also able to raise $3 million in funding from Accomplice and Placeholder. All these points at a solid foundation for the protocol to thrive on.
Is BAL a Legit Project or a Scam?
Everything points at a legit project. First, the protocol is the creation of Mike McDonald and Fernando Martinelli who are some of the best minds in the Defi world with rich experience. Second, the protocol prioritizes security above all else and has put the protocol through auditing three times. OpenZeppelin, Trail of Bits, and ConsenSys carried out the auditing.
The Balancer has position itself as a powerful tool to automate marketing making and reduce transaction fees for different cryptocurrencies. The Balancer is not without reason one of the most used Defi/DEX protocols and takes AMM to a next new level.
The various ways to compose and configure pools make Balancer a very liquid market with reasonable prices. With their unique formula, which negates and actively discourages hefty fees, Balancer has created a decentralized project that could potentially be an autonomous system with a community emphasis.
This has drawn individual and institutional investors to the cryptocurrency and thereby increasing the value of the coin. From our predictions so far, we can see that majority saw value in the BAL token and thinks that Balancer can become one of the leading DEX in the year.
A user even went as high as predicting that the coin will reach $1000 in the year, which shows his level of optimism in BAL. From your own view, what do you think about the BAL price for the year?
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