Crypto space is evolving with extreme velocity — even investors who once have been hesitant about conducting deals in cryptocurrency are now funding startups with it. With significant players like Circle and Robinhood going public and Facebook planning to launch their coin, it’s only natural that more people want to buy this asset as well. So: they go on exchanges.
Now, generally, recommendations for using exchanges are very simple. Read about the coins you want to buy — not only articles but posts on social media as well. Invest as much as you want — but that should be as much as you’re willing to lose. Find an exchange that will preserve your anonymity if that’s a priority for you.
Many people invest in coins for trading, but some are interested in supporting projects that advance blockchain and other DEXes further or create some other innovations. In this case, you’d probably want to know what you can do with your voting rights when you’ll receive your tokens (and if there are any.) Find them on the platform’s websites — and also at forums.
Read forecasts, too, — but remember that although they are useful, they are not absolute. This article will be following Balancer (BAL) and Electron Eum (ETN) forecasts. Let’s get to it!
More About BAL Cryptocurrency
BAL is the native cryptocurrency (token) of Balancer, an automated market maker (AMM) DeFi solution built on the Ethereum blockchain.
How Balancer Works
The balancer was launched in March 2020 and although it was not the first DeFi protocol to utilize AMMs, it introduced a new approach to liquidity. Balancer is quite similar to its predecessors’ Curve and Uniswap, although it allows adding more than one token to liquidity pools and doesn’t require Ethereum (ETH) unlike the majority of AMMs.
In a nutshell, Balancer works as a self-rebalancing APP that allows users to participate in providing liquidity for cryptocurrencies.
When using Balancer, you can add up to eight digital assets per market. You are not required to deposit 50% like in other AMMs — you are allowed to decide the amount of the cryptocurrency that you wish to deposit into a pool. You can also earn profits by staking the BAL token to customized liquidity pools on the platform.
There are three types of liquidity pools that you can use in Balancer and they are private pools, shared pools, and smart pools. You can choose to create a private pool where you become the owner and the sole contributor or become a liquidity provider in a shared pool that is created by someone else and opened to different people to contribute as liquidity providers; they will be rewarded with Balancer Pool Tokens (BPTs). You can also choose to contribute to a smart pool, which is similar to a private pool but is managed via a smart contract and allows different people to contribute and get rewarded using the BPTs.
BAL price started in 2021 with a bang rising by 430% between January and May when it set an all-time high of $74.77 before taking a dive to trade at about $15.
It has tried correcting the plunge and it is now trading at about $24 with a market cap of $170,634,950 and a 24-hour trading volume of $39,412,218.
More About ETN Cryptocurrency
ETN is the native cryptocurrency (token) of Electron Eum, a platform that offers instant crypto payments for iOS and Android.
What Is Electroneum?
Electroneum was launched in September 2017, and it was the first UK-based cryptocurrency. It started by conducting an initial coin offering (ICO) where it raised $40 million.
It aims to provide the safest and quickest crypto transaction with minimal fees through mobile phones to the unbanked population.
How Electroneum Works
Elecrtoneum gives people with access to smartphones a cheap and easy way of sending and receiving money from around the world using the Electron Eum mobile wallet, launched in December 2017.
In March 2018, Electroneum also launched the first Android mobile mining application allowing people to mine ETN coins using their mobile devices.
The price of ETN skyrocketed after its launch in 2017 and went ahead to set an all-time high at the beginning of 2018 before plunging to trade below $0.1, where it has remained to date.
It is currently trading at about $0.021 with a market cap of $381,818,152 and a 24-hour trading volume of $1,928,830.
Price Prediction for BAL And ETN
BAL price is expected to rise as the demand for AMMs continues to rise in the DeFi space.
In 2021, ETN price saw a 400% rise from about $0.004 to its current price above $0.02. That increase will continue in 2022.
2022 Forecast For BAL
The mid-term target for the next year is $33 — analysts predict BAL will reach $74.77 in 2022.
2022 Forecast For ETN
ETN price has an immediate target level at $0.038— it’s expected to grow up to $0.091 in 2022.
Is BAL to ETN Pair Exchange Worth It in 2022?
Both BAL and ETN tokens are expected to continue growing in 2022.