Why Did Band Protocol (BAND) Fail?
Tape Protocol is a data oracle platform that provides discrete access access for blockchain-based applications and integrates this data with smart contracts. Data oracles, blockchain-based systems, real-world systems, sample price data, weather information or other external data access are available. Such oracles are critical for decentralized finance (DeFi) and other blockchain projects.
BAND is the native cryptocurrency of the Band Protocol platform and is included in the platform. With the growth of DeFi, the role of the data oracle has become more important because this engine needs to provide reliable and accurate access.
The BAND token may have seen a significant price increase recently, but cryptocurrency markets have been highly volatile, short-term price drops are commonplace. As you said, at the end of the day, we can consider it as a development movement following the rise. Investors should be careful when investing in cryptocurrencies and they are constantly tracking rates in the market.