On Tuesday, the BAL token of the DeFi protocol Balancer was launched. Initially, 35,435,000 BAL tokens were issued. After the issue, tokens began to be traded on the Uniswap exchange and the Balancer trading platform. The starting price of the token was $7, but by the end of the day it rose to $22.
According to Uniswap, the exchange clients completed about 1,300 transactions per day for a total of $325,000. At the time of writing, the cost of the BAL token was $17.42 and the trading volume for 24 hours was $7 mln.
The growing excitement around decentralized finance projects is forcing cryptocurrencies to show significantly explosive price increases. However, not only the BAL token rate showed a record leap. A few days ago, the COMP rate skyrocketed to the mark of $230 and took 24th place in market capitalization, ahead of MKR.
Image courtesy of DEFi report