0/ The first phase of $BAND’s re-rating culminated in its mainnet launch lifting its circ. market cap to $40M (FD $200M).
The next phase of $BAND’s re-rating has started and will focus primarily on partnership announcements in the coming 6-12 months.
The next phase of $BAND’s re-rating has started and will focus primarily on partnership announcements in the coming 6-12 months.
1/ Since it’s mainnet launch, the Band team has announcement 2 important partnerships. The first is with Math Wallet, a crypto wallet app that supports 40+ assets and has a large userbase in China.
2/ Band’s second partnership is with Waves Protocol. The two plan to collaborate on DeFi, gaming, DAOs etc.
3/ I expect the pace of partnerships will further accelerate in the coming months as Band beefs up its efforts on this front.
4/ This will drive the next phase of re-rating. Even assuming its market cap doubles from here to $100M (FD mkt cap ~$0.5B), its valuation will only be at 4-6% of Chainlink’s current valuation, implying room for significant upside.
5/ With DeFi activity accelerating, the opportunity set for oracle solutions such as Chainlink, Band and others couldn’t be more promising.
