Balancer Price Analysis – 23rd March 2021

The Balancer (BAL) protocol is a non-custodial portfolio management tool, liquidity provider, and price sensor, built on the Ethereum network. BAL is a governance token that can be used to vote on Balancer protocol changes and upgrades.

Balancer Labs was co-founded in 2018 by Fernando Martinelli and Mike McDonald through an engineering and research company, Block Science, before being spun out independently. A private seed round in March 2020 raised US$3 million and sold 5 million BAL tokens. In total, 25 million tokens were distributed to the founders, core developers, advisors, and investors with associated vetting periods. A remaining 75 million tokens will be distributed over the next 8-9 years through liquidity mining. BAL currently has a 10.8 million token circulating supply, with a 100 million capped token supply.

Technical analysis

Watch the full Balancer Technical Analysis on YouTube