DeFi Token Balancer Price Surges Over 300% on First Trading Day
Soon after the deployment, the price has jumped from $6.65 to $22.28. As of now, BAL is trading at $20.
Balancer allows users to create liquidity pools where any number of predetermined Ethereum (ERC20) tokens can be deposited in fixed ratios to one another. When the prices change for tokens in a pool, allocations are rebalanced to the set ratios by allowing traders access to overweight tokens as liquidity.