Badger DAO might just be the solution bringing together the Bitcoin and DeFi spaces. Does it have what it takes? You can get some idea about that by reading Badger crypto price prediction below.
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Badger DAO Fundamental Analysis
Badger DAO is an open-source decentralized automated organization designed for building programs and infrastructure for simplifying the use of Bitcoin as collateral across different platforms. Its goal is to bring Bitcoin to DeFi and to make it easy to bridge BTC to any other platform.
It is a collective of developers called Badger Builders who run the DAO and are able to collaborate and implement bitcoin as collateral on other platforms. For the implementation, the developers can receive rewards as a percentage of the fees or BADGER tokens from the developers’ mining pool.
A Builder can be a single developer, a group of developers, or a company. There are no obligations or conditions on which someone can participate in building. Though, before any product can be launched, it should be pitched, voted for, and approved by the holders.
Badger has 2 main products: DIGG and Sett. DIGG is a non-custodial synthetic Bitcoin and Ethereum blockchain pegged to the Bitcoin price that aims to remove centralized third parties from the operations. It has a flexible supply and can be re-based. Sett is a DeFi aggregator with flash-loan mitigation focused on tokenized BTC through numerous strategies. When the users make deposits they get a chance to earn a yield. Farmers who deposit tokenized BTC into the Sett vault receive both DIGG and BADGER.
The mainnet was launched in December 2020. The founder of the project is Chris Spadafora, who’s been a crypto enthusiast and investor for a long time, who is also a partner in Angelrock.
BADGER is an ERC-20 token powering the Badger DAO. It is owned by 29 000 wallets who have a right to vote for the governance. The coin has a maximum supply of 21 million and a circulating supply of 10.3 million Badger. It is traded on Ethereum, Binance Smart Chain, and Polygon and supported by Fantom. Badger can also be used for staking rewards and as collateral on different platforms across DeFi.
Badger DAO Live Price Chart
BADGER coin started 2021 trading for $7.19 and stayed around the same level till mid-January when the value started to grow, reaching $12.96 on January 21 and straight away after that going for the correction. Just after a few days, the token started its long way up, continuing the bullish run until it reached the all-time high of $83 on February 9.
After that BADGER market became bearish and the coin was losing in value till the end of May when the fall stopped and the price stabilized around the level of $10 for the token. At the beginning of August, the price started to grow again, but couldn’t overcome its maximum in February, in fact not reaching higher than $34.
From July the chart’s trend started to move upwards but the token didn’t gain a lot of value. The bullish trend is mainly explained by the overall boom of crypto at that period. At the same time, the trading volume of BADGER also increased.
During the last months, badger went down 7.8% and lost $2.33 of its value. At the moment of publishing, Badger traded for $28.8 and has experienced a 14.8% price decrease in the last 24 h, and the market cap went down too. Moreover, the token’s price has been going down for the last 7 days.
Some analysts predict BADGER to stay at the level of $28 in a one-year period but some expect its price to reach a minimum of $48 in 12 months.