Banca is often recognized by its catchphrase ‘Wall Street on Blockchain’. It is essentially a decentralized blockchain based community. Banca’s satisfactory performance in the present bearish markets has made crypto enthusiasts take notice of this promising blockchain project. The crypto markets have taken a recent blow which came from Bithumb (one of the largest crypto exchanges in South Korea) that it has banned trading in 11 different countries. We’ve been observing a gradual fall in Bitcoin’s value as it dips along with altcoins without any signs of recovering soon. At this point, performances of Banca and other such cryptos make traders broader their horizon and reconsider their portfolio.
All about Banca
It’s a community platform which is powered by Artificial Intelligence that aims to connect people having varying skills and requirements via their blockchain based community platform. The utility token which is used on Banca platform is called Banca token. Holding these tokens allow any person to buy Banca products or services. Banca platform offers an array of useful services such as legal products and services, taxation services, rating services, strategies and more. The members of Banca can be of two types based on their role, one is the service provider member and the other is end-user who’s the one receiving any service by paying Banca tokens to service providers. Banca project is a combination of three technologies.
Blockchain, AI and Expert systems and Big data analytics such as Kafka streaming and Hadoop to guarantee transaction throughput and high performance. The team behind Banca consists of Wall Street and Silicon Valley veterans who are committed to turning Banca into the Wall Street on the blockchain.
What is CoinAI?
Banca team is immersed in developing new community seed applications that make trading easier and hence invite new investors to their community. CoinAI is a perfect example; it is made by Banca and a community seed App. The development work on CoinAI has been completed and it is expected to go live at the end of this month. This seed application provides quantitative analysis forecasts for digital currencies which will be available via secondary market division. It includes many useful features such as conducting an in-depth analysis of cryptos, making a comparison of risks, getting the forecast for future trends based on AI and big data.
Advancements Made in the Past Weeks
In their most recent weekly update which was published on 25th May, Banca team announced having updated their GitHub page and adding Arbitrage Trading Strategy Algorithms developed by Banca team. For those who fail to comprehend the idea of arbitrage, it is to buy something for one price and then instantly selling it for a different price. But Banca aims to create a sort of currency which ultimately leads to the user’s profit in the end by introducing discrepancy in the said currency. this strategy is available for usage on Banca’s official GitHub page. In the final week of May, Banca has already declared two new milestones for their community. One is the launch of CoinAI and the other is a new and re-designed website which is going to be more comprehensible to the general public.
Banca Trading
Banca is well-placed at some of the major and most active cryptocurrency exchanges which add to its increasing trading value. Currently, according to the data on CoinMarketCap Banca is listed and trading on HitBTC paired with Bitcoin, Ethereum, and USD, Aurora IDEX, DDEX.io, and ForkDelta. Among all of these exchanges, the trading volume of Banca is largest on HitBTC (among the top 5). The most preferred Banca pair is BANCA/BTC. Banca is slowly progressing towards new exchange listing that’ll favor the bullish trends and take Banca to new heights.
Current Market position
At the time of writing, Banca is ranked at 203rd largest cryptocurrency. The total market capitalization of Banca is close to $45 million USD while its individual price is $0.0038 USD at the moment and its rising at the rate of 8.51%. Almost $2.8 million USD worth of Banca has exchanged hands within the past 24 hours and most of it took place on HitBTC.
Final thoughts
Cryptocurrency markets are showing red alerts throughout but in time like these there are some blockchain projects serving as a ray of hope. Showing the market, a path towards satisfactory yet slow recovery. It is possible that Banca and such projects could guide the market in the coming days but until then one needs to wait and watch the upcoming events without taking their eyes off of a promising investment such as Banca.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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