The historical high and low prices of BENQI (QI) coins

BENQI's historical price range spans from $0.035 to $0.84, reflecting market fluctuations, platform developments, and regulatory factors within the DeFi industry.

Dec 21, 2024 at 03:04 am

The Historical High and Low Prices of BENQI (QI) Coins

Key Points:

• BENQI (QI) is a decentralized lending and borrowing platform built on the Avalanche blockchain.
• QI is the native token of BENQI, used for governance, staking, and paying transaction fees.
• BENQI has experienced significant volatility since its launch in 2021, with historical highs and lows reflecting market trends and platform developments.

Historical High and Low Prices of BENQI (QI)

BENQI was launched in September 2021, with an initial coin offering (ICO) price of $0.05. The token's price surged during the subsequent bull market, reaching an all-time high (ATH) of $0.84 on November 30, 2021.

After the broader market downturn in 2022, QI's value declined significantly, reaching a low of $0.035 on June 18, 2022. However, the token has since recovered, hovering around $0.07 in recent months.

Factors Influencing BENQI's Price Performance

Several factors have influenced the historical price performance of BENQI:

• Market Trends: QI's price has generally followed broader market trends, mirroring the ups and downs of the cryptocurrency market as a whole.
• BENQI Platform Developments: Key developments on the BENQI platform, such as new lending products or partnerships, have also impacted QI's value.
• Avalanche Ecosystem Growth: The growth of the Avalanche ecosystem, on which BENQI is built, has also supported the demand for QI.
• Competition: Competition from other decentralized lending platforms, such as AAVE and Compound, has also impacted QI's market share and valuation.
• Regulatory Factors: Uncertainties or negative regulatory actions related to decentralized finance (DeFi) and cryptocurrencies in general can affect the sentiment and price of QI.

Steps Involved in Analyzing BENQI's Price Performance

To analyze the historical price performance of BENQI, consider the following steps:

• Gather Historical Data: Collect historical price data from reputable sources, such as CoinGecko or TradingView.
• Identify Trends: Look for patterns and trends in the price data, including periods of growth, consolidation, and decline.
• Evaluate News and Events: Read industry news and announcements related to BENQI and the broader cryptocurrency market to identify potential factors influencing the price.
• Consider Technical Indicators: Use technical indicators, such as moving averages, Bollinger Bands, and RSI, to identify potential trading opportunities and assess market sentiment.

FAQs

Q: What is the current price of BENQI (QI)?
A: As of February 28, 2023, the price of BENQI (QI) is approximately $0.07.

Q: What was the all-time high price of BENQI (QI)?
A: The all-time high price of BENQI (QI) was $0.84, reached on November 30, 2021.

Q: What was the lowest price of BENQI (QI)?
A: The lowest price of BENQI (QI) was $0.035, reached on June 18, 2022.

Q: What factors influence the price of BENQI (QI)?
A: Factors influencing the price of BENQI (QI) include market trends, BENQI platform developments, Avalanche ecosystem growth, competition, and regulatory factors.

Q: Is it a good time to buy or sell BENQI (QI)?
A: Investment decisions should be based on thorough research and careful consideration of factors such as market analysis, risk tolerance, and investment goals. Past performance is not necessarily indicative of future results.