What is the current price of Balancer?
The current price of Balancer is $0.1226 with a 3.11% change in the last 24 hours.
Supply and ATH/ATL data provided by CoinGecko
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
Balancer is an automated market maker on Ethereum and several other EVM networks. Its defining idea is that a liquidity pool does not have to hold two assets in equal value. A Balancer pool can hold up to eight tokens at arbitrary weights and continuously rebalances itself through arbitrage as traders swap against it, which makes it behave like a self-managing index fund that charges fees instead of paying them.
BAL is the protocol's governance asset, an ERC-20 token on Ethereum at 0xba100000625a3754423978a60c9317c58a424e3D.
Balancer exists in two generations of contracts, v2 and v3, and the difference matters for anyone reading older material. Nearly every guide written before 2025 describes v2.
Official sources:
Balancer grew out of research by Fernando Martinelli and Nikolai Mushegian at Balancer Labs. The original whitepaper generalized the constant-product formula used by earlier AMMs into a constant-weighted-product formula, which is what allows unequal pool weights.
The protocol launched on Ethereum in 2020, and BAL was introduced that year through liquidity mining. Balancer v2 followed in 2021 with the single Vault architecture most people associate with the protocol, and v3 shipped in late 2024 around a simplified vault and a hooks framework. Governance has since moved from BAL-weighted voting, to a vote-escrow system called veBAL introduced in 2022, and back to direct BAL voting.
Balancer separates accounting from pricing logic. That separation is the core design idea and is worth understanding in one pass:
The Vault holds the tokens A single Vault contract custodies the assets of every pool. Pools themselves hold no balances. This means a multi-hop swap touching several pools moves tokens only once at the end, which is where most of Balancer's gas efficiency comes from.
Pools define the math Each pool is a contract that answers one question: given these balances, what exchange rate applies? Weighted pools use the weighted-product formula, stable pools use a curve tuned for assets expected to trade near parity, and liquidity bootstrapping pools shift weights over time for token launches.
Hooks extend behavior in v3 Balancer v3 added hooks, which let external developers attach custom logic at defined points in a pool's lifecycle without forking the protocol. Dynamic swap fees use the same mechanism, and third parties including Gyroscope and Xave have deployed custom pool designs on top of it.
Boosted pools route idle liquidity Boosted pools hold yield-bearing wrappers, commonly ERC-4626 vault shares, and keep only a buffer of the underlying asset available for swaps, so idle capital earns external yield.
balancer.ethBAL's role has narrowed considerably and the current picture is different from most third-party descriptions.
Today BAL is primarily a governance asset. Holders vote on Balancer Improvement Proposals through Snapshot, with voting power denominated in raw BAL held across the production chains where the token is deployed. This followed the proposal known as BIP-921, described as "1 BAL 1 vote," which replaced the earlier vote-escrow strategies.
The separate proposal BIP-919, the BAL tokenomics revamp, halted BAL emissions entirely and routed all protocol fees to the DAO treasury. Under that arrangement veBAL was discontinued, and veBAL lockers no longer earn fees or direct emissions.
On supply, be careful with what you read. Balancer's own documentation states a maximum total supply of 100 million BAL enforced at the contract level. A direct read of the token contract on Ethereum shows an OpenZeppelin AccessControl setup with a MINTER_ROLE and a mint function, plus burn and burnFrom, and no public cap getter such as cap() or maxSupply(). In other words the ceiling is documented and enforced inside the minting path rather than exposed as a readable value, and the practical constraint right now is that emissions are switched off by governance.
Uniswap optimizes hard for two-asset pools and, from v3 onward, concentrated liquidity within price ranges. Balancer optimizes for flexible portfolio-shaped pools and for assets that carry their own yield. Uniswap v4 hooks and Balancer v3 hooks solve a similar extensibility problem with different vault models underneath.
Curve specializes in low-slippage pegged-asset swaps and built a large vote-bribe economy around its gauge system. Balancer offered a comparable gauge economy through veBAL until governance retired it, which is a meaningful divergence: Balancer stepped away from emissions-driven liquidity while Curve's model remains emission-centric. Compared with SushiSwap and 1inch, Balancer is a liquidity venue with an unusual pool primitive rather than an aggregator or a fork of an existing AMM.
Balancer relies on audited contracts, a bug bounty program, an emergency multisig with pause powers, and governance-controlled deployment of new pool factories. The v3 codebase was written after several years of operating v2 and carries a different architecture and different math libraries.
On November 3, 2025 an attacker drained Composable Stable Pools on Balancer v2 across Ethereum and several other networks. Public analyses place losses between roughly 95 million and 128 million dollars depending on what is counted, including affected forks of the v2 code. The root cause was a rounding direction flaw: the scaling helper used in the pool math always rounded down regardless of swap direction, so an attacker submitting very small amounts against large scaling factors could truncate away the intended rounding increment, deflate the pool invariant, and redeem pool tokens at favorable rates through repeated crafted batch swaps.
Balancer v3 was not affected, because it uses a different architecture and codebase. Some funds were protected or recovered through coordinated white-hat and foundation intervention, and governance subsequently moved to deprecate v2 stable pools and encourage migration to v3. Anyone evaluating Balancer today should treat v2 and v3 as separate systems with separate risk histories.
Balancer generalized the AMM from a two-asset swap venue into programmable liquidity, and the Vault-plus-pool separation has been influential well beyond Balancer itself. It also supplies one of DeFi's clearest case studies in how a subtle rounding decision inside shared math can become a nine-figure failure years after the code ships.
BAL trades on centralized exchanges and on decentralized venues including Balancer's own pools and other AMMs on Ethereum and Layer 2 networks. Availability and pairs vary by jurisdiction.
BAL is commonly available on:
BAL can be held:
BAL is deployed on several networks. Confirm the correct chain and the correct token contract before transferring, since the same ticker exists on multiple chains with different addresses.
Track Balancer live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for Balancer on CoinRithm before using real money.
Use a crypto paper trading account to demo trade Balancer with real-time prices, AI trade feedback, and trading leagues. Test strategies, learn risk management, and build confidence before trading Balancer with real money.
Read the complete paper trading guideThe current price of Balancer is $0.1226 with a 3.11% change in the last 24 hours.
The daily trading volume is $1,324.40 representing a 69.98% change in the past 24 hours.
The market capitalization of Balancer is $7,917,574, ranking #701 globally.
The fully diluted valuation (FDV) of Balancer is $11,788,076, calculated assuming the maximum supply of 96,150,704 BAL is in circulation.
Circulating: 64,580,537. Total: 71,452,737. Max: 96,150,704.
In the last 24 hours, Balancer traded between a low of $0.1168 and a high of $0.1226.
BAL/USDTTether USDT0.1226 USDT
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