On this article, we look at the Banana Gun (BANANA) crypto and its value efficiency following its itemizing on the Binance trade.
Just lately, the coin has seen a powerful enhance in its valuation, making it one of many strongest altcoins of 2024.
Let's dive deeper into this crypto mission and take a more in-depth have a look at how BANANA crypto is shifting on the charts.
What’s the Banana Gun Crypto Venture?
Earlier than we discuss concerning the Binance itemizing and its buying and selling efficiency, let's briefly analyze the Banana Gun (BANANA) crypto mission.
It’s a Telegram buying and selling bot that helps customers discover low-cap cash and automate buying and selling processes on DEX.
With BananaGun, it’s potential to attach your pockets to the Telegram interface and handle your buying and selling operations on a variety of roughly well-known or newly listed altcoins. The purpose of the bot is to simplify the buying and selling expertise within the crypto world with a instrument that’s straightforward to make use of and environment friendly.
In the mean time, the bot is useful on the Ethereum, Solana, Base and Blast networkswhich provides customers ample alternative to take a position.
It was launched in early 2023 following the success of Unibot and managed to carve out an excellent market share on this explicit area of interest.
In June 2024, BanaGun recorded an all-time excessive by way of month-to-month quantity on its platformexceeding $800 million.
Total, this buying and selling robotic has collected a cumulative quantity of $5 billion in lower than 400 days.
In the identical time-frame, it attracted over 200,000 customers to its platform and achieved a complete income of round $50 million.
Regardless of the staggering numbers it has been posting in current months, it should be famous that issues haven't all the time been clean crusing for BananaGun previously.
In September 2023, shortly after TGE BANANA and itemizing on the primary DEX, the crypto misplaced about 99% of its worth after a platform hack.
Extra particularly, it was a bug within the BANANA sensible contract that allowed merchants to promote their cash with out really proudly owning them.
Consequently, the token was subsequently relaunched with appreciable problem to understand within the broader crypto market.
Binance and different exchanges are including Banana to their crypto buying and selling markets
The second of final splendor for buying and selling robotic BananaGun and its crypto BANANA was achieved with the announcement of a list on Binance.
Normally, including your individual token to that trade's exchanges represents a second of sanctification for the underlying mission.
In truth, Binance solely provides its shoppers publicity to commerce cryptocurrencies with a stable ecosystem and an already established person base.
The massive announcement for BananaGun arrived on July 18, 2024and it allowed the costs of the token to push to new all-time highs.
Only a day later, the bot crew spoke at X and tracked among the key milestones of their crypto market journey.
These are among the phrases utilized by the mission representatives to thank all the banana ecosystem for attaining a significant milestone:
“Now that our token is accessible to anybody, be it a standard particular person or a degenerate with Milady PFP, now that each one eyes are on us, we really feel able to step up. It's time to shut this chapter and open one other.”
Binance is just not the one crypto trade that just lately opened entry to buying and selling the BANANA token. Bitmart listed the coin only a day earlier, as did Gate.io and Kucoin.
Beforehand, BANANA might be traded on centralized exchanges corresponding to HTX, Bitget and MECX, and on decentralized exchanges corresponding to Uniswap.
BANANA crypto value evaluation: buying and selling on Binance will increase the value
Now let's transfer on to chart buying and selling and see particularly how the itemizing of BANANA on the Binance crypto trade affected the value stage.
Wanting on the graph, we will instantly perceive that the true catalyst occasion for the rise in quotations was simply the itemizing announcement.
The precise addition occasion on the platform's cryptocurrency exchanges was as a substitute the so-calledpromote information“.
In truth, on June 18th, the second Binance launched the information, the BANANA token rose +25% in only one hour.
On this context, it recorded an all-time excessive with a soar to $87 and closed the one-hour session at $69.
Within the hours that adopted, the ascent continued in brief increments till it met 13% itemizing on July twentieth at 11:00 UTC+2 concurrently itemizing on Binance.
Now BANANA is buying and selling round $63.4.
Though the information solely partially pushed costs into uncharted territory, it’s price noting how the addition to the Binance platform will definitely assist the mission to change into extra fashionable. Consequently, the BANANA token could have extra alternatives to understand sooner or later.
If we as a substitute comply with the historical past of the BANANA, we see how in 2024 this forex was top-of-the-line altcoins for buying and selling efficiency.
Worth development has been natural all through the present 12 months, with a slight retracement between April and Could amid all the crypto market dump.
Many have devoted BANANA as some of the resilient tokens in all the altcoin sector, as a result of its relative power through the sector's grey moments.
Regardless of not seeing eye-popping numbers like a number of small-cap memecoins, BANANA remains to be up 6X in comparison with January costs.
The present market cap is $200 million with loads of room for development from right here on out.
Main Rivals That Might Rejoice Binance's Upcoming Entry
One other BANANA buying and selling bot competitor that might quickly change into a part of the Binance household is crypto UNIBOT.
The mission is similar to Banana and provides limitless entry to buying and selling within the Ethereum ecosystem with handy options.
Not like the Bananagun platform, it grew at a a lot slower tempo regardless of launching earlier.
Cumulative volumes on Unibot don’t exceed one billion {dollars}, whereas Banana is above 5 billion.
On the income facet, it reveals roughly the identical quantity because the competitor, however with a a lot narrower person base.
Even within the charts, UNIBOT doesn’t seem on the similar stage as BANANA: it really misplaced a lot of its worth in 2024, falling from $110 to the present $9.9.
Regardless of the hypothesis not in its favor, it’s nonetheless potential that Binance may record this crypto within the coming months.
