On this article we look at the crypto Banana Gun (BANANA) and its value efficiency after the itemizing on the buying and selling exchanges of Binance.
Not too long ago this coin has skilled a robust surge in its valuation, making it probably the most strong altcoins of 2024.
Let’s delve deeper into this cryptographic undertaking and take a more in-depth have a look at how the BANANA crypto is shifting on the charts.
What’s the crypto undertaking Banana Gun?
Earlier than speaking in regards to the itemizing on Binance and its buying and selling efficiency, let’s briefly analyze the crypto undertaking Banana Gun (BANANA).
It is 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 doable to attach your pockets to the Telegram interface and handle your buying and selling operations on a variety of kind of recognized or newly listed altcoins. The purpose of the bot is to simplify the buying and selling expertise within the crypto world by way of a instrument that’s simple to make use of and efficient.
For the time being the bot is operational on Ethereum, Solana, Base, and Blast networks, providing ample hypothesis alternatives to customers.
Launched in the beginning of 2023 within the wake of Unibot’s success, it managed to carve out a very good market share on this explicit area of interest.
Within the month of June 2024 BanaGun recorded a historic excessive relating to the month-to-month quantity of its platform, surpassing 800 million {dollars}.
Total, this buying and selling bot has accrued a cumulative quantity of 5 billion {dollars} in slightly below 400 days.
In the identical time-frame, it attracted over 200,000 customers to its platform, attaining a complete income of roughly 50 million {dollars}.
Regardless of the staggering numbers it has been posting in current months, we should level out that previously it has not at all times been easy crusing for BananaGun.
In September 2023, shortly after the TGE of BANANA and the itemizing on the primary DEX, the crypto misplaced about 99% of its worth following a hack on the platform.
Extra exactly, it was a bug of the sensible contract of BANANA that allowed merchants to promote their cash even with out truly proudly owning them.
The result’s that the token was relaunched subsequently with not few difficulties to understand itself within the broad cryptographic market.
Binance and different exchanges add Banana to their crypto buying and selling markets
The second of most splendor for the buying and selling bot BananaGun and its crypto BANANA was reached with the announcement of the itemizing on Binance.
Normally, the addition of 1’s personal token on the exchanges of this alternate represents a second of consecration for the underlying undertaking.
Binance the truth is gives publicity for buying and selling to its purchasers solely of cryptocurrencies with a strong ecosystem behind them and with an already established person base.
The massive announcement for BananaGun arrived on July 18, 2024, and it allowed the token’s costs to push in direction of new all-time highs.
Simply in the future later, the bot group spoke on X, retracing some key milestones of their journey within the crypto market.
These are a few of the phrases utilized by the representatives of the undertaking to thank your complete Banana ecosystem for the nice milestone achieved:
“Now that our token is accessible to anybody, whether or not it’s a regular individual or a degenerate individual with a Milady PFP, now that every one eyes are on us, we really feel able to speed up. It’s time to shut this chapter and open the subsequent one.”
Binance shouldn’t be the one crypto alternate to have 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 could possibly be traded on centralized exchanges like HTX, Bitget, and MECX, and on decentralized exchanges like Uniswap.
Value evaluation of the crypto BANANA: 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 crypto alternate Binance has affected the value stage.
Looking on the chart, we are able to instantly perceive how the true catalyst occasion for the rise in quotations was merely the announcement of the itemizing.
The precise addition occasion within the cryptocurrency exchanges of the platform was as a substitute a so-called “promote the information”.
The truth is, on June 18, for the time being when Binance made the information public, the BANANA token grew by +25% in only one hour.
In that context, it marked a historic excessive with a spike to 87 {dollars}, closing the hourly session at 69 {dollars}.
Within the following hours, the rise continued in brief steps, earlier than encountering a 13% dump on July 20 at 11:00 UTC+2, concurrently with the itemizing on Binance.
Now BANANA is buying and selling round 63.4 {dollars}.
Though the information has solely partially pushed costs into unexplored areas, it’s price noting how the addition on the Binance platform will definitely assist deliver extra fame to the undertaking. Consequently, the BANANA token could have extra alternatives to understand sooner or later.
If we observe, as a substitute, the historical past of BANANA, we see how in 2024 the foreign money was the most effective altcoins for buying and selling efficiency.
The expansion of costs has been natural all through the present 12 months, with a slight retracement between April and Might within the midst of the dump of your complete crypto market.
Many have consecrated BANANA as probably the most resilient tokens in your complete altcoin sector, given its relative energy through the sector’s grey moments.
Regardless of not having recorded staggering numbers like a number of memecoin with low capitalization, BANANA continues to be at a 6X in comparison with January costs.
The present market capitalization quantities to 200 million {dollars}, with a large margin for development from right here onwards.
The primary opponents that would have fun an upcoming itemizing on Binance
The subsequent buying and selling bot competitor of BANANA that would quickly develop into a part of the Binance household is the crypto UNIBOT.
The undertaking is similar to Banana and gives limitless entry to buying and selling within the Ethereum ecosystem with handy options.
Not like the Bananagun platform, it has grown at a a lot slower tempo regardless of being launched earlier.
The cumulative volumes on Unibot don’t exceed the brink of 1 billion {dollars}, whereas Banana is above 5 billion.
On the income entrance, it marks kind of the identical determine because the competitor, however with a a lot narrower person base.
Even on the charts, UNIBOT doesn’t seem on the identical ranges as BANANA: in 2024 it has certainly misplaced a lot of its worth, dropping from 110 {dollars} to the present 9.9 {dollars}.
Regardless of the speculations not being in its favor, it’s nonetheless doable that Binance may listing this crypto within the coming months.
