- After suddenly receiving backing from the biggest cryptocurrency exchange platform in the world based on volume, an altcoin used for trading is on the rise.
Banana Gun (BANANA), a trading bot platform that works on several blockchains, including Solana (SOL), Ethereum (ETH), and layer-2 protocols Base and Blast (BLAST), has gained support, according to a recent release from Binance.
According to Binance, BANANA has a seed tag associated to it, indicating that it is more volatile and risky than other cryptocurrency assets listed on the platform.
Banana Gun will be the first project to be published on the Binance Airdrop Portal, a new initiative that provides BNB holders with airdrops based on snapshots of their token holdings, according to the cryptocurrency exchange.
Binance continues with a caution, stating that while token airdrops increase the amount of BANANA in circulation, they may lead to price volatility.
Within a day of Binance’s announcement, the price of BANANA surged. The altcoin increased by more than 44%, from $54.44 to an all-time high of $78.62.
Since then, BANANA has pulled back, and as of this writing, it is trading at $65.01.
Although Banana Gun may now be used on Telegram, it will soon have its own online application, according to the project’s official website.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
