Banana Gun (BANANA) Surges 26% as Binance Lists the Token on Its HODLer Airdrops Portal

Leading cryptocurrency exchange Binance has announced the first project on the Binance HODLer Airdrops. The exchange is listing Banana Gun (BANANA), the ecosystem token of the Telegram-based trading assistant Banana Gun bot, on its portal.

Banana Gun (BANANA) Surges 26% as Binance Includes HODLer Airdrops Portal Banana Gun (BANANA) token has surged by over 26% following an announcement by Binance revealing that BANANA will be the first project listed on the Binance HODLer Airdrops Portal.

The surge in BANANA's price is likely driven by the excitement and anticipation surrounding the Binance listing and airdrop. The token has experienced a rapid increase in trading volume, which currently stands at $36.4 million, up by an impressive 1,000%.

Binance has stated that users who subscribed their Binance Coin (BNB) to Simple Earn products between June 23 and July 5 will be eligible to receive the airdropped BANANA tokens. The distribution will be handled by Binance, and the maximum supply of BANANA tokens is capped at 10 million.

Out of the total supply, only 2.42 million tokens are currently in circulation. However, 800,000 BANANA tokens have been allocated for the Binance HODLer Airdrops rewards.

Following the airdrop, Binance Spot will officially list BANANA on July 20, at 09:00 UTC with BTC, USDT, BNB, FDUSD, and TRY pairs. Those who hold BANANA through the HODLer Airdrops will find their tokens in their spot wallets an hour before trading begins.

Binance has highlighted the potential for significant price volatility due to the asset already being in circulation. The airdrop will increase the circulation of the asset, which could lead to increased price volatility.

As such, Binance advises traders to adjust their strategies accordingly and trade at their own discretion. The exchange also notes that the price may fluctuate greatly after the asset is listed on Binance Spot.

BANANA token, powered by the Telegram-based trading assistant Banana Gun bot, has positively reacted to the announcement. The token’s price surged by over 26%, rising from $57.6 to $72.6 within the last 12 hours.

The token's price surged initially after the announcement. However, BANANA's price later dropped by about 7% to reach $72.6 at the last glance. On the other hand, the trading volume saw a huge spike, increasing by 1,000% to reach $36.4 million at the last check.

In the long term, BANANA is also up by more than 500% in the past year. It currently sits just 11% below its all-time high of $78.33, achieved last month. The token has also been named by crypto expert Ran Neuner for its strong potential for massive returns.

Launched on June 19, Binance HODLer Airdrop Portal is a platform within Binance that distributes on-chain airdrops to its users. These airdrop tokens are issued by projects with enough circulating supply hours before their listing on Binance.

The program mainly rewards BNB holders based on historical snapshots of their BNB balances. Notably, users subscribing to the Simple Earn Program with BNB automatically qualify for HODLer Airdrops, alongside potential rewards from Binance Launchpool and Megadrop.

The exchange transfers these rewarded airdrop tokens to users’ spot wallets before the token lists on Binance Spot.

As Binance celebrates its seventh anniversary, it has upped its rewards for this bull run. Recently, the exchange announced a two-week competition featuring big rewards for dog-themed memecoins.

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