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.
As the Binance HODLer Airdrops Portal lists Banana Gun, the BANANA token surges 26%, showcasing strong market enthusiasm.
What is Binance HODLer Airdrops?
Binance HODLer Airdrops is a program that rewards BNB holders with token airdrops based on historical snapshots of their BNB balances. By subscribing BNB to Simple Earn, users are automatically eligible for HODLer Airdrops (as well as Launchpool and Megadrop rewards).
Unlike other earning methods that require ongoing actions, HODLer Airdrops reward users retroactively, offering a simple way to earn additional tokens. By subscribing BNB to Simple Earn products, users can automatically qualify for token rewards.
The exchange explained that users who subscribed their Binance Coin (BNB) to Simple Earn products between June 23 and July 5 are eligible to receive the airdropped BANANA tokens. The Binance HODLer Airdrops page is now live, with detailed information on the distribution.
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. In Banana Gun Case distribution will be done at 8 AM UTC Time ( 1 hour before Listing )
All you need to know for Banana Gun
The maximum supply of BANANA tokens is capped at 10 million, with the current total supply sitting at 8.9 million. Of the 8.9 million total supply, only 2.42 million tokens are in circulation. Notably, 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 cautioned users about the potential for significant price volatility, emphasizing that the asset is already in circulation. As such, the airdrop would trigger an increase in its circulation, potentially leading to increased price volatility.
👉You can find the token on CoinMarketCap:
https://coinmarketcap.com/currencies/banana-gun/
BANANA Spikes 26%
The BANANA token 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. Trading volume also saw a huge spike, increasing by 1,000% to nearly $40 millions at the time of writing.
In the long term, BANANA is 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.
