Binance Launches $BANANA Airdrop, Token Soars on Listing

Binance the world’s leading cryptocurrency exchange by registered users and daily trading volume, has announced an exciting new development: the launch of Banana Gun ($BANANA) as the inaugural project in its binance information

HODler Airdrops. This move marks a significant milestone for $BANANA, the native token of the Banana Gun bot ecosystem, which offers advanced trading tools for on-chain tokens.

Binance has revealed that users who staked their BNB in Simple Earn products from June 23 to July 5, 2024, will qualify for the Banana airdrop. The exchange plans to list Banana this Saturday, featuring trading pairs with Bitcoin, USDT, TRY, FDUSD, and BNB.

Rising Demand for $BANANA

Ahead of the upcoming listing on Binance tomorrow, on-chain data shows a smart trader has accumulated around $1.5 million worth of Banana in the past 24 hours. The smart trader has been accumulating BANANA tokens in the past as the token hovered between $11 and $20.

With a fully diluted market cap of about $616 million and a daily trading volume of roughly $37 million, the small-cap meme coin has around 10,000 on-chain holders. Notably, the Banana Gun project has burned 10% of its total supply and locked 45% for token vesting, according to on-chain data.

BANANA targets

Driven by heightened demand from whale investors and speculative retail traders ahead of Binance’s listing, the price of Banana has surged more than 61% in the past week, reaching around $69 on Friday.

The altcoin has entered price discovery mode, having recently peaked at an all-time high of approximately $75. From a technical perspective, Banana is now targeting the next liquidity level of $91, aligning with the daily 3.618 Fibonacci Extension.