A trading bot altcoin is rallying after abruptly gaining support from the world’s largest crypto exchange platform by volume.
In a new announcement, Binance says that it added support for Banana Gun (BANANA), a trading bot platform that operates across multiple blockchains, including Solana (SOL), Ethereum (ETH) as well as layer-2 protocols Base and Blast (BLAST).
Binance says it attached a seed tag to BANANA, which indicates that the token has higher volatility and risks than other crypto assets listed on its platform.
The crypto exchange also notes that Banana Gun will be the first project ever listed on the Binance Airdrop Portal, a new program that rewards holders of BNB with airdrops based on snapshots of their token holdings.
Binance goes on to issue a warning, saying that token airdrops could cause price volatility in BANANA as they would increase its supply in circulation.
The price of BANANA skyrocketed within 24 hours after Binance’s announcement. The altcoin surged from $54.44 to an all-time high of $78.62 – an over 44% increase.
BANANA has since retraced and is trading for $65.01 at time of writing.
According to the project’s official website, Banana Gun is currently available for use on Telegram but will soon have its own web application.
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Generated Image: Midjourney