Boosted by robust network growth and whale activity, native token of decentralized exchange Bancor jumped 40% in that last 24 hours.
Boosted by robust network growth and whale activity, the native token of decentralized exchange Bancor jumps 40% in the last 24 hours.skyrocketed in the last 24 hours, springing back to life an asset that was in hibernation for the last two months., BNT jumped 40% as the weekend came to a close, breaking past $0.67 for the first time in two months. However, the asset retreated to $0.59 at the time of writing, as profit-hungry traders locked in gains.
The count of daily active wallets soared to 797 over the last 24 hours, the highest since December 2021. Additionally, the network grew bigger with as many as 157 new addresses getting created, the fastest single-day expansion in the last two months.Meanwhile, whale investors, who were dormant in recent months, also got into the act. BNT transactions worth more than $100,000 spiked from 0 to 10 on 8 October.
Typically, accumulation activity by exchanges could imply a multitude of things, such as liquidity management, or new trading pairs. According toBNT’s explosive surge in a quiet weekend made it the standout performer in the market. Crypto-focused social circles were abuzz with discussion around the coin, as evidenced by the sharp increase in the social volume.
Most of the commentary around the asset was positive, as the weighted sentiment indicator went higher in the positive territory. Such a propulsion was last seen two months ago during a similar price surge.Aniket is a full-time journalist at AMB Crypto. With experience in news publishing and content management, he is now increasingly tangled up in the web of cryptocurrencies and blockchains. His focus lies on the intersection between cryptos and traditional finance.
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