Price: $0.38513 2.1735%
Market Cap: 56.57B 1.7329%
Volume (24h): 8.04B 0.4%
Dominance: 1.7329%
Price: $0.38513 2.1735%
Market Cap: 56.57B 1.7329%
Volume (24h): 8.04B 0.4%
Dominance: 1.7329% 1.7329%
  • Price: $0.38513 2.1735%
  • Market Cap: 56.57B 1.7329%
  • Volume (24h): 8.04B 0.4%
  • Dominance: 1.7329% 1.7329%
  • Price: $0.38513 2.1735%
Home > Information news > Bancor (BNT) Market Cap Triples in 4 Days – Analyst Reveals the Catalyst

Bancor (BNT) Market Cap Triples in 4 Days – Analyst Reveals the Catalyst

Release: 2023/11/13 18:50 Reading: 803

Original author:CaptainAltcoin

Original source:https://coinmarketcap.com/community/articles/6551fbd867ee5324447550ae

The decentralized liquidity protocol Bancor (BNT) has staged a remarkable comeback in recent days, with its market capitalization more than tripling over the past four days. This massive surge appears to be driven by significant accumulations from whales and other large holders.

Bancor pulled off one of the most stunning rallies of 2023 so far, with its BNT token jumping by 139%. This resulted in Bancor’s market cap exploding to $115 million, a 3 fold jump in just four days.

Source: Santiment – Start using it today

According to on-chain analytics provider Santiment, the build-up to this rally was evident for weeks beforehand. Their data showed the number of BNT wallets holding balances between 10,000 to 100,000 BNT had steadily accumulated since late October. These “sharks and whales” were hinting at the spike to come.

Overall, BNT holders have been accumulating heavily as well, with Santiment noting that BNT holdings across the network were the highest they had been in 8 months. This return of strong conviction from both small and large holders paved the way for the upside breakout.

Bancor v3, a significant upgrade focused on enhanced liquidity and pricing, also recently went live. The success of the well-executed launch likely improved investor sentiment around the project.

Read also:

The on-chain insights make it clear Bancor’s powerful rally was not a random pump. Targeted accumulation by “smart money” holders provided the fuel for BNT’s meteoric rise once upside momentum kicked in. Savvy traders will closely watch for similar patterns in other altcoins that could signal the next breakout.

We recommend eToro

74% of retail CFD accounts lose money.
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.

The post Bancor (BNT) Market Cap Triples in 4 Days – Analyst Reveals the Catalyst appeared first on CaptainAltcoin.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.