What is Banana Gun (BANANA)?
- An Introduction to Banana Gun
- Solution provided by Banana
- Banana's Ecosystem
- Banana News
- Banana Price
An Introduction to Banana Gun
In the decentralized environment of digital assets, thousands of unique investment opportunities are created by developers worldwide. Some projects are, of course, more interesting than others, and before the token is launched, the project has an active community eager to acquire the token. However, due to the 24/7 nature of the market and its openness, the token can be launched at any moment, and if the user doesn’t have access to their wallet, the trader may miss the opportunity to acquire the token at a low entry level.
Furthermore, trading in a decentralized environment presents other challenges, such as selling and buying tokens that are already live. Typically, traders must self-execute transactions by signing with their private key; however, they don’t always have access to their wallets. Normally, this problem is addressed by implementing a limit order on a centralized exchange, but these exchanges don’t offer everything and contradict the principles of decentralized asset exchange
Solution provided by Banana
To solve this problem, Banana Gun offers various Telegram bots that enable traders to "snipe" upcoming token launches or safely trade live tokens on decentralized exchanges. Through Telegram's interface, traders can buy/sell cryptocurrency on Ethereum, Solana, Base, and Blast. Additionally, every time a trader uses the bot, Banana Gun earns a small fee; 40% of these fees are then rewarded to $BANANA holders, the platform’s token.
Banana Gun, launched on Ethereum in 2023, aims to become “the” platform for Telegram trading bots on the Ethereum, Solana, Base, and Blast networks. With the help of Banana Gun, new cryptocurrency traders can easily create a bot that allows them to trade upcoming token launches. Furthermore, the Banana Gun Telegram bots enable limit orders, copy trading, fast & secure swaps, and offer anti-rug and honeypot protection. This gives traders a unique experience while trading, which has led Banana Gun to become one of the industry's biggest Telegram trading bot providers.
Banana's Ecosystem
Within Banana’s ecosystem, a majority of its partners are closely related to its trading mechanisms. One of these partners is Empyreal, an infrastructure for Web3 dApps allowing scalable & flexible automation, real-time data streaming, account abstraction, and more.
Another interesting partnership is with DEXTools, a platform that provides real-time data and analytics for decentralized trading platforms. With the new strategic partnership, Banana Gun will be integrated into DEXTools, enabling users to set stop loss or limit orders without leaving DEXTools. Thus, most of its partners are closely related to cryptocurrency trading and its workings.
Banana News
In March, the Banana Gun platform announced that it officially launched on Layer 2 network Base, targeting a larger user base while also providing its existing users with a broader range of networks. The expansion to Base was positively received by the community, and this was also reflected in the trading volume of the Banana Gun bot, as the volume on Base represented almost 50% of all volume in March.
Banana Price
After a period of consolidation from November to February, $BANANA left the range and started its upward trend, gaining over 200% in price within two months. Since April this year, the price formed a local top around the $50 level and has started to show a retracement back into key levels, where $BANANA formed a double bottom around the $27 key support level, as shown in the chart. With the recent uptick in the overall crypto market with $ETH up front in anticipation of the spot ETF approval, we can also see the strong bounce from the support level that $BANANA has made. It is currently testing the $40 previous resistance levels, and upon breaking these areas, we can potentially see a continuation of the uptrend for $BANANA on to new highs.
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