BANANAS31 and ANDY surge triple digits, BTC struggles at $96,000: Here’s why
The price of coins like BANANAS31 and ANDY has spiked over 200% while the overall crypto market remains bearish.
According to CoinMarketCap data, the overall crypto market still remains bearish with just a 1.5% surge in global crypto market cap in the last 24 hours. Bitcoin (BTC) and Ethereum (ETH) are showing struggle at the $96,000 and $2,600 levels respectively.
However, as per CoinGecko data, Banana For Scale (BANANAS31) is the top gainer with over a 300% surge in the last 24 hours. The coin’s price has surged as high as $0.003756 from a 24-hour low of $0.0008696.
The coin has made its debut on the BNB Chain recently, which could explain its surge. Interestingly, Binance coin (BNB) is the top gainer with a 6% surge when it comes to the top 20 coins by market cap, which could explain BANANAS31’s pump.
The second token on the top gainers list is Andy BSC (ANDY). ANDY’s price went up by over 220% in the last 24 hours from a 24-hour low of $0.00000001188 to as high as $0.00000006437.
ANDY also announced that their team has been building on the BNB Chain. This announcement, alongside BNB’s price surge, could be the logical explanation behind the token’s spike.
When it comes to the top ten coins by market cap, Solana (SOL) has pumped close to 4% during this period and reclaimed the $201 level.
Solana-based meme coin Popcat (POPCAT), which has been on muted price performance for the past few weeks, has seen its price reclaim the $0.3 level with a 14% surge.
CMC data also shows that the Crypto Fear and Greed Index is currently at 35, indicating fear in the market. The data also showed that this metric was standing at neutral at 47 in the last week.
Bitcoin, meanwhile, continues to waver due to the ongoing fear of a trade war between the U.S. and its top partners.
While Canadian and Mexican tariffs have been paused, the U.S. has already started levying tariffs on Chinese goods, which may affect trade volume worth over $450 billion. As a result, crypto risk sentiment has taken a hit.
At last check Sunday, Bitcoin was trading at $96,396.93 — up 0.4%.
