Bancor’s native token, BNT, jumped from $1.02 to $1.919 within 48 hours, increasing by 86%. According to a Cointelegraph report, the main cause of the surge is the Coinbase listing of BNT on its exchange. Apart from the listing, the increase was also pushed by the growing Bancor’s DEX volume.
On the 15th of December, Coinbase announced that Bancor’s BNT had been listed on the Coinbase exchange platform. Apart from BNT, the announcement also revealed that AAVE and SNX are now listed on Coinbase. The announcement said:
“Starting today, Coinbase supports Aave (AAVE), Bancor (BNT), and Synthetix (SNX) at Coinbase.com and in the Coinbase Android and iOS apps, Coinbase customers can now buy, sell, convert, send, receive, or store AAVE, BNT, and SNX.”
Following Coinbase’s announcement of the BNT listing, the digital asset rose by 16%. However, it is now down 3.96% to $1.55. With a market cap of about $142 million, BNT has dropped 4.97% in the last 24 hours.
Before the recent spike, BNT had been pulling in gains since October. On the 19th of November, Bancor revealed that the company had $60 million in total value locked (TVL).
Cointelegraph stated that the demand for DeFi would increase if Bitcoin and ETH soars. Now, BTC has crossed the $20,000 barrier and is currently trading at $20,673.94.
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