Bancor

<p>The decentralized liquidity protocol Bancor saw its native BNT token surge over 70% in 24 hours this past weekend, coinciding with a notable uptick in network activity.</p>
<p>According to on-chain analytics firm <a href="https://twitter.com/santimentfeed/status/1711209287958327407" target="_blank" rel="noopener noreferrer nofollow">Santiment</a>, Bancor registered 797 active addresses on Sunday – the highest single-day level in nearly two years. This spike in usage comes on the heels of BNT’s massive price breakout.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="645" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-212-1024x645.png" alt="" class="wp-image-352108" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-212-1024x645.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-212-300x189.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-212-767x483.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-212-1536x967.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-212-2048x1289.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-212-238x150.png 238w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-212-100x63.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-212-556x350.png 556w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-212-788x495.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-212.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p>
<p>Santiment suggests sustained momentum in key on-chain metrics like active addresses often precedes further upside in an asset’s valuation. If the heightened Bancor activity endures, additional gains may follow.</p>
<p>However, the catalyst behind the renewed interest is unclear. Bancor did not announce any significant protocol changes or partnerships around the time of the rally.</p>
<p>Some speculate the price and usage spike stemmed from speculators anticipating a listing of BNT on a major centralized exchange. This narrative follows a common market pattern where investors front-run anticipated announcements.</p>
<p>Nonetheless, for a project long overlooked as a relic of the previous bull market, Bancor’s stellar weekend performance turned heads and reinvigorated its community.</p>
<p>Looking ahead, BNT may struggle to sustain its parabolic run without concrete fundamental improvements. Yet the on-chain activity hints the protocol still retains a loyal following ready to react to positive developments.</p>
<p>If Bancor can continue attracting users through long-awaited upgrades and integrations, its revival could have legs instead of fizzling out as a temporary pump and dump.</p>
<p>For now, the project appears poised to capitalize on its newfound momentum after months languishing in obscurity. But converting that into durable, organic growth remains Bancor’s central challenge.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/bancors-bnt-jumps-70-as-this-on-chain-activity-hits-2-year-high/">Bancor’s BNT Jumps 70% as This On-Chain Activity Hits 2-Year High</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Bancor’s BNT Jumps 70% as This On-Chain Activity Hits 2-Year High

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