Banana Gun Hits $5 Billion Trading Volume Milestone
With an increasing number of daily transactions, Banana Gun continues to draw attention and gain traction among memecoin traders.
Banana Gun has achieved a remarkable milestone, surpassing $5 billion in total trading volume. Since its inception, the bot has rapidly become a preferred solution for trading Ethereum tokens via Telegram.
This surge in popularity can largely be attributed to the ongoing meme-coin craze across various blockchains. Telegram bots facilitate a broad spectrum of trading actions directly through the messaging app, equipped with functionalities like stop-loss, take-profit orders, copy trading, multi-wallet management, and sniping.
When Banana Gun entered the market, it was not the first of its kind. Competitors such as Maestro and the renowned Unibot were already established. Nonetheless, Banana Gun carved out a niche for itself by offering advanced features tailored specifically for sniping enthusiasts.
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“Sniping” in the context of crypto trading involves participants competing in gas wars to secure prime positions in new token listings, a tactic prevalent among traders of newly launched meme-coins.
The bot’s success in attracting an increasing number of snipers has led to significant economies of scale, enhancing its efficiency. Banana Gun outperforms other bots in sniping speed an impressive 88% of the time.
Over the past month alone, Banana Gun’s trading volume has surged past $1 billion, boasting approximately 4.8k daily active users and generating over 35k trades daily.
In the broader market, Banana Gun is second only to Trojan in terms of trading volume. However, it is important to note that Trojan mainly operates on the Solana blockchain, which has emerged as a competitive arena due to its large meme-coin market and lower transaction fees, attracting a substantial volume of traders.
Banana Gun has primarily focused on the Ethereum blockchain. Revenue from high fees has placed it among the top eight protocols on Ethereum in terms of fees generated, with over $35 million accumulated in lifetime fees.
Notably, a portion of these revenues is distributed back to the holders of its native token, $BANANA. Holders enjoy a 40% share of the transaction volume revenue and a 50% share from taxes, providing a strong incentive to maintain their investment in $BANANA.
Moreover, transactions via Banana Gun not only allow users to benefit from revenue sharing but also to earn additional $BANANA tokens.
These incentives have fueled substantial demand for Banana tokens. Even amidst the current market downturn, $BANANA has maintained its strength, boasting a robust market cap of $100 million and up nearly 5x since its launch.
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