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

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.

According to on-chain analytics firm Santiment, 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.

Source: Santiment – Start using it today

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.

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.

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.

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.

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.

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.

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.

We recommend eToro

74% of retail CFD accounts lose money.
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!