Capybara Nation was one of the best performing cryptocurrencies on Friday, November 22, as it surged over 435% after a major listing.
The Capybara Nation (BARA) the token surged to $0.00001358, giving it a fully diluted valuation of over $1.3 billion.
This rally occurred after the developers launched the airdrop, and the token was immediately listed by Crypto.com, one of the largest crypto exchanges in the industry.
The inscription occurred in part because the Capybara nation is built on Cronus (CRO) blockchain, associated with Crypto.com. The data shows that most of its volume was happening on VVS Finance, the largest decentralized exchange on Cronos, followed by Crypto.com Exchange.
Capybara’s price has surged due to the hype surrounding its airdrop and developers’ commitment to improving its network. This strategy includes more listings on major Tier 1 exchanges such as Binance, OKX, and Coinbase. The developers are also committed to launching new staking and questing features and partnerships.
The BARA token also soared as investors embraced the fear of missing out (FOMO) post-listing. FOMO is common among new coins, especially during a crypto bull run.
Capybara Nation aims to become one of the biggest players in the Cronos ecosystem. It operates a popular game to win on Telegram, which has attracted millions of users. These users can earn coins, upgrade their quest cards and maximize their profits.
Additionally, users can earn coins by completing daily combinations, following its social networks and sponsoring other users.
A key difference between Capybara Nation and other Telegrams tap to win games like Hamster Kombat and Notcoin is that they use Cronos instead of the TON Blockchain.
There is a risk that ongoing gains will be short-lived, as seen with other tokens to earn. Hamster Kombat remains 75% below its all-time high, while Notcoin has fallen 80%, costing its holders more than $1 billion.