BankrCoin (BNKR) experienced extreme price volatility following its Coinbase exchange listing, surging to an all-time high of $0.00113 before plummeting 27.8% within ten hours.
The cryptocurrency plunged to $0.000823 as profit-taking intensified, reducing its market capitalization from a peak of $100 million to $83 million. Daily trading volume remains elevated at approximately $39 million.
Market concerns center on significant holder concentration, with the top 100 addresses controlling 56% of the total supply. Exchange balances surged 44.6% during the sell-off, indicating heightened selling pressure.
Technically, BNKR tests crucial support at the 61.8% Fibonacci retracement level of $0.00080. While On-Balance Volume (OBV) suggests underlying buying interest, the Relative Strength Index (RSI) signals potential bearish momentum continuation.