Here’s why the Capybara Nation crypto token is soaring

Capybara Nation became one of the best-performing cryptocurrencies on Friday, November 22, surging over 435% following a major listing.

Capybara Nation (BARA) token rose to $0.00001358, giving it a fully diluted valuation of over $1.3 billion.

This rise occurred after the developers initiated the airdrop and the token was immediately listed by Crypto.com, one of the largest crypto exchanges in the industry.

The listing comes in part because Capybara Nation is built on the Cronos (CRO) blockchain associated with Crypto.com. Data shows that most of its volume occurred on VVS Finance, the largest decentralized exchange on Cronos, followed by Crypto.com Exchange.

Capybara’s price has increased due to the excitement surrounding the airdrop and the developers’ commitment to improving its network. This strategy involves more listings on major tier 1 exchanges like Binance, OKX, and Coinbase. The developers have also committed to launching new staking and mining features and partnerships.

⭐The Capybara Nation has entered the GOLDEN AGE ⭐
In just 48 hours $BARA It has reached 200x since its launch, is listed on https://t.co/eorsjhmMAo and has transferred our bets to our website! BUT WE DON’T STOP HERE!

Big things are on the horizon:
✨More listings on major exchanges
✨… pic.twitter.com/RdoaJz26qL

— Capybara Nation – $BARA live (@capy_nation) 22 November 2024

BARA token also rose as investors embraced fear of missing out (FOMO) after listing. FOMO is common among new cryptocurrencies, especially during a crypto bull run.

Capybara Nation aims to become one of the biggest players in the Cronos ecosystem. He runs a popular win-win game on Telegram, attracting millions of users. These users can earn money, level up mission cards and maximize profits.

Users can also earn money by completing daily combinations, following social media networks and recommending other users.

The main difference between Capybara Nation and other Telegram win-win games like Hamster Kombat and Notcoin is that it uses Cronos instead of TON Blockchain.

As seen with other tap-to-earn tokens, there is a risk that ongoing gains may be short-lived. While Hamster Kombat remained 75% below its all-time high, Notcoin fell 80%, costing its holders more than a billion dollars.