Bancor (BNT) saw its price surge more than 70% on Monday, reaching its highest level in two months. The coin’s upside was driven by whale activity, network growth, and buyside pressure despite the geopolitical events in the Middle East dampening sentiment.

The BNT/USD pair traded at highs of $0.69 on Coinbase, reaching a two-month peak of $0.69. In a single day, the active BNT addresses hit 797 – the highest in nearly two years, according to data by Santiment.

A massive haul of BNT by a wallet linked to Korea’s largest crypto exchange Upbit was one of the factors that drove buyside pressure. Analysts at Santiment noted that if the on-chain metrics continue this rate, a further increase may be in store.

Bulls can target the supply zone at $0.77 and multi-month highs going back to mid-June. While on the downside, Bancor looks for a demand reload at $0.34 if the key price level of $0.50 is breached.