who are making the move to the new Chain DEX are seeing some impressive price gains, which could open the floogates for many more to follow.
Chain Migrations Are So Hot Right Now
Shortly after the launch of its mainnet yesterday, as well as the details for the BNB swap, revealed that Mithril (MITH) will be the first project to see its migrated on Chain.
“MITH will be one of the first projects to migrate onto Binance_DEX. Our community, thank you for your support!” Changpeng Zhao, CEO.
Additionally, the exchange also announced that they will be adding support for MITH/USDT pairs today, April 19th.
As a result, MITH price 00 surged. At the time of this writing, MITH is up more than 69 percent against the USD over the last 24 hours.
As seen in the above chart, MITH is doing very well when against as well. Over the past day, it has marked an increase of about 57 percent.
Binance Midas Touch
While Mithril was the first project to announce its migration to Chain, others are now following in its footsteps.
Red Pulse, a market intelligence platform which covers ’s economy and capital markets, has also that it will be migrating to ’s .
Just as MITH, the price of Red Pulse’s , PHX 00 has also surged following the announcement.
Against , the surged more than 36 percent. However, its price has since pulled back a bit as PHX is up about 20 percent up at press time.
Another ENJIN 00, belonging to Enjin , is also seeing considerable gains after announcing it would support chain alongside the ENJ/USDT ticker being listed on the exchange.
The Enjin Wallet will fully support Chain, including assets and exchange functions.
We’re excited to be a part of this revelation and provide users with a convenient, secure, and precise platform.
— Enjin (@enjin)
Incentive to Pump Price
Sudden increases in the prices of different following their migration to ’s surely remind of and the ICO craze that saw prices saw to record highs when the total market cap surpasses $800 billion.
Back then, a lot of newly issued on the network used to skyrocket in value following their initial coin offering, netting those who invested in them notable returns.
Of course, we have yet to see if will become the new ‘ factory.’ But it will be interesting to see if more coins follow suit to chain, particularly if it comes at the expense of .
Admittedly, the incentive to pump their value after a 15-month bear market is certainly palpable at the moment.
What do you think of ’s and DEX? Don’t hesitate to let us know in the comments below!
Images courtesy of Shutterstock,
Published at Fri, 19 Apr 2019 14:59:06 +0000
