Binance lists new cryptocurrency rising 50%

After Binance delisted Neutron (NTRN) This Tuesday (10), the cryptocurrency increased in value by 50% in a few minutes, from US$0.36 to US$0.54. At the time of writing, Neutron is trading at $0.41.

In addition to the visibility that Binance has given to the project, another point that explains its rise is the new liquidity of the cryptocurrency. According to data from CoinMarketCap, NTRN’s daily volume rose 21,500%, potentially attracting larger investors.

Neutron (NTRN) rises after listing on Binance.  Source: CoinMarketCap.
Neutron (NTRN) rises after listing on Binance. Source: CoinMarketCap.

Another cryptocurrency that Binance benefited from last Tuesday was Stratis (STRAX). After the broker announced that the project would start trading on Binance Futures, STRAX appreciated 17%, delivering a 66% gain over the past week.

Binance announces the arrival of Neutron on Launchpool

In addition to the listing of Neutron (NTRN), Binance also announced that the project will be available on Launchpool. Basically, users can lock their Binance Coin (BNB), TrueUSD (TUSD), and First Digital USD (FDUSD) to receive NTRN in return.

A total of 20,000,000 NTRN (approximately R$40 million at current prices) will be made available between this Wednesday (11) and the last Monday of October, the 30th.

“Introducing Neutron (NTRN) on Binance Launchpool! Farm NTRN by deploying BNB, TUSD and FDUSD.”

According to Neutron’s own website, the project is a cross-blockchain smart contract platform, which allows developers to extend their decentralized applications (dApps) to different networks, without having to implement or maintain different versions of their protocols.

Details about Launchpool can be found on the broker’s website. As for the cryptocurrency listing, Neutron (NTRN) will initially be available on the pairs NTRN/BTC, NTRN/USDT, and NTRN/BNB.

Stratis (STRAX) is also jumping on the Binance listing

The Stratis cryptocurrency (STRAX), which has been on the market since 2016, already experienced a major appreciation in 2017, but fell again in the following years. With the news that Binance will make STRAX trading available on its futures market, the project has risen again.

During the week, STRAX makes gains of 66%, making it the second cryptocurrency in the CoinMarketCap top500 with the largest weekly gains.

Although Bitcoin remains stable at $27,500, some projects stand out with unexpected profits. Others are not so lucky, for example the HarryPotterObamaSonic10Inu memecoin lost 27% of its value during the same period.

Source: Live Coins

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