These two altcoins experienced significant increases in prices after Binance, the world’s largest cryptocurrency exchange by trading volume, announced new altcoin listings.
In a new announcement today, Binance is launching a community token for English Premier League football team Manchester City. Manchester City Fan Token (CITY) announced that it will list.
Immediately after the Binance announcement, CITY gained 75 percent in just a few hours, rising from $14.50 to $25.45.
Binance, altcoin says about it:
“The Manchester City Fan Token (CITY) is a utility token that gives Manchester City Football Club fans a tokenized stake in club decisions using Socios, a fan engagement and rewards platform for sports and entertainment organisations.”
CITY is built on Chiliz Chain, an Ethereum-based blockchain that powers the sports-focused fan engagement platform socios.com. Holders of the utility token will have access to project management work, rewards and staking.
The price of the token has cooled since its initial rise and is trading at $16.11, up 11 percent at the time of writing.
In addition to the Manchester City Fan Token, Binance also Ethereum Name Service (ENS)) is also available to its users. The Ethereum Name Service allows people to issue non-fungible tokens (NFTs) that can be linked to Ethereum addresses and web domains. According to the project’s website;
“The Ethereum Name Service (ENS) is a distributed, open and extensible naming system based on the Ethereum blockchain.
ENS’s mission is to use human-readable names such as ‘alice.eth’, Ethereum addresses, other cryptocurrency unit addresses, content hashes, and machine-readable identifiers such as the metaverse.
ENS more than doubled its price as news of the listing began to spread, reaching an all-time high of $85.19. Having lost some of its gains, ENS is trading at $72.78 at the time of writing, making it the 117th largest cryptocurrency by market cap.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.