A low-cap altcoin built on the Stellar (XLM) blockchain has exploded after a surprise listing on the world’s largest cryptocurrency exchange Binance.
In a new announcement by the platform, the global crypto exchange focused on privacy. MobileCoin (MOB) stated that it will start trading on the platform.
Alright What is MobileCoin? According to the project’s website, MobileCoin;
“It is a security-focused cryptocurrency that addresses four key issues: security, transaction speed, energy usage, and mobile device efficiency.”
MobileCoin specializes in payments across messaging apps, where only the sender and receiver can access the data of each transaction. A desktop version of the platform is also available.
Additionally, the project describes itself as “a simple, encrypted service coin like PayPal, but secure.”
Nexo (NEXO)
MobileCoin was not the only cryptocurrency approved by Binance. Binance is a lending and borrowing platform that allows users to earn up to 17% annual interest. to Nexo (NEXO) also added support.
At Nexo, users can deposit their crypto assets on the Nexo platform for various benefits, such as generating interest payments and depositing collateral for loans. According to the project’s website, Nexo has more than four million users in more than 200 jurisdictions and currently has over $12 billion in assets under management (AUM).
Binance had this to say about NEXO when announcing the listing:
“Nexo lends, borrows, trades to retail users. [ve] It is a blockchain-based lending protocol that provides banking services such as credit cards.
The NEXO token is used to receive management and platform benefits as well as interest payments.”
Although not as big as MobileCoin, Nexo initially rose 23 percent from $2.21 to $2.72. After continuing its rise, the altcoin continued to climb towards $ 3.35. At the time of writing, NEXO is trading at $2.97, up nearly 20 percent in the last 24 hours.
Binance says that both MOB and NEXO will be suitable for trading in Bitcoin (BTC), Binance USD (BUSD) and Tether (USDT) trading pairs.
You can check the price movements here.
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.