Two Crypto Assets Explode As Top Exchange Binance Reveals New Altcoin Listings

Two altcoins are soaring after being added to Binance, the world’s largest crypto exchange by trading volume.

In a new announcement, Binance says it’s listing Manchester City Fan Token (CITY), a community token for the English Premier League soccer team.

Immediately after the Binance announcement, CITY surged from $14.50 to $25.45, for a gain of 75% in mere hours.

Binance says of the altcoin,

“Manchester City Fan Token (CITY) is a utility token that gives Manchester City Football Club fans a tokenized share of influence on club decisions using Socios, a fan engagement and rewards platform for sports and entertainment organizations.”

CITY is built on the Chiliz Chain, an Ethereum-based blockchain that powers sports-focused fan engagement platform socios.com. Holders of the utility token will have access to project governance, rewards and staking.

The token’s price has cooled off since its initial surge, sitting at $16.68 at time of writing.

Binance is also making Ethereum Name Service (ENS) available to its users. Ethereum Name Service allows people to mint non-fungible tokens (NFT) 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 job is to map human-readable names like ‘alice.eth’ to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata.”

ENS more than doubled in price to a new all-time high of $85.19 as word began to spread, and is now valued at $79.29, making it the 122nd-largest crypto by market cap.

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Featured Image: Shutterstock/prodigital art/Dario Lo Presti

Source: https://dailyhodl.com/2021/11/10/two-altcoins-explode-as-top-crypto-exchange-binance-reveals-new-altcoin-listings/