Binance announces giveaway of IOTX – Coin jumps 10 ranks ahead!

Binance just announced the giveaway of a small, lesser-known coin; IOTEX [IOTX]. The cryptocurrency exchange platform had recently announced the listing of IoTeX [IOTX]. On 1st June at 5:00 AM [UTC], IOTX was open for trading with the pairs – IOTX/BTC and IOTX/ETH. The customers and investors began depositing IOTX while it prepared for trading.

Today, Binance tweeted:

“20,000,000 IOTX to Give Away in a Lucky Draw & Trading Competition! support.binance.com/hc/en-us/artic…”

Azfar, a Twitter user commented:

“Thanks for pumping my IOTX and my LOOM bags!”

Before the announcement, the coin ranked was #200 on CoinMarketCap and was traded at the price of $0.03 with a market cap of $39 million. After the announcement of the giveaway by Binance, the coin jumped up to #187, the current trading price is $0.041 and the market cap is $47 million.

Over the last month, Binance has listed five coins – Theta [THETA], Civic [CVC], Skycoin [SKY], ZenCash [ZEN], and TrueUSD [TUSD]. These tokens have seen a raise since its listing on the platform.

Binance paves the way for the cryptocurrency investors and traders. It was initiated in 2014 and has grown to be one of the largest, multi-language exchange platform. Binance is known to provide fewer fees during transactions and security. The trading platform has played a major role in the crypto market and also has been speculated to be the reason why coins pump up.

At the time of writing, IOTX is traded at the price of $0.040 with a market cap of $46 million. The coin has seen a rise of 12% in the past 24 hours.

Liquidator, a market follower tweeted:

“how is it possible the pump started a couple of minutes before ?”

To this, marxwal, a crypto enthusiast tweeted:

“Happens everytime. Insider trading at its finest”

The post Binance announces giveaway of IOTX – Coin jumps 10 ranks ahead! appeared first on AMBCrypto.