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Bytecoin propelled by 30{7ac5c3bf57b95c89d20da1c585f68f2fe47644be0187dccece42864a092023b1} after getting listed on Binance

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Cryptocurrencies usually get a major boost after getting listed on major exchanges and getting listed on the world’s biggest exchange gave Bytecoin a huge boost in terms of price. On 8th May 2018, just a few hours ago Binance announced that it was listing Bytecoin on its platform, the prices were pumped immediately after the announcement with over 30{7ac5c3bf57b95c89d20da1c585f68f2fe47644be0187dccece42864a092023b1} gains in less than an hour.

Bytecoin surged from $0.007 to $0.009 and in terms of BCN/BTC from 74 Satoshi’s to 97 Satoshi’s within an hour of the announce on Coinmarketcap.

Binance provided  3 trading pairs for Bytecoin  BCN/BNB, BCN/BNB, and BCN/BTC. Bytecoin is a private, open source and untraceable cryptocurrency which was started in 2012 according to Blurb. Bytecoin is the first coin that implemented the CryptoNote technology and was very popular on the Darknet.

Once a transaction takes place on the blockchain, the address cannot be viewed by anyone so Bytecoin became a very popular anonymous cryptocurrency based on this technology.

Bytecoin’s website states that: “Bytecoin’s are gradually getting more expensive over time and since the emission is limited to 184 billion BCN….The number of Bytecoin emitted every 120 seconds is slowly decreasing…. As a result, BCN gains value and the exchange rate increases….Currencies with sharp decreases of reward per block are exposed to huge declines in network power, Bytecoin emissions are decreasing slowly, which protects the currency from economic shocks.”

Binance listing has propelled Bytecoin into the top 25 cryptocurrencies by market capitalization and has surpassed Icon, Verge, and Lisk. BCN was at a market cap of $1.7 billion on the 20th spot just behind OmiseGO. Trade volume of Bytecoin jumped by over 160{7ac5c3bf57b95c89d20da1c585f68f2fe47644be0187dccece42864a092023b1} in 24 hours.

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