Skycoin (SKY) to the Moon Ahead of Binance Listing
While most of the cryptocurrency market is in red today, Skycoin has continued to record huge gains since the announcement of its listing on Binance.
Binance is the second largest cryptocurrency exchange in the world and known for boosting the value of altcoins listed on its exchange. A few hours earlier, Binance announced that it will be adding support for Skycoin. The exchange will open trading for SKY/BNB, SKY/BTC and SKY/ETH trading pairs on Thursday, May 24 at 9AM (UTC).
— Binance (@binance) May 23, 2018
Skycoin is a decentralized open blockchain network that uses a community consensus algorithm known as Obelisk. The network requires no mining and as such prevents the development of centralized power. Created by the original developers of Bitcoin and Ethereum, Skycoin claims to be the Most Advanced Blockchain Application Platform in the World.
This emerging cryptocurrency has gained more than 35% in the past 24 hours. It is currently trading at $34.42 with a market capital value of over $309 million.
Skycoin trade volume has also jumped in the past few hours from $1.5 million to well over $6 million as traders ride the upward wave. This is expected to plunge higher when trading officially opens on Binance. At the moment, over 50% of its trade volume is being processed by New Zealand’s crypto exchange cryptopia.
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