Decred (DCR) Jumps 25% on Binance Listing Announcement
The price of Decred (DCR), a blockchain platform that leverages a hybrid proof-of-work (PoW) and proof-of stake (PoS) consensus model, is up 25% to $48.17 after being listed on Binance, the world’s leading crypto exchange.
— Binance (@binance) October 23, 2018
According to the announcement, Binance will open trading for DCR/BNB and DCR/BTC trading pairs at October 24 at 4:00 AM (UTC).
This is the first major listing since Binance announced that it would now disclose all listing fees and donate the proceeds to charity. The announcement reveals that Decred paid no listing fee, perhaps due to its recent decision to cede control of its 570,000 DCR development fund, which is equivalent to $23 million, to its blockchain community.
Following news of the Binance listing, DCR briefly surged over $50 before settling around $48.17, a nearly 25% gain on the day. The project now has a $416 million market cap, making it the 25th largest coin in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.
Photo: Marco Verch / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.