Mithril (MITH) Jumps 60% After Announcing Binance Chain Migration

original via Mithril / YouTube

Mithril (MITH), a decentralized social media platform that rewards creators for content, surged around 60% in Thursday trading after announcing that will become the first project to adopt the newly launched Binance Chain.

According to the announcement, migration of MITH from ERC20 to BEP2 will begin shortly after the mainnet launch of Binance Chain on April 18.

“We are honored to join Binance in growing the ecosystem and supporting the launch of the first DEX that will offer users the benefit of self-custodied funds and the wide liquidity pool of the Binance community,” said the Mithril team. “We are grateful for the long-standing partnership with Binance, and look forward to continued growth and success together.”

According to Binance, the first batch of 5,000,000 BNB will be allocated and deposited into an address belonging to in order to convert the ERC20 BNB for existing owners. Binance will burn 5,000,000 ERC20 BNB as well, to keep the total supply of BNB constant.

This news comes roughly 4 months after Binance first listed Mithril for trading on its main exchange.

After pulling back slightly, MITH is currently up 47.5% to $0.068286, giving the altcoin a $35 million market cap.

More: Mithril Partners with Binance as the First Project to Migrate to Binance Chain

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts