Mithril Becomes The Binance Chain’s First Project, Will launch A MITH/USDT Trading Pair
In just about two days of its launch, Binance’s blockchain protocol has supported its first project launch on its network. Mithril, a decentralized social media platform will migrate to Binance Chain, subsequently, the MITH token with a 121st ranks on CoinMarketCap will transfer from ERC20 to Binance’s BEP2 standard.
A highly anticipated project in the crypto world since its launch, Binance Chain received ample support from the community before and after its release on April 18. As per the reports, Binance is successfully luring companies to migrating to their new native chain and leave Ethereum.
A blog post from Mithril elaborated that the migration commenced after the mainnet launch of the Binance Chain. It further informed that MITH holders that deposit and withdrawals on Binance.com will be halted for the initial 12-hour migration period, however, trading will continue. The post added:
“Once the initial migration of ERC20-based MITH to BEP2 MITH is complete, Binance users will be able to withdraw MITH to BEP2 wallets, such as the Ledger Nano S, and begin trading on Binance DEX. ERC20 versions of MITH held in private ETH wallets or on other exchanges will not be impacted.”
With the news of the migration surfacing, the price of MITH observed a huge surge, a 70% hike, followed by a market correction. As of price time the token was valued at $0.0782 with a market cap of $40 million. The 24-hour trading volume pumped by 67.10% over the past day at $108 million. In the past seven days, the coin noted a surge of a massive 81.47%, which started to dip by 0.84% over the past hour.
Following the addition of the project, Binance announced the listing of MITH/USDT trading pair, which will start trading on April 19, 10 AM UTC.
Image source: Mithril Twitter