Cryptocurrency

A token Set increases its price by 1600% in a few hours


Key facts:

The price of Serum, jumped from 0.11 to almost 2 dollars shortly after being listed in several houses of cam

Your listing in Binance seems to have driven the price.

The rise of the protocols of finances decentralized (DeFi) continues its meteoric rise, as is in evidence with the recent launches of projects such as Serum, future home of change decentralised whose token has increased in price by 1,600% in just a few hours.

The price of the token Serum (SRM) recorded a strong increase on Tuesday, hours after it launched, when it jumped from us $ 0,10 to reach USD 1,98. In the following 24 hours subsequent to their issuance, the value of the asset had soared by 1,600%, while the volume of operations exceeded USD 500 million, as shown by the data of Coingecko. For the time of writing, the asset is traded in USD 1,77.

Binance listed in Serum with four pairs trade a few hours after its launch, which could have contributed to an increase in the price of the token. Serum is also available to operate on protocols Defined as Uniswap, BitMax, HBTC, Balancer, TomoDEX, 1Inch and FTX.

The increase in the price of SRM immediately after its release is proof enough that the traders, investors and speculators still have a lot of hunger for anything related to DeFi. There is also the wave of additional users who are involved with DeFi for the first time due to the large amount of publicity that the sector has been receiving lately.

Report of DappRadar.

SRM is a token of useful and governance of the Serum Project, a new home of change decentralised implementation system (DEX) that would be next to go to the market. This project was born from the integration of the centralized platform trading of derivatives FTX and the chain of blocks Solana.

Serum has three tokens: a token useful style wrapped anchored to the price of Bitcoin, the SerumBTC; a stablecoin , SerumUSD, which is a token ERC20 traceable to allow contracts between the chains; and a token of governance that offers commercial discounts in Serum and is burned with the proceeds of the transactions in the network.

The market, DeFi has been growing during this 2020. Some people have earned thousands of dollars in a short time thanks to the high-level speculative nature of these platforms. However, many others also have demonstrated vulnerabilities that have also cost thousands of dollars to other investors.

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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