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The price of Aion (AION), a multi-tier blockchain system designed for scalability, privacy, and interoperability, is currently up around 19% to $0.46 after Binance announced that it would be supporting the mainnet swap several months after the network officially went live.

“Deposits and withdrawals of AION will be suspended starting from 2018/10/15 10:00 AM (UTC), at which point we will begin the mainnet swap process,” states Binance in the announcement.

The news comes roughly 3 months after Aion’s first exchange listing for its new native coin, which was completed on the little-known Bilaxy exchange. Aion’s mainnet officially went live on April 25 of this year, laying the foundation of the network’s multi-chain framework.

The recent surge in price is almost entirely driven by trading activity on Binance, with a 24-hour trading volume of more than $11 million. As a point of reference, the second largest exchange in terms of AION trading volume is KuCoin, with $57,000 over the last 24 hours.

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As a result, Aion now has a $103.6 million market cap, making it the 56th largest cryptocurrency in the AltDex 100 Index (ALT100).

More: Binance Will Support AION (AION) Mainnet Token Swap

Related: Loom Network (LOOM) Trades Higher Following Bithumb Listing

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.

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