Fantom (FTM), a Directed Acyclic Graph (DAG) based smart contract platform that aims to solve the scalability issues of distributed ledger technologies, saw its price rally more than 70% over the last 24 hours after Binance revealed that it would be listing the small-cap altcoin for trading on its centralized exchange.
— Binance (@binance) June 10, 2019
According to the announcement, Binance will open trading for FTM/BNB, FTM/BTC, FTM/USDT, FTM/TUSD, FTM/USDC and FTM/PAX trading pairs on Tuesday at 12:00 AM (EDT). In the meantime, deposits are open via Binance’s BEP-2 standard.
This news comes shortly after Fantom joined the Binance Chain ecosystem and was listed on the Binance Decentralized Exchange (DEX), making it the first altcoin to jump from Binance’s DEX to the main exchange.
Moving forward, Fantom and Binance have indicated that they will be working together to improve the interoperability of the Binance Chain blockchain. By leveraging a cross-chain ecosystem, Fantom plans to support a number of token standards, including ERC-20 and BEP-2.
Given the high-profile Binance listing, Fantom will likely gain additional major exchanges in the coming weeks, with some on social media suggesting a Bithumb listing could be coming soon.
FTM is currently up 72% over the last 24 hours to $0.0371, giving the altcoin a $67.2 million market cap.
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.