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.
Mithril will be the first project to migrate to @Binance Chain!$MITH token holders on the new @Binance_DEX will be the first to experience increased speed, security, and user friendliness while maintaining full control over their funds.
Learn more: https://t.co/R2jEAlFCqr pic.twitter.com/5zScQGznn4
— Mithril_Official (@MithioOfficial) April 18, 2019
“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 Binance.com 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.
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.