2021-12-17 21:01:31

Binance and Crypto.com Announce Support for Two Ethereum-Based Altcoins As Kraken Adds Terra (LUNA)

Three of the top crypto exchanges are adding a litany of new coins for trading, sending prices on a volatile roller coaster ride.

In a new announcement, Binance says they are listing metaverse altcoin Highstreet (HIGH) for open trading.

According to Binance Research,

“Highstreet is an open-world metaverse that incorporates shopping, gaming, NFTs [non-fungible tokens], traditional and crypto brands in an MMORPG [massively multiplayer online role-playing game] game. 

Users can play-to-earn by completing quests, attending social events, socializing with players, shopping for NFTs from real-world brands.”

Highstreet’s native governance and utility token HIGH has seen highs and lows since the announcement. The listing sent HIGH’s value from $23.99 to an all-time high (ATH) of $38.42 in a matter of hours, a 60% increase.

However, HIGH has since heavily corrected and is currently trading at $19.66, a 48% decrease from HIGH’s ATH.

Similarly, Singapore-based exchange Crypto.com announced support for gaming studio and NFT marketplace platform Vulcan Forged PYR (PYR). According to the announcement,

“Vulcan Forged is a blockchain game studio and NFT marketplace. Its utility token, PYR, is an ERC-20 token with close to zero gas fees involved in its use. 

The primary use for PYR will be as a form of currency in the Vulcan Forged marketplace. Vulcan Forged aims to revolutionize the play-to-earn concept in gaming, where PYR can be earned just by playing the studio’s many DApps. 

PYR powers the entire Vulcan Forged DApp ecosystem and can be used as a settlement, staking, and gaming utility token.”

PYR has ridden the ups and downs of price volatility since the announcement.

First, PYR’s price increased 6.9% from $20.56 to $21.97 before dropping 4.5% to $20.98.

From there, the altcoin’s price jumped back up 3.9% to $21.80 before dropping 5.6% back down to $20.56. PYR has since leveled out and is currently trading at $21.43, down 5% over the last 24 hours.

Finally, top US-based exchange Kraken got in on the altcoin action, adding popular Ethereum-competitor Terra (LUNA) for open trading. According to a Kraken blog post, the layer-1 smart contract platform,

“… is a protocol for algorithmic stablecoins that aims to rebuild legacy financial rails in a decentralized environment. 

It ​​blends the price stability of fiat currencies with the censorship-resistance of cryptocurrencies to offer fast and affordable settlements.”

LUNA has enjoyed positive price action since Kraken’s announcement, jumping 9.2% from $61.64 to $67.32 in a matter of hours. LUNA is currently trading at $67.32, up 2% over the last 24 hours.

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Featured Image: Shutterstock/Tithi Luadthong

 

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