Binance adds Ecosystem (INS) cryptocurrency
Time to buy your groceries with BTC or ETH.
Binance has added Ecosystem (INS) to its marketplace, available as BTC:INS or ETH:INS pairs, and the time of listing shows an abrupt price spike on CoinMarketCap from around US$7 to US$10.
INS is designed to let users buy groceries directly from manufacturers more conveniently, and at lower prices, so its actual value for money might be easier to calculate than other coins.
The coin aims to decentralise the grocery industry by directly connecting manufacturers and consumers, and plans to use smart contracts to cut costs wherever possible to help keep prices down.
The INS token can also function as a kind of grocery rewards scheme, bringing extra benefits to shoppers.
The total INS supply is 50 million, while the circulating supply is 30 million. The US$10 current prices are high compared to the US$2.57 ICO price.
- Bitcoin price lags while regulators raise fears and banks grapple
- Bitcoin price sees volatility around $37,000 with Pantera Capital projecting $115,000
- Ethereum price: Upswing may be on the cards as ETH continues leaving exchanges
- Bitcoin falls 10% in weekend trade as alts run
- Ethereum price: Upward surge noted but fears of near-term volatility continue to persist