Binance lists Zilliqa, price immediately bounces 45%
Zilliqa gets to experience the Binance bounce after winning community coin of the month.
The "Binance effect" is still alive and well it seems, with one of its latest token additions seeing a sharp jump, in both price and trade volume, immediately after the listing. The token is Zilliqa (ZIL), designed to offer high performance and extremely scalable smart contract solutions for practical business applications. It won the Binance community coin of the month vote, after some of its competitors were disqualified for vote manipulation.
There's a lot of money on the line in a Binance listing, due to these characteristic price patterns, so these votes mean a lot. Binance has previously spoken out about its listing process, saying that 97% of token applicants are rejected and that it approves or denies coins based on their project merits.
This listing was enough to mark Zilliqa as one of the day's top gaining coins, and it seems likely that it will be riding at a near price and trade volume floor in the future.
According to CoinMarketCap, Binance already accounts for about 30% of the increasing Zilliqa trade volume after only a few hours.
Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM, SALT, BTC, NANO