ChatCoin (CHAT) added to Binance, up 500% from ICO price
CHAT is now available for trading on Binance, showing the characteristic spike and readjustment of a fresh cryptocurrency.
ChatCoin has been added to Binance. This is the largest exchange it's been listed on, and Binance has accounted for over 60% of the coin's trading volume in the last 24 hours, according to CoinMarketCap. The first hour after its addition saw about $11 million of CHAT transactions on Binance, starting at about US$0.50 per token, 500% up from the ICO price of $0.082. In the approximately 17 hours since its addition, the coin's price has gradually flattened to around $0.38. This is the usual price path for a coin after becoming available on a major exchange for the first time. An almost identical pattern showed up with PIVX on Binance, and has been seen with many more.
ChatCoin is the native digital asset of the blockchain-based Bimp chat platform. It's designed to serve as an incentive for other services to come into the chat ecosystem and provide additional digital services. This Binance listing price pattern has proven to be robust across a wide variety of coins, market circumstances and different situations, and historically one can confidently predict that a coin will initially spike and then readjust downwards after a Binance listing. One of the potentially more interesting tests of this theory could be coming when Nano, formerly known as RaiBlocks, is eventually listed on Binance. It's probably better known than most of the newly listed coins and there's a lot of anticipation around the upcoming listing.