NTRN, the native token of the Neutron project, jumped 48% to $0.53 on news of its Binance listing. On Tuesday, the giant cryptocurrency exchange announced it will list NTRN and open trading for NTRN/BTC, NTRN/USDT, and NTRN/BNB spot trading pairs on October 10 at 12:00 UTC.
The crypto exchange stated that users can now deposit NTRN into their Binance accounts in preparation for trading.
Binance also noted that it will add NTRN as a borrowable asset with the NTRN/USDT pair on Isolated Margin within 48 hours of the listing. According to the exchange, withdrawals for NTRN will open on October 11 at 12:00 UTC.
What Is Neutron?
Built on Cosmos SDK and secured by the Cosmos Hub, Neutron is a relatively new smart contract platform that allows developers to build cross-chain decentralized applications (DApps) across Cosmos network’s 51+ interconnected blockchains. The NTRN token powers the project.
The latest listing from Binance is expected to bring NTRN to a wider audience of potential investors as the exchange is the largest in the world. The listing could also lead to increased liquidity and trading volume for the token.
According to CoinStats, the token is currently ranked 262 with a 24-hour trading volume of $4.42 million and a market cap of $80.80 million. NTRN currently has a circulating supply of 151.90 million coins and a maximum supply of 1 billion.
Notably, NTRN has also been listed by several crypto exchanges, including Bitrue and Astroport.
Binance Bullish on Neutron (NTRN)
Meanwhile, this is not the first time Binance will announce major support for the Neutron project. In June, the crypto exchange led a $10 million funding round for the smart contract platform.
At the time, the crypto exchange noted that the funding would help develop “Neutron’s blockchain software, foster the expansion of the Neutron ecosystem, and facilitate the creation of secure and user-friendly DApps among new developers.”
