Two altcoins surge after surprise listings on cryptocurrency exchange

A low-value altcoin built on the Stellar blockchain (XLM) is on the rise after receiving a surprise boost from Binance.

In a new announcement, the global cryptocurrency exchange said that privacy-focused MobileCoin (MOB) will begin trading on its platform.

According to the project site,

“MobileCoin is a security-focused cryptocurrency that addresses four core issues: security, transaction speed, power consumption, and optimization for mobile devices.”

MobileCoin specializes in payments via messaging apps, where only the sender and receiver have access to the data of each transaction. Desktop version is also available.

The project describes itself as “a simple, cryptocurrency, like PayPal but secure.”

News of the list of Binance MobileCoin pushed higher in two separate peaks, as it rose 101% to $3.62 to reach $7.29 before a sharp correction.

MOB is still up 24.4% at the time of writing and is trading at $4.42.

Nexo (NEXO) is also getting the green light from Binance, whose lending and borrowing platform allows users to earn up to 17% annual interest.

According to the project’s website, Nexo has more than four million users in more than 200 jurisdictions and currently has more than $12 billion in assets under management (AUM).

Binance says about NEXO,

“Nexo is a blockchain-based lending protocol that provides banking services to retail users.” [such as] Lend, Borrow, Negotiate [and] Credit card.

The NEXO token is used for governance and platform benefits, as well as for receiving interest payments.

At the time of writing, Nexo stock is up about 6% and trading at $2.39. The altcoin initially jumped 23% from $2.21 to $2.72, before correcting to $2.29.

Binance says that MOB and NEXO will be available for trading in the trading pairs of Bitcoin (BTC), Binance USD (BUSD), and Tether (USDT).

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Featured image: Shutterstock / Natalia Siiatovskaia / Mia Stendal

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