Binance is the largest trading exchange of the cryptocurrency market by volume. As an exchange lists coins for traders to trade, some trading platforms distribute tokens as loyalty points for a particular blockchain token holder. Binance on 16th July announced the distribution of Everipedia [IQ]. As observed IQ is currently pumping and experiencing a surge of over 58%.
On 16th July, Binance tweeted:
“#Binance Distributes #IQ
Lingmahesh Chikkmaraiah, a Twitter user commented:
“I have not received my June NPXS that was on Binance why? I had kept the tokens in the walled. Your support system is crap, help me with this. @PundiXLabs @zibin”
Binance to elaborate the distribution announcement, in its blogs, said:
“Binance has completed the distribution of IQ. You can login and check that the tokens have been credited to your account. Please make sure you have not selected “Hide small assets” to see the distributed tokens in your account. “
The distributions of IQ was calculated at a rate of 1 EOS : 5.1 IQ. And it was based on a snapshot of EOS balances at a block height of 5,721,760 at 2018/06/02 09:59:59 AM [UTC].
Binance also mentioned that the withdrawals of these IQ tokens are only applicable after one day.
Lionel_crypto, a crypto-enthusiast said:
“wow no token to pump and dump binance has not started the withdrawals until a day is over. hod it peeps hod the shitcoins”
Everipedia is a new approach towards the old model of an encyclopedia. The platform is ad-free and openly available for everyone to use. It possesses over 6 million articles and is aiming for more. As per the content volume, Everipedia is already the largest English encyclopedia in the world. The company aims to address the critical factors commonly cited for Wikipedia’s downturn in participation, such as deletionism.
On 16th July, Everipedia started its day with the trading price of $0.045, the coin pumped after the announcement made by Binance. At the time of writing, IQ is trading at the price of $0.072. The coin is currently facing a pump of 58.22% and no information regarding its market cap is available on Coinmarketcap.
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