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Harmony accounts for 99.19% of total volume on Binance DEX

Biraajmaan Tamuly



Harmony accounts for 99.19% of volume of Binance DEX; harmony protocol 1st first IEO on DEX
Source: Pixabay

During the major price surge of 2017, ICOs were one of the most sought-after in the cryptospace, with various projects going public seeking initial funding from investors.

2019 has seen a similar frenzy following an evident bull run in the market, with the present-day hype around the release of several IEOs fueling it.

Harmony [ONE], backed by the Harmony protocol – the first IEO on a major decentralized exchange, became the first token to trade both on Binance exchange and Binance DEX.

Source: Twitter

At press time, Stephen Tse, the Founder of Harmony, announced that the ONE token accounted for 99.19% of the total volume on Binance DEX, making it the largest token being traded on the largest decentralized exchange in the world.

Tse also took time to applaud Binance and suggested that Binance’s Changpeng Zhao aka CZ was influential over the entire proceedings.

Additionally, Tse revealed that 25 million ONE tokens worth $500,000 USD were currently active on Binance DEX.

In light of the successful launch of the token, it was announced on Medium that the organization was airdropping 25,000,000 Harmony ONE tokens on Binance DEX, for a duration of five days, starting May 29, 2019.

The post stated,

“Each day all the Binance Chain addresses holding a minimum of 10 BNB and reaching a trading volume of 100,000 or more Harmony [ONE] tokens [including buys & sells] on Binance DEX will equally share a pool of 5,000,000 ONE tokens.”

The introduction of Binance Launchpad saw various projects being listed on the exchange, with the platform crucial to attracting the interest of early investors.

CZ responded to the announcement by Tse and tweeted,

Source: Twitter

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Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

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