Polymath [POLY] prices soar on Binance listing
Polymath [POLY] is gaining steam soon after Binance, among the world’s biggest exchanges, listed the coin for free on its platform. Polymath’s listing is a result of a contest that Binance holds every month, which allows the community to vote for the coin they want listed on the exchange.
Binance held its eighth round of its popular “Community Coin of the Month”, where Polymath beat four other cryptocurrencies to cement its place on the exchange.
— Binance (@binance) July 31, 2018
POLY started trading on Binance on Tuesday, and could see its volumes pick up in the coming days.
According to data on Binance’s official website, the coin is ranked as the 73rd most valuable cryptocurrency, with a market capitalization of $116.6 million.
The contest has had its share of controversy, with many Reddit users claiming that more than 50 percent of the community votes for this round had been manipulated. Binance CEO Changpeng Zhao addressed the issue, saying that vote manipulation would be dealth with strictly.
In the last week alone, the coin has gained nearly 22 percent against Bitcoin [BTC], and it looks like this momentum could continue.
The prices found support at $0.42, following which the virtual currency kept gaining. The coin is attempting to breakout from the current resistance level, which can be traced at $0.52.
At the time of writing, the MACD was traced in the bullish zone. The 100 EMA line indicated that the coin was exhibiting an uptrend. The significant trading range can be found from $0.4 to $0.6.
As of 1150 GMT, POLY had jumped 10.2 percent in value against the U.S. dollar to trade at $0.44.
The digital asset is gaining against BTC by 12 percent. Currently, one POLY is equal to around 0.000054 BTC.
Image via Shutterstock
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