The price of the OCEAN cryptocurrency increased by 30% for this reason?
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Answer The price of the OCEAN cryptocurrency increased by 30% for this reason?
The price of the OCEAN cryptocurrency increased by 30% in a few hours.
As for the reason for this rise, it is due to the announcement of its inclusion on the Binance platform, where hung Mr. Trent McConaughey, Founder of the OCEAN Project on the new listing process said:
It is my pleasure to have Ocean coin on Binance platform
It is a pleasure to have Ocean on Binance. I have great respect for Tweet embedAnd the Tweet embedAnd the Tweet embedAnd the Tweet embed and the rest of the Binance team. 🐠🐬🐙🐳
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– Trent McConaughey (@trentmc0) August 17, 2020
OCEAN initially rose to $0.69 before returning to its current value of $0.57, according to cryptocurrency analytics platform CoinGecko.
The developers of the “Ocean Protocol” project behind the coin aim to create a way for people, industries, start-ups, and governments to communicate and share information at a high level without compromising basic proprietary data.
To achieve this, the “Ocean Protocol” project allows building services for data transmission powered by blockchain technology.
Mr. Trent McConaghy said:
Ocean allows people to secure data without having to open the data itself.
This means that the project lays a foundation for realizing the potential of an open, permissionless data economy while maintaining privacy.
The recent jump in the price of the OCEAN coin is the latest example of the Binance effect, as the newly listed cryptocurrencies on Binance have traditionally been skyrocketing in price.
YFI is up 50% after Binance announced it will list it, while Serum is up 1,000% for the same reason.
And it is not only Binance who has this influence, as the matter extends to the “Coinbase” platform also due to its size in the crypto market as well, as it is expected that the “Coinbase” platform will list the OCEAN currency in addition to another group of digital currencies.
Read:Bitcoin has spent three months above $11,500 since its inception… What does that mean?
It is possible that traders have confused OCEAN with this latest platform coin, OceanEx, which has also risen in price by 35% for no apparent reason and coinciding with the rise of OCEAN, or it is possible that OceanEx coin on the VeChain blockchain has experienced an infusion.
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