Bytecoin (BCN) is experiencing a 114% increase after being listed in Binance, one of the most important virtual currency exchanges in the market. Cryptocurrency enthusiasts have decided to bet on this virtual currency that now is the 15th virtual currency by market capitalization.
Bytecoin Skyrockets 114% in Less than 24 Hours
One of the privacy coins in the market, Bytecoin, experienced a 114% surge after being listed in the cryptocurrency exchange Binance. This is a very important announcement due to the fact that Binance is currently the second most important virtual currency exchange in the market managing $2.11 billion dollars in trading volume.
The most important trading pairs at the exchange are BTC/USDT, ETH/USDT, and ETH/BTC, accounting for 23% of the total trading volume at Binance.
The information has been released by Binance some hours ago.
— Binance (@binance) May 8, 2018
In a blog post, Binance wrote:
“Fellow Binancians: BCN/BNB, BCN/BTC and BCN/ETH trading pairs are now available on Binance for trading. You can start depositing and trading BCN now.”
At the same time, the community twitter account of Bytecoin said:
“I’m so proud to announce that Bytecoin is listed on @binance!!! A million thanks to everyone who participated in the integration process! And a huge thank you to our community for staying with us for all this time! @jnfgoldberg #BCN #binance #ByteCoin.”
Bytecoin is an open-sourced, private and untraceable virtual currency that was launched back in 2012. It is the first cryptocurrency to implement the CryptoNote technology as a default aspect to build a project. The currency was widely spread in the dark net as one of the most popular available methods for payment.
One of the main features of this cryptocurrency is that as soon as the transaction appears in the blockchain it cannot be viewed by anyone. Moreover, it offers unlinkable transactions, that make the blockchain resistant to being scanned, stealth addresses that hide the sender and the recipient.
At the same time, it offers ring signatures which can be created by someone from a group of users. But it is unknown who exactly the signer is.