Three of the top crypto exchanges are adding a litany of new coins for trading, sending prices on a volatile roller coaster ride.
In a new announcement, Binance says they are listing metaverse altcoin Highstreet (HIGH) for open trading.
According to Binance Research,
“Highstreet is an open-world metaverse that incorporates shopping, gaming, NFTs [non-fungible tokens], traditional and crypto brands in an MMORPG [massively multiplayer online role-playing game] game.
Users can play-to-earn by completing quests, attending social events, socializing with players, shopping for NFTs from real-world brands.”
Highstreet’s native governance and utility token HIGH has seen highs and lows since the announcement. The listing sent HIGH’s value from $23.99 to an all-time high (ATH) of $38.42 in a matter of hours, a 60% increase.
However, HIGH has since heavily corrected and is currently trading at $19.66, a 48% decrease from HIGH’s ATH.
Similarly, Singapore-based exchange Crypto.com announced support for gaming studio and NFT marketplace platform Vulcan Forged PYR (PYR). According to the announcement,
“Vulcan Forged is a blockchain game studio and NFT marketplace. Its utility token, PYR, is an ERC-20 token with close to zero gas fees involved in its use.
The primary use for PYR will be as a form of currency in the Vulcan Forged marketplace. Vulcan Forged aims to revolutionize the play-to-earn concept in gaming, where PYR can be earned just by playing the studio’s many DApps.
PYR powers the entire Vulcan Forged DApp ecosystem and can be used as a settlement, staking, and gaming utility token.”
PYR has ridden the ups and downs of price volatility since the announcement.
First, PYR’s price increased 6.9% from $20.56 to $21.97 before dropping 4.5% to $20.98.
From there, the altcoin’s price jumped back up 3.9% to $21.80 before dropping 5.6% back down to $20.56. PYR has since leveled out and is currently trading at $21.43, down 5% over the last 24 hours.
Finally, top US-based exchange Kraken got in on the altcoin action, adding popular Ethereum-competitor Terra (LUNA) for open trading. According to a Kraken blog post, the layer-1 smart contract platform,
“… is a protocol for algorithmic stablecoins that aims to rebuild legacy financial rails in a decentralized environment.
It blends the price stability of fiat currencies with the censorship-resistance of cryptocurrencies to offer fast and affordable settlements.”
LUNA has enjoyed positive price action since Kraken’s announcement, jumping 9.2% from $61.64 to $67.32 in a matter of hours. LUNA is currently trading at $67.32, up 2% over the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong
