Binance exchange has announced the listing of the OCEAN Protocol token as of an hour ago. The coin is ranked 66 on CoinMarketCap and the news made it appreciate 26.16 percent.
Meanwhile, Binance has also announced the upcoming launch of an ETH/USD coin-margined perpetual contract with up to 75x leverage for participants.
OCEAN-based pairs to launch on Binance
Crypto trading behemoth Binance has spread the word about the listing of OCEAN-based pairs that took place about an hour ago; the coin is now trading against Bitcoin, BUSD and the platform's native Binance Coin (BNB).
Binance specified that it charged OCEAN Protocol no fee for the listing.
At press time, OCEAN is changing hands at $0.570181, having surged by over 28 percent, according to CoinMarketCap.
About OCEAN Protocol
OCEAN builds software that helps users create their own data marketplaces and monetize the data they offer through a decentralized sharing network.
While enabling users to monetize their data, the protocol allows them to retain their privacy and control over their data.
On August 21, OCEAN started a token migration to the new token OCEAN contract. Migration was from the old ERC20 contract to a new one on Ethereum. The blog post reports:
This token swap allows us to inject the necessary monetary policy for long-term sustainability of the Ocean Protocol project.
Among the goals of the migration are to activate rewards on the network—which will provide funding for new core developments of the software on the network—create dapps and other methods of further OCEAN Protocol adoption.
Earlier, when explaining its reasons for listing coins (and delisting them), Binance pointed out that the constant development of a project is a major criterion for them.
Binance lists ETH/USD perpetual contract
Binance has also announced that its Futures division will list an ETH/USD coin-margined perpetual contract on Tuesday, Aug. 18.
For this contract, ETH will be used as collateral with leverage of up to 75 percent offered to traders.