Stellar (XLM) Soaring After Surprise Support From Binance

After receiving unexpected backing from Binance, a low-cap altcoin based on the Stellar (XLM) network surges. The global crypto exchange has announced that MobileCoin (MOB), a privacy-focused cryptocurrency, will begin trading. https://twitter.com/xiuxiu88643753/status/1520336951211032576 According to the Webpage for the Project,

"MobileCoin is a security-focused cryptocurrency that focuses on four key issues: security, transaction speed, energy usage, and mobile device optimization."

MobileCoin specialises in cross-app payments, with only the sender and receiver having access to the details of each transaction. There is also a desktop version.

"A simple, encrypted utility currency, similar to PayPal but more secure," the project claims.

The announcement of the Binance listing sent MobileCoin flying in two waves, surging 101 per cent from $3.62 to a high of $7.29 before abruptly retreating. Nexo ($NEXO), a lending and borrowing platform that allows users to earn up to 17% yearly interest, has also received Binance's approval. According to the project's website, Nexo has over four million members in over 200 jurisdictions and presently manages over $12 billion in assets (AUM).

$NEXO, According to Binance,

"Nexo is a blockchain-based lending technology that provides retail consumers lending, borrowing, trading, and credit card services."

The $NEXO token is used for governance, platform advantages, and interest payments." Nexo is trading at $2.39 at writing, up roughly 6%. The altcoin first increased by 23% from $2.21 to $2.72 before reversing to $2.29. MOB and $NEXO will be accessible for trade in the Bitcoin (BTC), Binance USD (BUSD), and Tether (USDT) trading pairs, according to Binance.