Ardor (ARDR), the coin behind the eponymous blockchain-as-a-service (BaaS) project, jumped more than 45% early morning on Wednesday, marking the sharpest increase in the market today after one of the leading exchanges, Binance, announced it was adding ARDR to its trading roster.
Ardor will be available for trading as of 11 am UTC on Wednesday in three pairs - with Bitcoin (BTC), Ethereum (ETH), and Binance’s own token, BNB. Deposits are already open in preparation for trading.
At 08:04 am, ARDR was changing hands at $0.23, which represented an increase of about 46% over the $0.16 it commanded in the last 24 hours. Ardor had a market cap of over $236 million, which put it at number 56 among the top 100 most traded cryptocurrencies at the time of publishing.
Binance is one of the major players in the cryptocurrency market and typically spurs hefty price jumps with listing announcements. Its trading volume in the past day exceeded $1.7 billion.
The Ardor project
The Ardor crypto project is owned by Barcelona-headquartered Jelurida. The coin is based on the NXT technology and has a parent-child chain architecture that allows companies to build their products on the Ardor platform. ARDR is a non-minable token with a total supply of 999 million units, which are already in circulation.
“The Ardor Platform uses the Proof-of-Stake consensus algorithm which eliminates mining competition, therefore nodes can use low energy and economical hardware. Ardor is built on top of NXT’s four years of production experience, and is developed in Java, the most popular development language for commercial applications,” the project explains on its website.
Ardor claims to reduce blockchain bloat and provide multiple transactional tokens. Jelurida plans additional child chains to be launched on the Ardor mainnet in the third quarter of this year, as well as lightweight contracts runner add-on.