Nuls (NULS) Spikes as Binance Backs Mainnet Token Swap

The cryptocurrency reached $2.76 on Monday, when Binance supported token swap and added a new NULS trading pair with Tether (USDT).

Nuls (NULS), the virtual coin of a project for a commercial blockhain ecosystem, leapt nearly 14% on a daily basis on Monday morning (UTC), reaching $2.76, a level not seen since mid-June, when the project announced its main network (mainnet) token swap. The possible reason for NULS price growth, which was one of the largest this morning, may be the announcement of Binance support for the NULS swap.

Binance, one of the world’s top cryptocurrency exchanges, also added a new NULS trading pair with Tether (USDT) that became available at 04:00 UTC on Monday. Till now, the exchange has supported the coin trading against Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB). Binance, which supports one of the widest varieties of smaller coins, typically spurs hefty price jumps with listing and swap announcements.

“Binance would like to confirm that we will support the NULS Mainnet Token Swap. We will handle all technical requirements involved for all users holding NULS and will make a further announcement regarding the details of the swap at a later date,”

the exchange said in a statement.

At 07:11 NULS was up 13.7% on a daily basis at $2.76, compared to $2.43 a day earlier. The cryptocurrency had a market cap of more than $109 million, which made it the 86th biggest coin by value at the time of publishing.

NULS achieved $3.59 million trading volume for the last 24 hours with Binance accounting for $2.24 million of it.

NULS swap

NULS token swap from Ethereum-based ERC20 protocol to its own mainnet started on July 12. If users store their coins in exchange that backs the swap, then it will go automatically. In case that NULS are in a non-supportive platform, token holders should connect with the team who will provide them with an assigned ETH account for recycling of ERC20 tokens.

“You should transfer your tokens to the assigned ETH account and we will transfer the equivalent amount of new NULS tokens back to your NULS wallet when your ERC20 tokens are received. You have 3 months to claim your tokens in this manner,”

the team explained.

So far, KuCoin, Coinbene, Bit-Z, Bloex, KTrade, Chaoex, Bibr (b-i.top), and U-coin have announced support for the token swap.