Red Pulse (RPX): The First NEO-Based Token on Binance Trades Live
The most high-profile NEO ICO, Red Pulse, has started trading on Binance. Just days after the worrying maintenance event, Binance continued business as usual, even going as far as offering 70% discount off trading fees.
"Binance Lists Red Pulse (RPX)https://t.co/nQgnEY4UIypic.twitter.com/LcWzVm0YKc— binance (@binance_2017)February 12, 2018"
Binance Lists Red Pulse (RPX)https://t.co/nQgnEY4UIypic.twitter.com/LcWzVm0YKc
The effect was felt immediately, as Red Pulse rapidly appreciated overnight:
But RPX has yet to revisit its heights against both BTC and the USD from December and January. The asset reached a peak at $0.67, but crashed to $0.11. Even with Binance trading, RPX still sees very thin trading volumes.
The Future of Red Pulse
As Chinese blockchain projects gain pace, and NEO increases its influence, Red Pulse is seen as one of the most promising projects. With its market-tracking technology, the Red Pulse project may be quite busy serving the needs of the crypto community.
"Be careful of scam accounts! Check everything carefully - notice the misleading account names (pulse is missing the letter 'e' and 2017 has an 'l'). Never send anything to a random account without verifying. Red Pulse will never ask you for a private key.pic.twitter.com/jQWHqfVAGr— Red Pulse (@red_pulse_china)February 12, 2018"
Be careful of scam accounts! Check everything carefully - notice the misleading account names (pulse is missing the letter 'e' and 2017 has an 'l'). Never send anything to a random account without verifying. Red Pulse will never ask you for a private key.pic.twitter.com/jQWHqfVAGr
NEO-based tokens are still few and far between. In fact, Red Pulse is the first of its kind to be listed on Binance. The exchange has proved quite agile, moving beyond ERC-20 tokens.
"$RPX$NEORed Pulse is the first NEP5 token to be listed on@binance_2017. Trading pairs include BTC, ETH, and BNB.Trading is already live on Binance!https://t.co/4XExaSLHaa— Red Pulse (@red_pulse_china)February 12, 2018"
$RPX$NEORed Pulse is the first NEP5 token to be listed on@binance_2017. Trading pairs include BTC, ETH, and BNB.Trading is already live on Binance!https://t.co/4XExaSLHaa
In the case of NEO, several ICOs are in the works, boosting the Chinese platform's profile.
At this point, the price of RPX remains volatile, and Binance trading is yet to show its full effect. RPX until recently relied on Korean trading, on Kucoin and Huobi, and now may gain international exposure with Binance.
The Binance Effect
Binance will never announce in advance the intentions to list a coin. The announcement only comes at the last moment.
Yet many projects that are currently thinly traded are asking the question quite often. In the case of Nano (XRB), and possibly projects like Electroneum (ETN), trading pairs on Binance would be an improvement from the exchanges they are currently traded on.
The price of TRON (TRX) also went through its phenomenal climb largely due to the Binance trading. At the same time, the Binance exchange gained prominence, as more users flocked to it to grab a hold of hot new assets.