The cryptocurrency market is a sea of red today (November 5), with most leading digital assets posting substantial losses after yet another market collapse.
However, one lesser-known altcoin has soared by triple digits following support from the biggest crypto exchange.
The Impressive Pump
Binance added Momentum (MMT) to various programs, including Binance Simple Earn, “Buy Crypto,” Binance Convert, Binance Margin, and Binance Futures.
The announcement triggered a major rally for the digital asset, whose valuation briefly skyrocketed above $4, whereas its market cap surged beyond $800 million. In the following hours, however, MMT retraced to the current $1.16, representing a 160% increase on a daily scale.
MMT Price, Source: CoinGecko
Reactions of that type are nothing unusual, as backing from Binance boosts the liquidity and visibility of the involved cryptocurrency, giving it a significant reputation shot.
Momentum (MMT) is a recently launched token that has also received support
We współpracy z: https://cryptopotato.com/this-cryptocurrency-explodes-by-160-after-backing-from-binance-details-here/
