A low-cap altcoin built on the Stellar (XLM) blockchain is rallying after receiving surprise support from Binance.
In a new announcement, the global crypto exchange says that privacy-focused MobileCoin (MOB) will begin trading on its platform.
According to the project’s website,
“MobileCoin is a security-focused cryptocurrency that addresses four fundamental issues: security, transaction speed, energy consumption and optimization for mobile devices.”
MobileCoin specializes in payments across messaging apps, where only the sender and receiver have access to each transaction’s data. A desktop version is also available.
The project bills itself as “a simple, encrypted utility currency, like PayPal but secure.”
News of the Binance listing sent MobileCoin soaring upward in two distinct spikes, rising 101% from $3.62 to a peak of $7.29 before correcting sharply.