Ethereum-Based Altcoin Explodes After Binance Lists Crypto Asset in Innovation Zone

Altcoin projects built on Ethereum (ETH) are about to explode after gaining approval from Binance, the world’s largest crypto exchange by volume.

suddenly binance announced List of Magic (MAGIC) in the Innovation Zone.

Binance’s Innovation Zone is a dedicated trading space for crypto assets that are prone to sharp price fluctuations.

MAGIC is the token that powers Treasure DAO, a project aiming to be a decentralized video game console that incorporates games and non-fungible tokens (NFTs). The Treasure DAO infrastructure includes: Trovean NFT marketplace on Ethereum scaling solution Arbitrum, and a competitive gaming platform called bridge world.

After Binance’s announcement, MAGIC took a parabolic turn, rising from $0.51 to $0.93 in just a few hours, registering an 82% jump.

Just last week, top US-based cryptocurrency exchange Coinbase announced it would be adding MAGIC to its listing roadmap. The announcement sent ETH-based altcoins up 25% in a matter of hours.

Coinbase has created a listing roadmap to reveal which cryptocurrencies the exchange plans to support to eliminate insider trading. Assets listed on an exchange’s listing roadmap do not necessarily get full support.

MAGIC started at $0.30 in December, but announcements from Coinbase and Binance saw the altcoin gain 210% in less than two weeks. MAGIC has corrected from its December high and is currently trading at $0.75.

MAGIC has a market capitalization of just under $220 million, down 87% from its all-time high of $6.32 set in February this year.

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