The internet of things blockchain has seen a tremendous rise in price in the past 24 hours as Bithumb exchange announced listing the token on Friday 31st August.
IoT on Chain (also known as IoT Chain or ITC) announced on its Medium page this Friday August 31, 2018 of its listing on the Bithumb cryptocurrency exchange. The announcement saw a soar in price of the ITC token by 42.86% in a few hours as investors bought into the coin. The price of ITC increased from a low of $0.24 USD to climb above the $0.3 USD mark at $0.367039 USD. The coin is currently ranked at position 200 on the Coinmarketcap listings with a total market capitalization of $22,979,160 USD
IoT on Chain (ITC) gains listing on Bithumb Exchange
The other cryptocurrency projects mentioned above i.e. VeChain, WaltonChain and Iota are some of the largest projects in the IoT industry and also rank highly amongst top cryptocurrencies. One of the major advantage such tokens hold is the listing they hold on many exchanges across the crypto universe. This ensures adoption across a larger market to the project. ITC aims at increasing the number of exchanges trading the coin to increase overall adoption.
Bithumb exchange announced on Friday, 31st August 2018 that it will list IoT Chain pairs for trading on the platform. This will become the fifth major exchange to list the ITC token after Kucoin, OKEx, Huobi and Bibox. The exchange currently carries out daily trades worth $300 million USD and ITC recent listing will see its total daily volumes traded increase significantly.
The Bithumb 1% payback event:
To celebrate ITC’s listing, Bithumb will run ‘1% payback event’ that will reward any deposits and trading on the platform with a 1% ICT tokens used. The 1% payback event is set to begin this Friday, August 31, 2018 and will run through till Thursday, September 6th 2018.
What will happen during the event?
- 1% payback on all ITC deposit and trading during that time
- Deposit period: Deposit address opens ~ Sep 02, 2018 at midnight (UTC+9)
- Trading Period: Listing of ITC ~ Sep 06, 2018 at midnight
IoT Chain (ITC) aims to become biggest internet of things blockchain
The brilliance if the Internet of Things (IoT) is beyond what most imagined. In the world of cryptocurrency, the battle for the iron throne is heated up as projects such as IOTA, WaltonChain and VeChain providing IoT services on their blockchain. The IoT Chain (ITC) blockchain is however proving to be a force to reckon with in the field of communication amongst devices.
IoT on Chain looks to solve current IoT security and safety issues using distributed ledger technology. Using a hybrid approach of blockchain, Practical Byzantine Fault Tolerance (PBFT), and blockless Directed Acyclic Graph (DAG) architecture, we are able to create a decentralized IoT network with unparalleled speed and security that allows users to maintain their data sovereignty.