“An Ethereum-based governance token is surging after being listed on crypto exchange giant Binance, not surprising”– Paul Ebeling
In an announcement on 2 December 2021, Binance says that the native governance token of Biconomy (BICO), sent BICO’s price surging from $4.47 on 1 December 2021 to close at $21.87 or 489% on 2 December 2021 based on 65,474,608 coin units outstanding for a market capitalization of $14-B.
|Dec 02, 2021||$13.84||$21.87||$8.80||$9.25||$612,373,724||$0|
|Dec 01, 2021||$4.47||$15.43|
BICO is working to solve lots of the issues associated with using Web 3.0, such as mandatory and volatile gas fees, the ability to only pay in Ethereum, and a long and complicated onboarding process that may turn away non-crypto savvy users. BICO holders can stake the token to earn awards and partake in the protocol’s governance.
“Almost every interaction with your DApp is a complex transaction for your users. In comparison to intuitive Web 2.0 products that people are used to, DApps can be extremely frustrating
Our aim is to make Web 3.0 products as intuitive and easy to use as legacy Web 2.0 products. Simplifying this transaction experience will be Key for decentralized projects to achieve any sort of adoption.
Thus, by solving key pain points at the crypto transactional layer, we are on a mission to simplify Web 3.0 experiences that will drive mass adoption.”
Binance’s announcement comes on the heels of rival crypto exchange Coinbase listing the token last wk, also causing the altcoin to rally.
Have a prosperous day, Keep the Faith!