Binance To Support Ethernity Chain Token Swap, ERN Price Soars 30%

Cryptocurrency exchange Binance again echoed a buzz across the broader market on Friday, revealing plans to support the Ethernity Chain token swap and rebranding. In the midst of the crypto exchange giant’s latest market aid, the ETH Layer 2 platform with AI capabilities saw its native token ERN price skyshot nearly 30%.

Binance Unveils Support For Ethernity Chain Token Swap; Here’s All You Need To Know

In an official release dated February 28, Binance revealed that it is extending support for the ERN token swap and rebranding. As per the announcement, the exchange will support the revamping of the Ethernity Chain to Epic Chain (EPIC).

Here’s What Traders Should Know:

Notably, all existing ERN spot trading pairs will be wiped out on March 10 at 03:00 UTC. Further, the exchange will also cancel all pending spot trading orders for the same.

Subsequently, the crypto trading platform will commence trading for EPIC/USDT trading pairs starting March 13 at 08:00 UTC.

What’s More?

Deposits and withdrawals of ERN tokens are to be suspended starting March 10 at 03:30 UTC. Further, deposits for EPIC tokens will start on March 13 at 07:00 UTC.

Binance also notified users that it would make a separate announcement to notify users when withdrawals for the new rebranded token have opened. Ethernity Chain tokens will no longer be supported after the token swap event concludes.

“All ERN tokens will be swapped to EPIC at a ratio of 1 ERN = 1 EPIC,” the leading crypto exchange clarified. Trading bot services and spot copy trading services on the platform will also be impacted accordingly.

What Other Binance Trading Services Will Stop For ERN?

Also, the crypto exchange will eliminate ERN from Cross and Isolated Margin offerings on March 6 at 06:00 UTC. However, effective immediately, users will no longer be able to transfer any amount related to ERN Cross and Isolated Margin into their Margin account.

Additionally, Flexible Rates and VIP Loan services for the same are to be knocked off on March 6 at 03:00 UTC. Starting March 7 at 03:00 UTC, Simple Earn services and subscriptions will also be removed for the former token. For more details on the token swap and rebranding saga, traders can move on to the crypto project’s official announcement.

ERN Price Shoots Up 30%

Amid the CEX’s enhanced market support, ERN price witnessed a 31% uptick in value, exchanging hands at $1.67. The coin hit a bottom and a peak of $1.18 and $1.80 in the past 24 hours. Traders also appear to have reacted positively to the token swap and rebranding announcement, as signaled by a whopping 514% surge in the asset’s intraday trading volume to $41.58 million.

Overall, the broader market sentiment surrounding the ETH Layer 2 platform with AI capabilities appears to be optimistic amid recent advancements. Enhanced market support by leading crypto exchange giants often propels a bullish impact on price.

In another similar chronicle, KAITO emerged as the recent buzz of the crypto market as it secured a stockpile of listings on Coinbase and Binance. In turn, the crypto witnessed a phenomenal price rally, sparking similar investor optimism over the Ethernity Chain (ERN) token swap and rebranding.

The post Binance To Support Ethernity Chain Token Swap, ERN Price Soars 30% appeared first on CoinGape.

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