Binance is twice shy after the Centra (CTR) coin fallout, so the last two assets added come with additional warnings.
Recently, the exchange added QuarkChain (QCK), not to be confused with Quarк (QRK), but the asset is extremely volatile. In the few short hours of trading, QCK has spiked to a peak near $0.34, then slid to $0.20 on still relatively thin volumes. The listing of QCK mystified the crypto community, as it is a relatively unknown digital asset.
The last addition to Binance is Singularity NET (AGI). This time, the warnings about QCK led Binance to delay the listing until enough AGI assets were deposited to its wallets. A low free float coin, with only a handful of assets on the exchange, would be more vulnerable to pumps and price fluctuations.
https://twitter.com/binance/status/1003910910858031104
While AGI trading has not started, the price effect was immediate: the asset is up more than 16% overnight. AGI performed the usual price movement for ICOs, with high volumes initially, but crashing and drifting sideways for months afterwards. Now, volumes may pick up again, if Binance manages to provide liquidity.
Both QCK and AGI depended on relatively unknown exchanges, but also got a boost from their activity on KuCoin, the other newly created exchange that is reaping the traffic from up and coming projects.
The QuarkChain project aims to create a fast peer-to-peer transaction system, a tool already available through other digital assets.
SingularityNET is even more ambitious - attempting to build a distributed AI project. The ecosystem of SingularityNET is a marketplace for AI services - datasets, or other tools and solutions. The AGI token is the payment solution for this marketplace.
Both tokens belong to relatively ambitious ICOs, once again showing that exchanges may be suffering from ICO fatigue. The tokens are relatively low-priced, but there is no guessing where the markets would take them, as interest is concentrated on EOS and TRON (TRX). Both the newly listed coins have relatively small communities, and the initial trading for QKC and AGI may be fueled by bot activity.
This article appeared first on Cryptovest
