Dock (DOCK), the native coin of a blockchain-based platform for managing of personal data, leapt more than 50% on a daily basis on Monday morning (UTC) as one of the largest cryptocurrency exchanges Binance announced it is listing the virtual coin on its trading platform.
The exchange will launch two DOCK trading pairs - with Bitcoin (BTC) and Ethereum (ETH) - as of 10 UTC on Monday. Deposits are already available in preparation for the trading.
“Binance will open trading for DOCK/BTC and DOCK/ETH trading pairs at 2018/07/30 10:00 AM (UTC),” the exchange said in a statement.
At 08:13 on Monday, DOCK traded at $0.078, up 53.3% on a daily basis. Notably, at 03:00, when Binance published its DOCK announcement, the price was $0.05, and just 15 minutes later, it was 55% higher.
DOCK presently ranks 214th in by market capitalization with a $32 million value. The token is currently traded only on four exchanges, with BTC and ETH pairs on Kucoin accounting for the bulk of volumes, followed by USDT trading on Gate.io.
The Dock project
Started in 2017 in the United States, the distributed ledger technology (DLT) platform Dock wants to unite all users’ data on the internet in one place. Based on the Ethereum network, the Dock protocol uses the encryption model and allows customers to monetize their personal information.
“This protocol is intended to incentivize the exchange of work experience, reviews and professional connections, and can be expanded to include any type of shareable data. In addition, the tokens serve as the proposal and voting utility to guide the evolution of development and changes to the Dock protocol,” the project explains in its white paper.
The DOCK token is the payment vehicle in the system. Users are rewarded with the coin if they decide to use the Dock application. DOCK is an Ethereum-based ERC20 token and uses IPLD, an InterPlenatary File System (IPFS) specification.
The project raised $20 million from an initial coin offering (ICO) earlier this year, according to the Dock website. The token has 379 million coins in supply, mostly issued during the ICO. The maxim token supply is set at one billion, the Dock presentation on Binance website shows.
This article appeared first on Cryptovest
