Harmony (ONE) Reaches $600M In Volume After Binance DEX Launch

Harmony (ONE) which comes after Binance’s latest initial exchange offering (IEO), reached a $600 million in volume level over the past 24 hours according to the gathered data that we have in our altcoin news below.

The token trade saw some high trade volume on Binance and Binance DEX according to the data from CoinMarketCap. Harmony is the first token to debut on both platforms-Binance regular and Binance DEX. The executives started wondering around the new price action through a publicity campaign right before the launch which included a giveaway in order to promote the ONE token among the future investors.

However, social media crypto users were not as impressed. The Twitter user known as Squeeze summarized:

 “It’s up by 800%+ from (the) IEO. Wouldn’t recommend chasing this. I’ve been eyeing this for a while. This has very huge hype. But not gonna buy at this price. Will wait for dips in the coming weeks. If it moons hard, I don’t mind missing this. Plenty of other choices.”

Harmony (ONE) was not really a popular token before the Binance hook-up but after the DEX launch, a slight excitement was sparked among traders. As reported in the latest cryptocurrency news, Binance’s decentralized platform saw huge volumes in the five hours than its biggest competitor IDEX. Binance itself was stunned by the broad turnaround of fortune since it recovered from the $41 million hack at the beginning of May.

During the downturn week, the exchange gained full functionality and resumed trading instantly with the Binance Coin making incredible gains and rewarding the users who stayed loyal during the difficulties on the platform. BNB outperformed as noted, and reached a new all-time high against the US dollar when it passed the $35 price point for the first time. The token is now officially the seventh largest cryptocurrency by market cap but its trading volume is still at $560 million making it lower than ONE’s.

According to the exchange’s own research, there was a changing trend in the crypto industry over the week. Non-crypto consumers are starting to pay attention to bitcoin and altcoins again and institutional investors are getting interested further in the crypto sector. The exchange expects a new influx of traders soon.