Crypto General News

Binance releases IOTX Competition to giveaway 20,000,000 IOTX

Binance is the one of the widely accepted Crypto-Exchange Worldwide. When we talk about average trades, Binance does $1.4-1.5bln trades daily and also earned a net income of $150 million in the first quarter of 2018.

In the last one month, Binance has listed five coins on its exchange mainly Theta [THETA], Civic [CVC], Skycoin [SKY], ZenCash [ZEN], and TrueUSD [TUSD]. The price of all the coins has been increased since then. To learn in detail about crypto-trading on Binance, click here.

Recently, Binance listed one of the less-known coin, IOTEX [IOTX] on its exchange. As per AMBcrypto, Binance has announced the giveaway of coins in order to attract more users.

The exchange also declared that “To celebrate the listing of IOTX on Binance, we have committed a total of 20,000,000 IOTX to give away to our fans worldwide. All participants should hold at least 20,000 IOTX in their Binance account for the entire duration of the competition, from start to finish, or they may be deemed ineligible.” The competition time period is from 13-06-2018 00:00 AM to 20-06-2018 00:00 AM (UTC). For latest details about Cryptocurrency, visit Bittflex.

Here, users will be ranked on the basis of the total IOTX volume traded on their Binance account across various IOTX trading pairs in the competition period.

1st: 2,000,000 IOTX

2nd: 1,200,000 IOTX

3rd: 800,000 IOTX

4th-10th: split 2,000,000 IOTX

11th-20th: split 2,000,000 IOTX

21st-50th: split 2,000,000 IOTX

Later, Users who have at least IOTX trading volume of at least 150,000 IOTX including buying and selling will be kept in below lucky draws:

– 10 Lucky users on the exchange will be drawn one-by-one to evenly split 1,200,000 IOTX (120,000 IOTX each)

– 20 Lucky users on the exchange will be drawn one-by-one to evenly split 8,800,000 IOTX (44,000 IOTX each)

Lastly, lucky draw winners will be live-streamed online. To get a daily dose of Cryptocurrency news, Click here..

Presently, IOTX price is 0.036 USD and its position is 192 according to CoinMarketCap. It is expected that there will be a sudden spike in the price of the coin in the near future.

Binance and various other crypto-exchanges play a vital role in increasing and decreasing the price of various coins in the market. Also, people trust Binance more as compared to other currencies, because it allows transactions at low cost and provide good security.