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Mainframe is now on Binance’s list of cryptocurrencies. The announcement was made on July 5 in a blog post by the crypto exchange company, BitcoinExchangeGuide reported.
After its announcement, Mainframe’s currency immediately experienced what’s known as the Binance Effect. This phenomenon occurs when a cryptocurrency sees a significant increase in its price following its addition to Binance, the leading crypto exchange in the world.
CoinGecko’s data, according to BitcoinExchangeGuide's report, indicates that MFT, Mainframe’s cryptocurrency, saw an upsurge of 500 percent in value after the blog post’s release. Of course, traders should keep in mind that this price spike is not sustainable and would likely peter out as MFT starts to settle.
Trading for Mainframe’s native currency is paired as MFT/BNB, MFT/BTC, and MFT/ ETH, with open trading for the pairs slated to start on July 7. Binance’s announcement comes a week after Mainframe invaded Paris to give away MFT tokens through an Airdrop.
“HELLO PARIS! Who wants some $MFT? We’re doing a pop-up Airdrop TONIGHT! Meet us at Avenue Joseph Blvd in front of the Eiffel tower between 9:00 & 9:15! We’ll be the ones wearing Mainframe shirts,” the tweet announced.
So why is Mainframe giving away their tokens? Well, crypto companies have been doing these Airdrops because they want to avoid their currencies being labeled unregistered securities.
The company’s representatives have been traveling to different cities giving away their tokens, a move that Mainframe is calling “Proof-of-Being.” By distributing MFTs to people across the globe, the company is assuring them that their tokens are not restricted to a single territory. It also ensures that multiple communities are holding MFTs, accelerating the rate of global adoption.
Mainframe’s philosophy is centered on the protection of free speech and journalists who are putting their lives on the line to provide the public with accurate news. The company recently gave 1,000 ETH ($542,000) to a non-profit organization aiming to protect journalists and whistleblowers from threats. As of this writing, MFT is ranked 185th in the global cryptocurrency ranking and is trading at $0.0018.
