Binance, four days ago on their Twitter account and on their official website announced the listing of Selfkey [KEY], a blockchain based identity verification technology which respects privacy and freedom of users. Prior to the Binance listing, just a week ago, as shown below, KEY was trading at $0.0068 to a token with a market cap of $13 million.
Post the Binance listing just a few days ago, as shown below, KEY has bounced by more than 470% and at press time was continuing to surge at 15% over the past hour. It has jumped from trading at the 345th position to the 107th position.
Although people from the community have had skeptical comments over a possible “pump-and-dump” because of the Binance listing, the trading volume suggests otherwise. At press time, SelfKey had a trading volume of $497 million which beats Litecoin, Ripple, Tron and other major cryptocurrencies to rank at the 6th position in terms of the 24-hour trade volumes.
SelfKey’s recent bounce has come at a time when the markets have been uncertain with Bitcoin in the last week dropping below the $6000 mark to trade at $5800 to break 2018’s lowest level record. Comments from the community have been mixed with some like Tariq, a senior iOS engineer at Visa says,
“KEY should be atleast $0.4 by end of July”
The video above was released during their ICO stage in January this year. Some from the community are still skeptical of the meteoric rise that KEY is experiencing over the past week. Christopher Demang, an altcoin investor from Manila spoke to AMBCrypto and says,
“They make it sound like a good product but just wait for the next 48 hours for it to dump. Nothing rises by more than 400% and cannot crash. This will dump hard. By now everyone in the industry knows that the day Binance lists something there is a pump”
Another investor who invested in KEY during their ICO stage says,
“I have invested in their ICO for philosophical reasons, the current rise scares me and makes you doubt the intentions. What comforts me is the trade volumes, it’s epic. Selfkey can be phenomenal, I just hope we don’t get too carried away by monetary pleasures.”