JAKARTA – The price of crypto Tranchess (CHESS) skyrocketed after listing on the Binance exchange. The CHESS token was officially traded on October 22 yesterday on the platform.
CHESS experienced an increase of 185 percent from the price of Rp. 28,000 to a new ATH at the price of Rp. 112,726 at the time of listing on Binance yesterday. 3 months earlier, the CHESS token was still trading at a price of IDR 5,214. At the time of writing the price of CHESS is at the level of Rp. 61,131 according to a report from CoinMarketCap.
The Daily Hodl reports that CHESS has been registered with Binance's Innovation Zone, a dedicated trading platform where users can trade new tokens that tend to have higher volatility and pose a high risk to traders as well.
“Tranchess is a yield-enhancing asset tracker with a variety of risk-return solutions on the Binance Smart Chain (BSC), consisting of 3 stage tokens (QUEEN, BISHOP and ROOK) and a CHESS governance token. The platform offers a variety of features including DEX (Tranchess Swap), money market (Primary Market), staking, and network governance,” according to a report from Binance.
CHESS recently managed to secure funding of 1.5 million dollars. The injection of funds came from Binance Labs, Three Arrows Capital, and a number of other crypto venture capital firms.
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