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The crypto exchange has listed the management token of the Hooked Protocol project, which creates game-based learning products for the mass adoption of Web3
The price of the Hooked Protocol (HOOK) token soared by 4900%, that is, 50 times – from $0.1 to $5 – in the first minute after the opening of trading on Binance, after which it dropped to a level of about $2. At 18:15 Moscow time, the price of the coin fluctuates around $2.1 on the exchange.
The Hooked Protocol is a protocol that offers educational and playful products for mass adoption of Web3 and creates an infrastructure for connecting businesses to decentralized networks.
Binance has announced the distribution of tokens to BNB holders through a subscription with a minimum deposit of 50 BNB ($14.7 thousand). More than 114,000 people signed up to receive HOOK, contributing a total of more than 9 million BNB ($2.6 billion), which exceeded the subscription limit by 1,066 times.
As a result, as a result of the proportional distribution of tokens, users received 139 HOOK for every 50 BNB they put into the subscription. The platform deducted 0.047 BNB from them each, and returned the rest of the pledged funds.
The price of the token was set at 1 HOOK = 0.0003381 BNB or $0.1. Coin trading began in the following trading pairs: HOOK / BTC, HOOK / USDT, HOOK / BUSD and HOOK / BNB.
In mid-October, after the opening of trading on Binance, the Aptos cryptocurrency also rose in price: its rate soared by 10 thousand% in the first minute.
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