As a seasoned crypto enthusiast with years of experience in navigating the tumultuous seas of the digital currency market, I must admit that news like Binance’s support for Firo’s hard fork and network upgrade is always a thrilling development. The potential implications are not only intriguing but also potentially profitable, as history has shown us that such announcements can often lead to significant price movements.
As a crypto investor, I received an exciting update yesterday from Binance, the giant in the crypto exchange world, about Firo, a privacy-centric digital currency project. They announced their intention to back the coin’s upcoming hard fork and network upgrade, which has significantly boosted interest in the token that was previously known as Zcoin. Intriguingly, within an hour of this announcement, the FIRO price surged by nearly 3%, according to the charts.
Binance Jacks Up FIRO Triggering Optimism
Starting from September 12, Binance has announced that they will begin preparations for supporting a privacy-focused platform’s hard fork and network upgrade. In line with this action, deposits and withdrawals for the FIRO token will be temporarily stopped as of September 16 at 04:00 UTC. This move aims to provide the best user experience, Binance explained.
The planned hard fork and update for the network is scheduled to take place when we reach block number 958,655, which approximately falls on September 16 at 05:00 UTC. According to the coin’s community, with their vote, the upgrade to Firo v0.14.14.0 will implement changes in the token economics.
As a crypto investor, I’m excited about the recent upgrade that has altered the block reward distribution in Firo. Now, 70% goes to Masternodes, 5% to Miners, 15% to the Development Fund, and 10% to the Community Fund. The official announcement from Firo provides a comprehensive insight into all these changes, keeping me informed and engaged as an investor.
As Binance supports the project’s forthcoming developments, crypto market enthusiasts contemplate the potential price movements that may ensue.
Token Price Jumps 3% Today
Over the past day, FIRO’s price has climbed approximately 3%, now standing at $1.12. Its lowest and highest points in a single day were recorded as $1.07 and $1.14, respectively. Today’s price fluctuations align with the broader market trend and Binance’s backing for the project’s forthcoming updates. Additionally, the coin’s 24-hour trading volume experienced a slight increase of around 7%.
Significantly, the growth in services provided by the giant crypto exchange has historically led to a rise in cryptocurrency prices. To give you an idea, the price of AERGO surged due to Binance’s expanded offerings as reported by CoinGape Media.
In summary, there’s much discussion among cryptocurrency fans about whether upcoming changes might spark an upward trend for privacy-oriented digital money systems.
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2024-09-12 10:22