Decred has surged over 24% after it was announced that the cryptocurrency would be added to the Binance exchange.
Binance announced the news on Twitter and stated that trading in the coin would begin tomorrow, the 24th October.
It was announced last week that Decred would be handing over its $21 million treasury to investors in a move designed to further decentralize governance. “Politeia” will give holders of the cryptocurrency the opportunity to exercise control over each project. The treasury held DCR 570,000, valued at roughly $21 million. Today’s rally will bring this figure closer to $28 million. The treasury is also funded by a portion of new coins created with each block, so it’s a self-funded system.
DCR now has a market cap of $417 million with a circulating supply of only 8.6 million coins, from a maximum supply of 21 million.