Popular cryptocurrency exchange platform Binance has announced the addition of Ardor (ARDR) to its catalog of supported altcoins. The platform announced the token listing via a post on its website on July 18, 2018. This latest addition brings the total number of supported digital currencies on the platform to 373.
According to the announcement, Binance will open trading for three ARDR trading pairs - ARDR/BNB, ARDR/BTC and ARDR/ETH. The platform also revealed that trading would commence at 11:00 AM (UTC). Traders can begin depositing ARDR in their Binance accounts in preparation for the start of Ardor trading.
The Ardor listing by Binance is a significant achievement for the project. Five months prior, the Ardor / NXT Group sponsored a community fund-raiser to get Ardor listed on large cryptocurrency exchanges. The fund-raiser managed to meet its goal of $100,000 USD and an application was submitted for listing Ardor on the Binance exchange.
The Binance listing announcement has unsurprisingly impacted Ardor's value.
The price of Ardor has spiked by more than 20 percent in less than 12 hours. ARDR is currently trading at $0.22 - 91 percent less than its all-time high of $2.55 on January 13, 2018.
A look at the ARDR price performance shows that the coin has been in decline over the last few months except a couple of brief rises in February and April. However, the Binance listing seems to have sparked a mini-revival -- although for how long it remains to be seen. At the time of this writing, ARDR has seen the 2nd highest 24-hour gains off all the top 100 coins.
Ardor is a blockchain-as-a-service-platform that evolved from the time-tested Nxt blockchain. It launched on January 1, 2018 after a successful year on testnet. The unique parent-child chain architecture of Ardor, with a single security chain and multiple transactional chains, offers three advantages: reducing blockchain bloat, providing multiple transactional tokens, and hosting ready-to-use interconnected blockchains called child chains.
The Ardor mainnet was launched in December 2017. It is currently the 56th-ranked cryptocurrency by market capitalization.