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Monday, September 27, 2021

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Mobox (MBOX), a token that Binance is giving away and has risen 300% What is it about?

After Binance listed Mobox (MBOX) on its exchange, we now see an impressive escalation in its price. If you want to know what this project is about, then you should check out this post.

At the time of this writing, MBOX is trading at $ 8.89, accumulating a gain of 1.8% in the last 24 hours.

Mobox (MBOX) price evolution.  Source: CoinGecko.
Mobox (MBOX) price evolution. Source: CoinGecko.

Since its listing on Binance 11 days ago, this token is up 355%. Amid the euphoria, the price reached an all-time high of $ 10.90.

The price explosion is thanks to the promotion of this token through the Binance Launchpool, a place from which exchange users can participate in pools of liquidity to obtain rewards.

Some users report that they have even received MBOX tokens for free directly to their Binance wallets, further fueling the buzz.

Currently the APY of Mobox in the Launchpool is 59.96%, and users will be able to take advantage of this juicy loot until September 19 by staking their BNB or MBOX coins.

MBOX Launchpool.  Source: Binance.
MBOX Launchpool. Source: Binance.

About Mobox (MBOX)

  • We have already reviewed everything that happened with the price of this token, but what is the project about? Coming up next, we tell you.
  • Mobox is a DeFi protocol that seeks to combine the best of yield farming with the trend of NFT-based games.
  • The game has been online since April 6 of the current year, and is very similar to the popular Axie Infinity.
  • In Mobox it is possible to earn money without making any investment; however, you can also use MBOX tokens to purchase higher performing NFTs in-game.
  • MBOX is the platform’s native token and is used to process in-game transactions, staking for rewards, and taking governance votes.
  • The total supply of tokens will be 1 billion. 51% of these will be minted by the community, 21% will be sent to those who contribute to the ecosystem, 8% to strategic partners and 20% to the development team.

Where is the token headed?

Since its launch on Binance, the price has only increased. It is currently making a small pullback, which could still extend a bit further.

The big price spike clearly creates a clear short-term uptrend, and the low strength of the bears during corrections tells us that the odds remain on the buyers side.

It is also true that after a rise of such magnitude, the best part of the party has already happened, but this does not mean that more profits cannot be accumulated in the near future.

MBOX vs USDT daily chart.  Source: TradingView.
MBOX vs USDT daily chart. Source: TradingView.

All our publications are informative, so in no case should they be followed as investment advice.

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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