Centrifuge (CFG) Price Explodes by 63% on New Binance Listing

CFG exploded by more than 60% in minutes after Binance announced that it will list the cryptocurrency on its exchange.

Centrifuge’s native cryptocurrency, CFG, has exploded by more than 60% in a matter of moments. This happened after Binance announced it would list the token for spot trading across three pairs. Namely, these are CFG/USDT, CFG/USDC, and CFG/TRY.

According to the official announcement, the trading will open today at 13:00 UTC. Users won’t be able to deposit CFG until one hour after the trading begins.

The price reacted immediately, soaring from around $0.12 to almost $0.2 before retracing to its current price of $0.181.

Moves like these are very typical of exchange listings, especially when it’s a leading name like Binance or Coinbase.

It’s interesting to see if the gains are sustained, however. As CryptoPotato reported just last week, the price of Internet Computer’s token, ICP, also soared by more than 16% once the leading South Korean exchange Upbit listed it for trading. It reached a high of almost $3, but has since retraced to about $2.7.