{"id":174575,"date":"2020-10-24T06:00:20","date_gmt":"2020-10-24T05:00:20","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=174575"},"modified":"2020-10-24T12:31:29","modified_gmt":"2020-10-24T11:31:29","slug":"this-newly-launched-crypto-token-just-pumped-1000-following-binance-listing","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/this-newly-launched-crypto-token-just-pumped-1000-following-binance-listing\/","title":{"rendered":"This newly launched crypto token just pumped 1000% following Binance listing"},"content":{"rendered":"<p>As the DeFi market\u2019s momentum continues stagnating, return hungry crypto investors have been flocking to presales and new token listings to try to garner massive profits in a short amount of time.<\/p>\n<p>However, this has resulted in massive losses due to the frequency of so-called \u201crug pulls\u201d resulting in investors losing 100% of what they put in.<\/p>\n<p>Today, however, a relatively unknown token called Audius (AUDIO) launched without much hype of talk of it on Twitter.<\/p>\n<p>Shortly after its launch, <a href=\"https:\/\/cryptoslate.com\/companies\/binance\/\">Binance<\/a> announced that it made a strategic investment in the project and gave it a listing on its exchange.<\/p>\n<p>This instantly created immense hype around the project, sending the crypto token\u2019s price rocketing by over 1000 percent in a mere matter of hours.<\/p>\n<h2><strong>Audius Music launches crypto token, receives Binance investment<\/strong><\/h2>\n<p>Earlier today, the mainnet for a new music-focus blockchain project launched, tied with the new AUDIO token.<\/p>\n<p>Upon launching, the crypto token saw mixed price action, drifting lower until Binance announced that they made a strategic investment in Audius Music \u2013 the project that the token is tied to.<\/p>\n<p>In the announcement, Binance <a href=\"https:\/\/www.binance.com\/en\/blog\/421499824684901135\/Binance-Labs-Leads-$125-Million-Extension-Round-for-Audius?ref=JLI1VBLA&utm_source=BinanceTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial\">explained<\/a> that they led a $1.25 million extension round in the project due to it already having a strong base of streaming content from top artists who can own and monetize their music without a middleman like a record label.<\/p>\n<blockquote><p>\u201cBinance Labs, the investment and incubation arm of Binance, has made a strategic investment in Audius &#8211; a decentralized streaming protocol giving everyone the freedom to distribute, monetize, and stream any audio content.\u201d<\/p><\/blockquote>\n<h2><strong>AUDIO token rockets 1000% following Binance listing<\/strong><\/h2>\n<p>Shortly after the strategic investment was announced, the AUDIO token also received a listing on the crypto exchange, which further fueled the rally that was shaping up.<\/p>\n<p>Ultimately, this led the token to surge well over 1000 percent before its momentum began stalling, and large buyers began taking profits off the table.<\/p>\n<p>At the time of writing, the Audius platform\u2019s token is trading up over 900% at its current price of $0.44.<\/p>\n<p>The crypto now has a $9 million market cap. It may not see too much further growth until the platform shows more signs of gaining widespread utilization amongst artists and listeners.<\/p>\n<p>In 2019, it received some negative coverage, with <a href=\"https:\/\/www.theverge.com\/2019\/10\/9\/20905384\/audius-blockchain-music-streaming-service-copyright-infringement-piracy\">The Verge releasing a report<\/a> on Audius, calling it a \u201ccopyright nightmare\u201d full of pirated material.<\/p>\n<p>It remains unclear whether this will prove to be a lasting problem for the platform.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the DeFi market\u2019s momentum continues stagnating, return hungry crypto investors have been flocking to presales and new token listings to try to garner massive profits in a short amount of time. However, this has resulted in massive losses due to the frequency of so-called \u201crug pulls\u201d resulting in investors losing 100% of what they [&hellip;]<\/p>\n","protected":false},"author":174,"featured_media":174587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>This newly launched crypto token just pumped 1000% following Binance listing<\/title>\n<meta name=\"description\" content=\"Today, however, a relatively unknown crypto token called Audius (AUDIO) launched and saw massive gains following receipt of a Binance listing\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/this-newly-launched-crypto-token-just-pumped-1000-following-binance-listing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"This newly launched crypto token just pumped 1000% following Binance listing\" \/>\n<meta property=\"og:description\" content=\"Today, however, a relatively unknown crypto token called Audius (AUDIO) launched and saw massive gains following receipt of a Binance listing\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/this-newly-launched-crypto-token-just-pumped-1000-following-binance-listing\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-24T05:00:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-24T11:31:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/images.unsplash.com\/photo-1587687747420-b45f676dca73?ixlib=rb-1.2.1&ixid=eyJhcHBfaWQiOjE2ODU3Mn0&fm=jpg&q=85&fit=crop&w=2560&h=1707\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Cole Petersen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cole Petersen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/this-newly-launched-crypto-token-just-pumped-1000-following-binance-listing\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/this-newly-launched-crypto-token-just-pumped-1000-following-binance-listing\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/cole-petersen\/#person\",\"name\":\"Cole Petersen\",\"url\":\"https:\/\/cryptoslate.com\/author\/cole-petersen\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/cole-petersen\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/cole-petersen\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/11\/author-cole-petersen.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/11\/author-cole-petersen.jpg\",\"caption\":\"Cole Petersen\"},\"jobTitle\":\"Journalist\",\"description\":\"Cole is a freelance journalist and university student studying philosophy. 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