MTL grew by 15 percent. What is the reason?

Token Metal (MTL) rose 15 percent on the background of the fact that one of the world’s largest cryptocurrency exchanges has announced the return of coins in the listing. The token was removed in January, and now Bitfinex trading platform resumed trading coin pairs with Bitcoin and Ethereum.

Prior to the publication of the statement Bitfinex token was worth $ 0.6, but after a few minutes after the message exchange rose to 0.68 dollar. For the high MTL traded at 84 cents, but at the time of this writing, fell by 20 cents.

Why is MTL?

Together with the growth rate of the MTL set a record in trading volume on October 12, with the token operations were carried out for a total amount of 13.3 million dollars. The largest platform for the coins was Upbit (6.9 million dollars), in second place — Binance. On it for 24 hours from MTL conducted a transaction 5.55 million dollars.

As noted by Cryptovest, immediately after the return of the coin in the listing Bitfinex became the third largest market — the volume of transactions on the trading platform exceeded 629,3 thousand dollars for the first hour and a half after the start of trading.

About the reasons of adding Metal in the listing manual Bitfinex is not reported. The same applies to arguments in favor of the decision to remove the token in the winter. The project developers also refused to comment. Perhaps the fact that the creators managed to modify the MTL to the extent that the token has ceased to meet the technical or legal requirements of stock exchanges, the publication suggests.

Now MTL is the 196th place in the world ranking CoinMarketCap. Market capitalization is $ 20.7 million.

Source: CoinMarketCap

It seems that the listing on the major exchanges — is still one of the main conditions for growth rate altcoins. However, developers are not always cheap. For example, in August it was reportedthat the listing of coins trading platform Binance requires 400 bitcoins or 2.47 million dollars at the time.


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