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Polymesh price trending after onboarding Binance as node operator

Polymesh
  • Polymesh Network yesterday announced that Binance has become a node operator.
  • The price of POLYX has been skyrocketing since the news broke.
  • At press time, POLYX was trading at $0.2493, up 15.82% in the last 24 hours.

Polymesh price has been surging since yesterday night after Polymesh Network announced that Binance had become a node operator on its layer 1 blockchain.

POLYX price surged to a daily high of $0.3013 a few hours after the announcement setting in place a Bull Run despite the fact that the token has since retraced to its current price.

What Binance becoming a node operator means

Binance is currently the world’s largest cryptocurrency exchange by trading volume. After becoming a Polymesh Network node operator, POLYX holders will be able to stake their tokens through Binance by the end of the week.

The exchange joins Polymesh’s 17 existing node operators.

As a node operator, Binance will help in running the Polymesh blockchain, certifying transactions before adding the new blocks on the blockchain. It will directly provide staking services to POLYX holders letting them reap rewards on their tokens.

Graeme Moore, the head of tokenization at Polymesh, in a press release on Thursday while announcing the partnership with Binance said:

“Onboarding Binance as the newest node operator provides Polymesh with a massive boost in visibility, credibility, and security.”

According to Polymesh’s leadership, the aim of Binance’s partnership is to advance Polymesh’s mission of making regulated asset trading more accessible to more clients.

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