Binance Boosts Ethernity Chain: ERN Price Surges 30%
1min read Binance, the world's largest cryptocurrency exchange, has announced its support for the Ethernity Chain token swap and rebranding, leading to a significant surge in the price of the native token ERN. The ETH Layer 2 platform with AI capabilities saw its ERN token price skyrocket by nearly 30% following the news.
In an official release, Binance revealed that it will support the revamping of the Ethernity Chain to Epic Chain (EPIC). As part of this process, all existing ERN spot trading pairs will be delisted on March 10 at 03:00 UTC, and all pending spot trading orders will be canceled. Trading for EPIC/USDT trading pairs will commence on March 13 at 08:00 UTC.
Deposits and withdrawals of ERN tokens will be suspended starting March 10 at 03:30 UTC, with deposits for EPIC tokens starting on March 13 at 07:00 UTC. Binance will make a separate announcement when withdrawals for the new rebranded token open. Ethernity Chain tokens will no longer be supported after the token swap event concludes.
All ERN tokens will be swapped to EPIC at a ratio of 1 ERN = 1 EPIC. Trading bot services and spot copy trading services on the platform will also be impacted accordingly. Additionally, ERN will be eliminated from Cross and Isolated Margin offerings on March 6 at 06:00 UTC, and Flexible Rates and VIP Loan services will be knocked off on the same day at 03:00 UTC. Simple Earn services and subscriptions will also be removed for the former token starting March 7 at 03:00 UTC.
Amid the enhanced market support from Binance, ERN price witnessed a 31% uptick in value, exchanging hands at $1.67. The coin hit a bottom and a peak of $1.18 and $1.80 in the past 24 hours. Traders reacted positively to the token swap and rebranding announcement, as signaled by a whopping 514% surge in the asset's intraday trading volume to $41.58 million.
The broader market sentiment surrounding the ETH Layer 2 platform with AI capabilities appears to 
