Binance has announced its expanded support for the token swap of Ethernity Chain, rebranding it as Epic Chain (EPIC). Following the announcement, the price of ERN soared by 30%.
Binance Sparks Market Buzz with Token Swap Support
On Friday, leading cryptocurrency exchange Binance made waves in the broader market by unveiling its plan to support the token swap of Ethernity Chain and its rebranding. This latest market move from the crypto giant has propelled the price of ERN, the native token of the AI-powered Ethereum Layer 2 platform, by nearly 30%.
Binance Announces Support for Ethernity Chain Token Swap – What Traders Need to Know
In an official statement released on February 28, Binance confirmed that it would facilitate the transition of Ethernity Chain into Epic Chain (EPIC) by supporting the ERN token swap and rebranding.
Here are the key details traders should be aware of:
- All existing ERN spot trading pairs will be delisted on March 10 at 03:00 UTC. Additionally, Binance will cancel all pending spot trade orders for these pairs.
- Trading for the new EPIC/USDT pair will commence on March 13 at 08:00 UTC.
- Deposits and withdrawals for ERN tokens will be suspended starting March 10 at 03:30 UTC. Meanwhile, deposits for EPIC tokens will open on March 13 at 07:00 UTC.
- Binance will issue a separate announcement once withdrawals for the newly rebranded token are available. After the token swap event is completed, Ethernity Chain tokens will no longer be supported.
The exchange clarified that all ERN tokens will be swapped for EPIC at a 1:1 ratio. Additionally, Binance’s spot trading bots and copy trading services will also be affected accordingly.
