ERN price soars 125% as Binance backs Ethernity Chain’s rebrand

Digital coins traded in the red on Friday as Bitcoin plunged beneath $80K.

However, Ethernity Chain defied trends, with its token exploding from $1.1799 to daily highs of $2.6504 - a 124.63% upswing.

Binance supercharged ERN’s price action with the latest announcement.

The trading platform will support the Ethernity Chain upcoming rebrand and token swap to Epic Chain (EPIC).

Binance supports Ethernity Chain revamp to Epic Chain

The leading crypto exchange by volume confirmed plans to support the upcoming Ethernity Chain’s rebrand and token swap to Epic Chain (EPIC).

According to the announcement:

The exchange will halt ERN/USDT trading on March 10 at 3:00 UTC and cancel all existing ERN spot orders.

Following a successful revamp, users will access the upgraded EPIC/USDT on March 13 at 8:00 UTC.

Meanwhile, Binance has promised technical assistance during the upgrade.

The platform will automate all requirements for the upgrade to ensure a smooth transition.

Impact on automated and margin trading offerings

Amidst the revamping process, Binance will suspend ERN from Isolated and cross-margin trading.

The exchange will halt margin borrowings for the asset by March 1 and close all existing positions on March 6.

Furthermore, the trading platform will remove bot services, including Copy Trading, on March 9.

Binance will force-sell any asset remaining on the automated services at market price and transfer the money to user Spot accounts.

Traders should modify their trading approaches before the mentioned date to avoid unpredicted losses.

Binance’s move underscores its dedication to ensuring a seamless rebranding process while safeguarding user interests.

Thus, the revelations triggered immense interest in the blockchain, fueling exponential gains for native ERN.

ERN explodes after Binance announcement

The alt jumped 124.63% from $1.1788 to $2.6504 as the leading exchange confirmed support for its upcoming upgrade.

ERN trades at $2.28 after declining from its daily peaks.

It signals continued upswings with dominant bullishness.

The over 1500% surge in 24-hour trading volume reflects significant buyer and trader interest.

The alt hovers well beyond the key 50-day and 200-day EMAs on the 4-hour chart, indicating robust bull momentum.

Also, the 1D Moving Average Convergence Divergence signals buyer comeback with solid green histograms.

The altcoin appears to have all it takes for more uptrends from current levels.

However, ERN’s exhibits extreme volatility, demanding caution.

Cryptocurrencies often retrace after sudden explosive gains before extending highs.

With bears dominating the crypto space, ERN will hardly retain its gains.

Enthusiasts can expect declines from current prices of $2.28 before ERN displays a decisive trajectory.