As it is known that Binance is the largest cryptocurrency platform in the world that has an investor section for new and upcoming blockchains. The new blockchain is very sensitive and vulnerable to price fluctuations in the crypto market. Today, HOOK was listed on Binance Launchpad through the investor section.
The Hooked governance protocol token HOOK, began trading on Binance today. Users will have access to four HOOK Coin trading pairs on the platform namely HOOK/BTC, HOOK/USDT, HOOK/BUSD and HOOK/BNB.
Hooked Protocol's goal is to provide a reward-based platform in games and other game concepts.
Within a few hours of trading, the price of HOOK managed to reach 2 USD which is a 20x increase from the original token price. Although the HOOK token is used for 'play to earn' and transaction payments, the Hooked Gold token (HGT) is used for crypto incentives.
The Hooked protocol was launched according to the Launchpad process, which was launched by Binance on November 24 this year. A total of 25,000,000 HOOK tokens (5% of the total supply) were reserved for the Launchpad at a HOOK token sale price of 0.0003381 BNB (about $0.1 USD at the rate current market).
Waima so at the time of writing the price of HOOK has increased to the price level of $2.61. According to crypto analyst Muro, a small drop in HOOK Coin might be a good buying opportunity.
He added, if the support level of $2.28 can still be maintained, then he expects that this token can jump to $3.48 – 3.60 next. If not, he targets a 5% loss below the support level. In addition to Binance, the Hooked protocol is also traded on the Hotbit and MEXC Exchange platforms today.
Hooked Protocol builds a community social network with an on-chain tokenomics design. Users can learn, acquire and enjoy gaming experience in the Hooked ecosystem. The Hooked protocol will initially run on the BNB chain and later expand to the Layer 1 network.
The usability of the Hooked Protocol is defined by three main pillars: identification, engagement and assignment. The team integrates wallets and decentralized identifiers (DIDs) into the Hooked ecosystem, allowing users to automatically access their Web3 identities.
It also creates "engagement legos" around user acquisition and retention to help builders automate their community interactions. Developers of dApps can build applications on top of these "plug-in" blocks using a plug-and-play approach.
