IMCoin, an innovative new kind of token known as a Hybridcoin, has broken new ground as it continues to surpass investor speculations. After a surge in user numbers from countries worldwide, IMCoin submitted a listing request to various crypto exchanges in a bid to maintain their success. This bid has found an answer with Binance’s recent approval of the listing of the Hybridcoin.
IMCoin is the world’s first Hybridcoin. The revolutionary coin was announced on Binance, combining two disparate aspects of cryptocurrency coin, the stability of stablecoins and preserving the profitability of a utility coin. These combined features would allow users of IMCoin to enjoy the benefits of both types of coin. This new type of coin, an Hybridcoin, ends the constant debate on Bitcoin’s ability to function as both a stablecoin and a utility coin.
A stablecoin is a cryptocurrency that pegs its market value to an external asset, often the US dollar or gold. Stablecoins achieve price stability by collateralizing or Backing, using the algorithmic mechanisms involved in trading reference assets or their derivatives. A Utility token, by indirect comparison, is a fungible and tradeable asset native to a particular blockchain. Because crypto companies often use utility tokens to fund their startup and launches, they have high volatility and present the canny investor with opportunities for enormous profit when traded.
Since its commencement, the coin has performed remarkably well on the market, surprising already optimistic investors with a 4% monthly profit. IMCoin also ended its ICO at $2.15 a token, with the sale of 20 million tokens and a market cap of over $50 million, a significant achievement for the crypto coin. After its successful ICO, the company showed dedication to its 2021 roadmap and unrolled planned developments supporting its Binance listing.
The first 1 million IMCoin becomes available on Binance DEX, the largest decentralized exchange globally, trading at $3, and as a BEP8 token, the price remains subject to the backend of IMCoin. Then stage two, where 10 million IMCoin is to be made available in BINANCE DEX BEP2. IMCoin expects an opening price of $3.90, the increase in price benefit holders of the BEP8 IMCoin. Finally, IMCoin shall be made available on Binance’s central exchange or CEX. Price estimates are about $5, with a reserve fund of about $200 million, the benefits of the price increase shall go to investors who bought BEP2 and BEP8 IMCoin tokens in the previous stages.
The IMCoin or IMC has an underlying asset supporting its value, similar to Tether’s USDT coin. Each IMC maintains a value in US dollars, so the value is paid to a publicly audited trading account whenever it is sold. Unlike Tether, however, IMC’s underlying asset is traded and invested in various markets to raise the asset’s value and raise the backend of the IMC token, positively affecting its price and earning money for holders of IMCoin. IMCoin’s token model is sure to change the market. A stablecoin that can serve utility functions has long been the holy grail of crypto developers. Several crypto platforms have attempted to build a Hybridcoin following IMCoin’s model, and few have been genuinely successful. In the face of possible alternatives like XinFin and Dragonchain, also Hybridcoins, IMCoin has continued to take giant strides along its development roadmap.
Angelina is a writer and active crypto enthusiast. She mainly write about fintech and the blockchain industry. For several years now, She have been following developments in the crypto space and researching and publishing my analyses in media.