HOOK Starts Trading On Binance, Price Up By +2000%

Hooked Protocol governance token HOOK, started trading on Binance today. There is access to four trading pairs of HOOK Coin on the platform: HOOK/BTC, HOOK/USDT, HOOK/BUSD, and HOOK/BNB.

Binance is the world’s largest cryptocurrency platform which has an investors section for the new and upcoming blockchains. The new blockchains are highly sensitive and prone to price fluctuations in the crypto market. HOOK was listed on Binance Launchpad via investors section.

The aim of Hooked Protocol is to provide a platform based on play to earn and other gamified concepts.

HOOK Price makes a 20x jump, time to buy?

Within a few hours of trading, HOOK price reached 2 USD which is a 20x increase from the original token price. While the HOOK tokens are used for play to earn games and gas payments, the Hooked Gold Token (HGT) is used for crypto incentives.

The Hooked Protocol was launched following the Launchpad pattern, which was launched by Binance on November 24, this year. A total of 25,000,000 HOOK tokens (5% of the total supply) have been reserved for the Launchpad at a HOOK token sale price of 0.0003381 BNB (roughly $0.1 USD at current market rates). In total, over 110,000 participants pledged over 9,000,000 BNB during the Launchpad subscription period.

As per crypto analyst Muro, this ongoing small dip in HOOK Coin may be a good buying opportunity. He shared his analysis on twitter,

$HOOK up 10% from the dip entry I posted. There’s no chart on Tradingview yet so I made a graphic. If that low at 2.28 holds, I would target $ 3.48 – 3.60 next. Otherwise, I would stop below there for a 5% loss.

Apart from Binance, Hooked protocol also wen tlive on Hotbit and MEXC Exchange platforms today.

What is Hooked Protocol?

Hooked Protocol builds a community social network with an on-chain tokenomics design. Users can learn, earn and enjoy a gamified experience, all within the Hooked ecosystem. The Hooked Protocol will initially run on the BNB chain and later expand to Layer 1 networks.

Hooked Protocol usability is defined by three key 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. Additionally, key user behaviors will be assigned to a specific on-chain identity, allowing ecosystem players to optimize resource allocation and community throughput.

Shourya is a crypto fanatic who has developed interest in Business Journalism in the past few years. Currently, working as a writer with Coingape, Shourya is also an avid reader. Apart from writing, you can find her attending poetry shows, exploring cafes and watching cricket. As she says, “dogs are my home,” her first rescue of a dog was at the age of 7! She has constantly been speaking up for mental health and the rainbow pride.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.