Decentralized exchange Serum recently listed its SRM token on major exchanges. SRM price surged from $0.11 to over $1 in just a few seconds after Binance listing. Serum’s IEO sold the SRM token for $0.11 and raised $660,000. Serum, a decentralized exchange (DEX), recently got its native token SRM listed on major exchanges such as Binance, BitMax and Uniswap. Just a few seconds after listing on Binance, the token price shot up from $0.11 to over $1 (a surge of 1,029%). Serum is a non-custodial DEX that will enable cross-chain trading. The project is a collaboration between FTX, a decentralized derivatives platform and the Solana blockchain platform. Sam Bankman-Fried, the CEO of Serum, said that the DeFi exchange will handle its first trade this week. Serum’s brief IEO on the FTX exchange sold the SRM token for $0.11 and raised $660,000. Approximately 10 billion SRM tokens were minted as the maximum supply. However, the initial circulating supply is 181 million tokens. Bankman-Fried said that although Serum is operational, it is not yet a “full product.” The team is still connecting GUIs, APIs, and wallets. In other words, customers will have to use the platform through a command-line interface for now. The platform will soon receive a standard, easy-to-use web interface. Serum claims to be the first fully decentralized derivatives DEX and aims to be more decentralized than its competitors. It plans to do so by offering cross-chain swaps without a central party and introduce its own native stablecoin without central backing. SRM/USDT daily chart On Binance, SRM/USDT bulls have remained in control for three straight days. During this period, SRM/USDT has gone up from 0.1158 to 1.768 SRM/USDT hourly chart It looks like buyers and sellers are playing a game of tag for control over the SRM/USDT hourly market. Currently, the price has dropped below the pennant formation. Strong resistance levels lie at 1.758 and 1.8206. On the downside, we have healthy support at 1.6546 and 1.31. The relative strength index (RSI )is trending around the neutral zone. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/CAD hits 6-month low as hopes of US stimulus deal fade FX Street 2 years Decentralized exchange Serum recently listed its SRM token on major exchanges. SRM price surged from $0.11 to over $1 in just a few seconds after Binance listing. Serum’s IEO sold the SRM token for $0.11 and raised $660,000. Serum, a decentralized exchange (DEX), recently got its native token SRM listed on major exchanges such as Binance, BitMax and Uniswap. Just a few seconds after listing on Binance, the token price shot up from $0.11 to over $1 (a surge of 1,029%). Serum is a non-custodial DEX that will enable cross-chain trading. The project is a collaboration between FTX, a decentralized… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.