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A low-cap altcoin built on the Stellar (XLM) blockchain is rallying after receiving surprise support from Binance.

in a new announcementThe global crypto exchange says privacy-focused MobileCoin (MOB) will start trading on its platform.

According to the project website,

“MobileCoin is a security-focused cryptocurrency that addresses four core issues: security, transaction speed, power consumption, and optimization for mobile devices.”

MobileCoin specializes in payments via messaging apps, where only the sender and receiver have access to the data of each transaction. A desktop version is also available.

The project bills itself as “a simple, encrypted utility currency, like PayPal but secure.”

Binance List News Sent MobileCoin surging higher in two separate peaks, rising 101% from $3.62 to a high of $7.29 before correcting sharply.

MOB is still up 24.4% at the time of writing and trading at $4.42.

Nexo (NEXO) is also getting the nod from Binance, whose lending and borrowing platform allows users to earn up to 17% annual interest.

According to the project websiteNexo has over four million users in over 200 jurisdictions and currently holds over $12 billion in assets under management (AUM).

Binance says of NEXO,

“Nexo is a blockchain-based lending protocol that offers banking services to retail users [such as] lend, borrow, negotiate [and] credit card.

The NEXO token is used for governance and platform benefits, as well as to receive interest payments.

At the time of writing, Nexo is up nearly 6% and trading at $2.39. The altcoin initially jumped 23% from $2.21 to $2.72, before correcting to $2.29.

Binance says MOB and NEXO will be available for trading in the Bitcoin (BTC), BinanceUSD (BUSD) and Attached (USDT) trading pairs.

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

Featured Image: Shutterstock/Natalia Siiatovskaia/Mia Stendal

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