As many coins battle with market recovery, there are those focused in the future and working on their infrastructure. SkyCoin (SKY) is among the coins that are making a comeback in style. Many critics had written off the coin until it got a nod of getting listed on Binance.
Since getting listed on Binance, SKY has been making steady growth despite its 9million SKY coins in circulation. SkyCoin is now on its way to take the market by storm and has line up several events that will see increased adoption. Binance is a global brand that the coin is using to gain popularity and traction in the coming months.
SkyCoin (SKY) Celebrating Binance Listing in Style
The blockchain outfit has set aside 50,000 SKY coins and 10 Sky miner Units that as a participant you stand a chance of winning. The competition is open to all SkyCoin fans across the globe and kicks off June 7 at midnight to June 14 at midnight (UTC). This is a unique competition where you gains as well as Binance and SkyCoin.
The competition mechanism is very simple; all you need is to have an account at Binance and stock it up with SKY. To enhance your winning chances, you need to either keep buying or selling using the SKY pair since the highest volume movers will get rewarded. The volumes will be assessed in terms of buys and sells.
Making the announcement, any trader using BNB as their trading fee will automatically get and discount 50% off.
Below is the competition breakdown made available to us through Binance support team:
Trading Competition: a total of 20,000 SKY to win!
1st: 3,000 SKY
2nd: 2,000 SKY
3rd: 1,000 SKY
5th-10th: evenly split 4,000 SKY
11th-20th: evenly split 4,000 SKY
21st-50th: evenly split 6,000 SKY
Lucky Draw: 30,000 SKY + 10 Skyminers to win!
Users with SKY trading volume (including both buys and sells) of at least 200 SKY will be put into the following Lucky Draws:
One very lucky Binancian will receive 3,000 SKY!
50 lucky Binancians evenly split 8,000 SKY (160 SKY each)
190 lucky Binancians evenly split 19,000 SKY (100 SKY each)
10 Binancians each receive a Skyminer unit.
What is a Skyminer Unit?
Simply put, a SkyCoin Skyminer is a simple tool that provides you with computing power ,networking and storage that is required to ensure the Skywire network functions seamlessly. These work like nodes and VPNs making allowing you to have a dedicated ISP; these tools act as the backbone for Skywire.
The system works like our local intranet though decentralized and gives you an access point whilst acting as a “miner”. As a Skyminer user, you pay for your bandwidth using Coin Hours as a reward. You can have several of these units as they only work as the link between the networks to other resources in the ecosystem and are not mining tools.
To sum it up:
Skyminers are low cost, silent, and use energy efficient hardware that truly makes them affordable to purchase and run.
This is a simple tool that does not need you to be tech savvy. Soon, you will be able to access a plug and play Skyminer from SkyCoin as part of their quest to make their tools user-friendly.
SkyCoin (SKY) Price Peek Preview
Ranked 69 by market cap, SkyCoin (SKY) has a total circulating supply of 9,000,000 SKY and the competition is a choice route to market between Binance and SkyCoin with the goal of increasing adoption and growing the trading volumes. This will also help in its goal to disrupt the World Wide Web.
Sky is currently trading at $23.67 with a good run against the dollar of 6.45%. Over the last 24 hours the coin has pulled a surprise gains against BTC of 3.88%. This appears like it is headed for a breakout which should send it to a high of $35 by close of the year. This is also the right time to start staking on the coin and get a pie of the sleeping giant.