Mithril (MITH) Price Spikes 60%; Gains Social Media App and Trust Wallet Addition

Mithril (MITH) jumped 60% in value leading into Sunday, helped by a 400% increase to trade volumes and the arrival of a couple of pieces of strong fundamental news.

MITH tokens will soon be compatible with the Binance-owned Trust wallet, and was also recently added to the GDAC exchange, were trading began this week.

Meanwhile, Mithril just gained one of its first use-cases with the release of the Yeemos social media app. The app is still in beta stage, but users can already be rewarded with MITH tokens for their activity on the mobile app.

Mithril on Yeemos

According to a recent announcement by the Mithril team:

“Mithril is pleased to announce the new anonymous social platform “Yeemos” has launched a Beta version on iOS and Android!”

MITH tokens will be rewarded to users based on the ‘value of their posts and interactions’, according to the Mithril website. The project focuses on ‘social mining’, similar to other blockchain social media apps like Steemit, BitTube, etc.

Mithril can already be ‘socially mined’ on the Lit application, which has been released for some time. The addition of Yeemos marks an expansion for the ERC-20 token. According to the latest update:

“Inspired by the word “emotion”, the platform itself revolves around “Snap Emotions” for users to express themselves and share their feelings. Users can share photos, videos wherever and whenever they wish to. Not just that, Yeemos’s exclusive stickers and mascot will soon be available for users to help to make interaction more personal.

MITH Added to Trust & GDAC

The token was added to the GDAC exchange earlier this week, according to a community update. GDAC is a Korean exchange, and processed just under $30 million worth of trades on moving into Monday, although no MITH data has filtered through at this time.

Another useful announcement for Mithril came in the form of its addition to the Trust wallet. The cryptocurrency wallet began as a low-key, secure mobile app just under a year ago, and was soon snapped up by the Binance team as they sought to extend the reach of their ecosystem.

The token is expected to be officially added to the wallet this week.

Mithril Price – MITH/USD

From the twenty-four hour low of $0.096505, the value of MITH climbed up to $0.155108 – a 60% spike which peaked at around 04:00 UTC.

Since then momentum cooled on the surge and the token price reverted to the $0.12 range – marking around 30% net growth for the day thus far.

Trade volumes rose 400% overnight, climbing from $6 million to $30 million. Almost half of all the action came from Bithumb’s MITH/KRW pair, and Binance’s MITH/BTC pair made up the bulk of the rest.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.