MobileGO (MGO) Gains 100% in 4 Days on Positive News

[Magician]

Ethereum-based cryptocurrency MobileGO recently entered the list of top 100 coins by market capitalization, according to Coinmarketcap data. The MGO token, developed by the eSports gaming platform provider of the same name, gained over 100% since last Saturday, when it was trading at around $0.33. At 08:39 UTC on Wednesday, it was changing hands at $0.68, up by 16.3% for the day on the back of some bullish news.

On Monday, gaming company Xsolla announced that its platform would accept MGO for payments, while crypto exchange Bitfinex decided on Tuesday to list the asset.

Partnership with Xsolla

Xsolla offers a range of tools and solutions enabling game developers to launch, monetize, and expand their video games globally. The company said gamers can pay with MGO for more than 500 PC and mobile games provided by its partners. Moreover, developers will be able to get royalty payments in MGO based on a sliding scale percentage they pick.

Aleksandr Agapitov, founder and CEO of Xsolla, commented:

“MGO will accelerate transformative opportunities for our community. Game developers will now receive their royalty payouts much faster, and owners of MGO will soon be able to engage in peer-to-peer match play and organize decentralized gaming tournaments in a way never before possible.”

“MGO is essentially the Bitcoin of the gaming industry, the most trusted cryptocurrency that Xsolla is making available to more than half a billion gamers today,” he added.

Bitfinex listing

Another event pushing up the MGO price was the listing on Bitfinex. The token was added after a tight voting round on Ethfinex, the crypto platform focused on Ethereum-based tokens.

In May of this year, Ethfinex launched an open-source community voting application on Ethereum, enabling users to choose which tokens should be added to the exchange. The voting process is done through the Ethfinex Voting Token (EVT), allocated every two weeks to holders of NEC – the token fueling the Ethfinex platform. Thus, 14 Ethereum-based coins are put to the vote every two weeks, with the top three listed simultaneously on Ethfinex and Bitfinex. The MGO token ended up among the top three in the vote, so it can now be traded on both exchanges.

The MobileGo team commented:

“Let us elaborate on why this is extremely beneficial for the investors. First, the listing on such a reputable exchange gives a profound boost to MGO’s reputation. Not only it will make the token more popular, but it will also increase its trustworthiness and investment appeal for the current and would-be investors. Second, it will attract new traders, which in its turn will raise the token’s trading volume, contributing to its liquidity. Third, ending up in the top three ranking and winning the listing on BitFinex helps MGO earn much wider recognition in the crypto community, in addition to giving its supporters a sense of shared achievement.”

The team aims to make its token a universal currency for gamers around the world and support developers in expanding their business. Besides Bitfinex, MGO can also be traded on Gatecoin, Waves, HitBTC, and Cryptopia, among others.

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