One of the most promising cryptocurrencies has rocketed, outpacing Elon Musk’s frenzy DOGE/USD rally, following news of the signing of a new partnership contract for the coin issuer.
During these moments of trading, today, Tuesday, XCN/USD Shine surged more than 40% to surpass the gains of billionaire Elon Musk’s favorite coin, which is witnessing record heights following the implementation of the Twitter stock acquisition deal.
Shine’s coin rallied following disclosure of the signing of a new partnership contract between FTX-sponsored Heat and Shine, jumping from $0.04774 to $0.06653.
During a week’s trading, the Shine currency rose by 20%, while it fell by 13% during October trading and by 22% within two months, while it fell by 30% within nine months.
Shine is the 42nd largest cryptocurrency by market capitalization, with a market capitalization of around 1.35 billion pounds, and the best cryptocurrency exchanges for trading in Shine stocks are currently MEXC, XT.COM, Bybit, BingX, and Bitrue.
According to the news, FTX-sponsored Heat has teamed up with Shine as the team’s “Official Web3 and Blockchain Infrastructure Partner”.
Shine Infrastructure has entered into an undisclosed advertising and promotional partnership with the Miami Heat team, becoming the “Official Partner for Web3 and Blockchain Infrastructure.”
According to a joint press release with Decrypt, Shane and the Miami Heat intend to collaborate with the ambition of “bridging the gap between the sports industry and Web3 technology” for the fans of the two brands.
The engagement will also see the addition of the Shine logo to the Miami Heat shooting jersey, while Shine CEO Deepak Thapelal plans to engage with the local community of Heat fans through programming events, as well as digital content across social platforms.
“As part of this newly formed partnership, we want to engage the South Florida communities and Miami Heat fans to help expand the Shine brand while continuing to tell the story of blockchain technology,” said Deepak Thapelal.
Shine, which was acquired by Lightyear, the commercial arm of the Stellar Development Foundation, in 2018, declined to disclose any information regarding the amount of money or the contract term of this agreement with Decrypt.
According to the released company data, it is a blockchain cloud infrastructure that enables organizations to build better financial services from the ground up.
With Chain Core, organizations can launch and operate a blockchain network, or connect to a growing list of other networks that are changing how assets move around the world.
Founded in 2014, Chain has raised more than $40 million in funding from Khosla Ventures, RRE Ventures and strategic partners including Capital One, Citigroup, Fiserv, Nasdaq, Orange and Visa.
Chen previously participated in and worked on building blockchain networks for Visa, Nasdaq, State Street, Citibank, and more.
The article does not express a recommendation or nomination, but merely a monitoring of market fluctuations, as trading in digital currencies involves high risks, including the risk of losing some or all of the investment amount, knowing that it is not completely subject to the authorities and markets.