MITH soars after Mithril announces it will be the first project on Binance Chain

Fresh off Binance's announcement it had successfully deployed the genesis block of Binance Chain earlier today, CEO Changpeng "CZ" Zhao announced Mithril (MITH) will be the first project to migrate tokens onto the exchange's new native chain.

Mithril is a decentralized social media platform that rewards content creators in its token MITH. The announcement follows yesterday's report by The Block's Frank Chaparro that Binance is attempting to lure projects away from Ethereum and onto Binance Chain.

A blog post from Mithril said migration will begin shortly after the mainnet launch today. "By migrating to the Binance Chain, MITH token holders will be the first to experience the speed, security, and user friendliness on the new Binance DEX platform while maintaining full control over their own funds," according to the post.

By last count, data from Messari shows MITH as the number one mover on the day, up more than 66% so far.