Altcoin
Velodrome Finance (VELO) Skyrockets 170% On Binance Spot Listing
Velodrome Finance (VELODROME) has witnessed a remarkable 170% surge following its listing on Binance. The decentralized exchange (DEX) token, which has gained significant attention in recent weeks, will now be available for trading against USDT on the platform. As the liquidity hub for the Superchain, Its listing marks a crucial milestone in its growing ecosystem, increasing visibility and investor interest.
Binance Listing Boosts Velodrome’s Visibility and Market Potential
On December 13, Binance unveiled its decision to feature Velodrome Finance, a decentralized exchange (DEX) known for its role as the liquidity hub for the Superchain. This pivotal step aims to improve accessibility for traders and investors while driving deeper engagement within the platform’s ecosystem.
The platform introduces a new spot trading pair, VELODROME/USDT, with deposits open ahead of trading. Trading will go live at 14:00 (UTC), and withdrawals will begin on December 14 at 14:00 (UTC). This initiative is expected to boost liquidity and increase visibility for the DEX’s growing decentralized finance (DeFi) operations.
The exchange has also applied a Seed Tag to the token, signifying its innovative potential but higher associated risks and volatility. To trade such tokens, users must pass a risk-awareness quiz every 90 days. Additionally, within 24 hours, advanced trading features such as bots and spot copy trading will be enabled. As a result, users will have access to enhanced tools that ensure a seamless trading experience.
Velodrome Finance continues to establish itself as a major player in decentralized finance, delivering scalable and efficient liquidity solutions. With its inclusion on Binance, the platform is set to attract significant attention, boosting its adoption and strengthening its foothold in the competitive DeFi market.
Price Rallies Amid Binance’s Latest Move
VELO price saw massive increase, currently trading at $0.39 following Binance’s decision to support the token. This marks a remarkable 365% surge over the past month and an impressive 500% rise year-to-date, signaling strong investor interest. With a market cap of $357 million and $42 million in 24-hour trading volume, its recent performance reflects growing confidence in its utility and ecosystem.
The price surge echoes the performance of KOMA, which experienced a 136% increase after receiving support from Binance. This highlights the exchange’s ability to boost a token’s visibility and trading activity. It also drives significant interest from the broader crypto community.
The exchange backing provides Velodrome Finance with enhanced liquidity and accessibility, crucial factors for sustaining its current bullish momentum. As the token gains more interest, its market presence will likely grow. This will further strengthen its position in the crypto ecosystem.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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