As an experienced crypto investor with a knack for identifying promising projects, I must admit that the sudden surge of Velodrome Finance (VELO) on Binance has piqued my interest. Having witnessed numerous listings on various exchanges, I can confidently say that a 170% jump in value is not something to overlook.
After being added to Binance, Velodrome Finance (VELO) experienced a significant surge in value by approximately 170%. This decentralized exchange token is well-known as a key component of the Superchain ecosystem’s liquidity and is now open for trading on this popular platform.
Today, Binance made an official announcement and has now included the trading pair of VELODROME/USDT. Users can deposit the token prior to its launch, with trading and withdrawals becoming available starting 14:00 UTC tomorrow.
As an analyst, I can express this by saying: “By including this token in our listing, I believe it will simplify investments for our clients and enhance liquidity within Velodrome’s platform. However, I would like to emphasize that Binance has tagged the token as ‘Seed,’ which serves as a reminder of its inherent risks and volatility.
A Binance representative commented that including Velodrome in their listings enhances their market influence and broadens opportunities for increased adoption within the Decentralized Finance (DeFi) sector.
Moreover, we’re adding extra trade functionalities such as automated trading bots and spot copy trading, set to become accessible within the next 24 hours. This enhancement aims to provide users with improved trading opportunities.
After being listed, VELO’s price surged to $0.39, representing a significant increase of 365% over the past month and an impressive 500% growth this year. The token’s current market value stands at approximately $226 million, with a trading volume of around $493 million within the last 24 hours. At present, VELO is being traded at about $0.25.
Additionally, there was a notable surge of 36% in curiosity about the Velodrome Futures market straightaway following the announcement, as indicated by statistics from Coinglass.
Binance plans to combine Velodrome Finance with several offerings such as Simple Earn, Convert, and Futures. This integration is part of their strategy. Moreover, they’ve introduced a USD-M VELO perpetual contract that provides up to 75 times the leverage.
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2024-12-13 22:28