TL;DR
- Binance listed two new tokens: VELO and VANA, causing a price increase for both, highlighting the platform’s influence in the crypto market.
- Velodrome is a high-liquidity DEX on the Optimism network, with a 103% price increase after the announcement, reaching a trading volume of around $405 million.
- Vana is an Ethereum-compatible Layer-1 blockchain token, offers staking to Binance users, and recently raised $25 million to expand its ecosystem.
Binance, the world’s largest cryptocurrency exchange, has caused a huge stir in the market with the inclusion of two new tokens: Velodrome Finance (VELO) and Vana (VANA). The announcement of these listings triggered a significant rise in the value of both assets, demonstrating the exchange’s influence on the market.
An Exceptional Day for VELO
Velodrome is a decentralized exchange (DEX) focused on managing large amounts of liquidity within the Optimism superchain ecosystem. Its token VELO has experienced a strong price surge. Since the announcement of its listing on Binance, the token’s value rose by 103%. While the initial increase was much higher, it recently dropped and stabilized around $0.31 per unit.
The DEX, which will be compatible with USDT for trading, aims to become a key player in blockchain networks that require efficient and high-performance liquidity infrastructure. Binance has also provided users with additional tools to enhance their experience, offering options such as trading bots and copy trading features, which could attract more investors looking to optimize their returns.
Furthermore, VELO’s trading volume surged to astronomical levels, increasing by nearly 6000% and surpassing $405 million. In terms of market capitalization, it followed the same trend as the token’s value, increasing by 104% and hovering around $275 million.
What is VANA?
Vana (VANA) is a token from an Ethereum-compatible Layer-1 blockchain, and it has also begun to attract attention from Binance users. Vana is the 62nd project launched through Binance Launchpool, meaning exchange users can obtain VANA tokens by staking BNB or FDUSD for a two-day period.
The total supply of VANA tokens is 120 million, with 30 million in initial circulation. Recently, Vana raised $25 million in a funding round led by major investors such as Coinbase Ventures and Polychain Capital. These funds will be used to strengthen the ecosystem and reward its community and developers.
Both projects stand out in the market for their innovation and growth potential, and their listing on Binance could be crucial to consolidating their presence. The inclusion of these tokens showcases how Binance continues to be a driving force in the development and popularization of new projects within the industry