Velodrome Finance VELO Token Jumps 113% After Binance Listing
Velodrome Finance (VELO), a decentralized exchange (DEX) token, experienced a 113% increase in value following its listing on Binance, allowing trading against Tether (USDT).
This listing marks a significant milestone for Velodrome, designated as the liquidity hub for the Superchain. It enhances exposure and interest in the VELO token within the growing ecosystem.
Binance Listing Brings Key Upgrades for Velodrome Traders
On December 13, Binance announced the listing of Velodrome Finance, introducing the VELODROME/USDT trading pair with deposits open prior to trading starting at 14:00 UTC. Withdrawals will commence on December 14 at the same time.
To address potential risks and volatility, Binance applied a "Seed Tag" to VELO. Traders must complete a risk-awareness quiz every 90 days. Additionally, advanced trading features, including trading bots and spot copy trading, will be available within the first 24 hours post-listing.
These initiatives aim to enhance user trading experiences while boosting accessibility and liquidity for Velodrome Finance, essential for its growth in the decentralized finance (DeFi) sector.
VELO Price Surge Mirrors KOMA’s Success
The Binance announcement led to a 113% price increase for VELO, now trading at $0.3243, with a 273% rise over the past month and a 527% increase since the start of the year.
VELO's market capitalization stands at $285 million, with a 24-hour trading volume surging nearly 3,500% to $227 million.
This performance parallels that of KOMA, which rose 170% after its Binance affiliation, highlighting Binance's significant influence on market visibility and trading activity.