Altcoin soars 200% after listing announcement on Binance

Altcoin soars 200% after listing announcement on Binance

Binance, the world’s largest cryptocurrency exchange, has announced that it will list VELODROME, from Velodrome Finance. Thus, the decentralized exchange (DEX) token will be added to its spot trading catalog.

In addition, Binance also announced the listing and airdrop of the altcoin Vana (VANA), which will be added to its launch pool.

VELODROME to be listed on Binance

According to the statement, the VELODROME token will be listed for spot trading on Binance this Friday (13), starting at 14:00 UTC. Velodrome Finance stands out for being a next-generation DEX that acts as a liquidity center for the Superchain ecosystem.

Initially, the token will be available for trading in the pair against USDT. In fact, the new listing will have zero fees, which means that traders can execute trades without incurring any charges.

Altcoin soars 200% after listing announcement on Binance

In addition, Binance will place a seed token for the token. This practice is commonly used by the exchange to alert users of the platform that the new token may suffer from high volatility.

Trading Bots and Spot Copy Trading functions will be enabled for VELODROME just 24 hours after the listing.

As a result of the listing announcement, the price of the token soared by more than 200%.

Another new project is launched in partnership with Binance Launchpool

Following the controversial airdrop of the L2 Scroll token, yet another long-awaited project will launch its token in partnership with Binance.

Thus, the exchange also announced the launch of the Vana (VANA) project through Launchpool. According to the announcement, Binance users are now able to lock their BNB and FDUSD to receive the VANA airdrop.

In addition to the token airdrop, the exchange will also list the token on December 16th.

“Binance will list VANA at 2024-12-16 10:00 (UTC) and open trading with VANA/USDT, VANA/BNB, VANA/FDUSD and VANA/TRY trading pairs. The Seed Tag will be applied to VANA,” the exchange said.

Like the VELODROME token, VANA jumped after the announcement. However, the appreciation was “only” 70%.

Disclaimer
The information provided in this article is for informational purposes only and reflects the author’s opinion. It should not be construed as financial, legal, or investment advice. The cryptocurrency market is volatile and carries risks. Please conduct your own research before making any decisions.

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