A low-cap altcoin is up after the world’s prime crypto trade platform by quantity introduced the itemizing of perpetual futures for it.
In a brand new announcement, Binance says it would launch assist for Bitcoin (BTC) decentralized finance (DeFi)-focused platform Lorenzo Protocol (BANK) to Binance Futures.
Binance’s announcement got here on the identical day as BANK’s official launch on the BNB Chain.
Information of the addition despatched BANK flying because the digital asset went from a low of $0.03 on April 18th – its launch day – to a peak of $0.057 just some hours later. The token has since retraced and is buying and selling for $0.044 at time of writing, a 13% decline over the past 24 hours. BANK is a low-cap altcoin with a market cap of $18.85 million.
In response to Binance, BANK/Tether (USDT) perpetual contracts with as much as 50x leverage can be found as of April 18th.
On its official web site, Lorenzo Protocol says it permits customers to stake Bitcoin to acquire staked liquid tokens, which might then be used on DeFi platforms.
“Lorenzo is the Bitcoin Liquidity Finance Layer. With the worldwide adoption of Bitcoin rising, there’s a considerably increased demand for Bitcoin liquidity, by methods of Layer-2s, DeFi, buying and selling, and so on., and platforms are promising yield in trade for Bitcoin liquidity…
Lorenzo creates an environment friendly market during which Bitcoin holders can simply discover the very best alternatives to take a position their unused Bitcoin liquidity and serves because the premier DeFi ecosystem during which to finance Bitcoin staking tokens.”
Observe us on X, Facebook and Telegram
Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Test Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Every day Hodl are usually not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any losses you might incur are your duty. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in affiliate internet marketing.
Generated Picture: Midjourney
