Crypto Exchange Binance Lists Hot Ethereum Altcoin Project Pendle
• Binance recently announced the listing of Pendle (PENDLE) in their Innovation Zone.
• Pendle is a tokenized decentralized finance (DeFi) yield-trading protocol that enables investors to purchase assets at a discount and access an asset’s future yield for trading and hedging.
• After Binance announced the listing of Pendle, the token shot up to a 2023 high of $1.21 since trading at $0.42 a month ago.
Crypto Exchange Binance Lists Hot Ethereum Altcoin Project
Binance, the world’s largest crypto exchange by volume, recently announced the listing of Pendle (PENDLE) in their Innovation Zone. The platform allows for spot trading pairs with Bitcoin (BTC), PENDLE/BTC, Tether (USDT), PENDLE/USDT, and TrueUSD (TUSD), PENDLE/TUSD. Binance’s Innovation Zone is a dedicated trading space for crypto assets that could be more prone to rapid price swings.
What Is Pendle?
Pendle is a tokenized decentralized finance (DeFi) yield-trading protocol that enables investors to purchase assets at a discount and access an asset’s future yield for trading and hedging. According to its website , Pendle is offering ETH at a 6.09% discount at time of writing and liquidity pools promising up to 42% upon maturity.
Price Surge After Listing On Binance
After Binance announced the listing of Pendle, the token shot up to a 2023 high of $1.21 from its original price of $0.42 one month prior – resulting in over 110% growth this month alone! At time of writing, it has dropped back slightly to $0.87 but still shows good performance overall with 7.2% drops during last 24 hours only .
Conclusion
The launch on Binance’s Innovation Zone appears to have had positive impact on Pendles performance as it continues its upward trend since June 2021 when it was first launched into DeFi market with potential worth over $400 trillion notional value accessible now by everyone through DeFi protocols like this one!
Disclaimer
Opinions expressed in this article should not be taken as investment advice; investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets!