A low-cap altcoin is up after the world’s prime crypto change platform by quantity introduced the itemizing of perpetual futures for it.
In a brand new announcement, Binance says it should launch help 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.
Based on 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 forth., and platforms are promising yield in change for Bitcoin liquidity…
Lorenzo creates an environment friendly market by which Bitcoin holders can simply discover the perfect alternatives to take a position their unused Bitcoin liquidity and serves because the premier DeFi ecosystem by which to finance Bitcoin staking tokens.”
Observe us on X, Fb and Telegram
Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Verify Worth Motion
Surf The Day by day Hodl Combine
 
Disclaimer: Opinions expressed at The Day by day Hodl are usually not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual threat, and any losses you might incur are your duty. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Day by day Hodl an funding advisor. Please observe that The Day by day Hodl participates in internet affiliate marketing.
Generated Picture: Midjourney
