Velodrome Finance (VELO) Takes Off Following Surprise Binance Listing

Decentralized finance (DeFi) altcoin Velodrome Finance (VELO) is skyrocketing following a brand new itemizing from the world’s largest crypto trade by buying and selling quantity.

Earlier right this moment, Binance announced the addition of VELO to the crypto trade.

“Binance is worked up to announce that Velodrome Finance (VELODROME) can be added to Binance Easy Earn, ‘Purchase Crypto’, Binance Convert, Binance Margin, Binance Auto-Make investments, and Binance Futures on the respective dates and timings listed under.”

Based on the announcement, Binance’s Easy Earn will checklist VELO Versatile Merchandise for subscription right this moment. Binance customers will be capable of buy VELO on Monday, December sixteenth.

VELO has virtually doubled in worth within the final 24 hours. The DeFi token is up 90.3% on the day at time of writing, at present going for $0.292.

Velodrome is a buying and selling and liquidity decentralized trade (DEX) market constructed on Optimism (OP), a number one Ethereum (ETH) layer-2 blockchain, making it Ethereum Digital Machine (EVM)-compatible. Based on CoinGecko, Velodrome is at present the highest DEX by 24-hour buying and selling quantity.

Velodrome has additionally spawned a preferred fork on Base referred to as Aerodrome Finance, by which Coinbase has been closely investing.

“Coinbase Ventures traditionally do six-figure enterprise offers and rarely went past $1 million investments till lately. And now we’ve got the largest-ever funding made on a liquid token (>$20 million) purchased from the open market like each different market participant. Take into consideration why they’re so bullish and nonetheless shopping for extra.”

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