Velodrome Finance (VELODROME) Surges Over 200% on Binance Listing Announcement

by

As a seasoned analyst with years of experience in the crypto space, I must say that these recent moves by Binance are quite intriguing and potentially promising for investors. The listing of Velodrome Finance (VELODROME) and Vana (VANA) on Binance spot trading and Launchpool respectively, could signal a bullish trend for both projects.

In simple terms, the leading cryptocurrency exchange, Binance, has revealed intentions to include Velodrome Finance’s token (VELODROME) in their listings. This means that the token for the decentralized exchange (DEX) will now be available for spot trading on their platform.

Additionally, the platform will be incorporating VANA (VANA) into its Launchpool. The planned airdrop for this project remains underway.

Binance Lists VELODROME for Spot Trading

Velodrome Finance advertises as a next-generation DEX that serves as the liquidity hub for the superchain ecosystem. VELODROME token will be available for spot trading on Binance starting Friday, December 13, at 14:00 UTC.

The new asset will be exchanged using the USDT stablecoin. Notably, this Binance listing offers the advantage of zero fees, implying that traders can perform transactions without having to pay any costs.

Users have the opportunity to begin storing VELODROME now, in anticipation of trading within the next two hours. The option for withdrawal will become available on December 14, 2024 at 2:00 PM UTC.

As a crypto investor, I’m excited about the upcoming listing of VELODROME on this exchange, which has taken extra precautions by assigning a seed tag to differentiate it from other tokens in the market. This unique identifier will help ensure a smoother trading experience for all users. Moreover, within 24 hours after the listing, Trading Bots and Spot Copy Trading functions will be made available for VELODROME’s DEX token, allowing for increased flexibility and convenience when managing my investments.

In the immediate aftermath of this listing announcement, VELODROME’s price soared by over 200%.

Binance Names New Project on Its Launchpool

In a simultaneous statement, Binance unveiled the 62nd project on its Launchpool – Vana (VANA). This token is a native EVM-compatible Layer-1 (L1) blockchain designed for user-controlled data. As per the declaration, users can secure their BNB and FDUSD to receive VANA airdrops across a two-day period. Importantly, farming activities will commence on December 14, 2024, at 00:00 UTC.

As an analyst, I’m excited to share that I’ll be part of the process where VANA gets integrated into Binance Launchpool. Not only that, but starting December 16th, this token will also become accessible for trading directly on Binance.

On December 16, 2024 at 10:00 (UTC), Binance plans to add VANA to its platform and offer trading with several pairs such as VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY. Additionally, the Seed Tag will be assigned to VANA, according to the exchange’s announcement.

As an analyst, I’d rephrase it as follows: The total number of VANA tokens that can ever exist is capped at 120 million. At launch, token rewards distributed through Launchpool can amount to a maximum of 4.8 million VANA. When listed on Binance Spot, the initial circulating supply of VANA will be approximately 30,084,000 tokens, representing around 25.07% of the total maximum supply.

After this announcement was made, the value of the VANA token saw a significant increase of nearly 70%, which is a common response among tokens prior to being listed on well-known cryptocurrency exchanges.

Following the successful completion of a $25 million funding round led by Coinbase Ventures, Polychain Capital, and Paradigm, Vana is now preparing for an airdrop aimed at technologically adept individuals. This investment paves the way for this anticipated project development.

Read More

2024-12-13 14:27