Stablecoin Holders See Gains After Liquity Token Listing on Binance
LQTY, the token from stablecoin lender Liquity, saw a surge of 35% when it was listed on Binance's Innovation Zone. Trading volume rose by 382%, reaching a 10-month high of $1.82.
Liquity is an Ethereum-based protocol that offers users interest-free loans in the form of the LUSD stablecoin for depositing ether (ETH). The protocol currently has $596 million in total value locked.
Binance's Innovation Zone is a special venue where users can trade tokens that may have higher volatility and risk than other tokens.
The Liquity token saw an increase of 45% earlier this month after the New York State Department of Financial Services ordered Paxos to stop minting its centralized dollar-pegged cryptocurrency BUSD.
Bitcoin (BTC) and tether (USDT) trading pairs went live on Binance at 11:00 UTC on Tuesday along with a USDT derivative pair.
- LQTY surged 35% on Binance Innovation Zone listing
- Liquity offers interest-free loans for deposits of Ether
- LQTY rose 45% earlier this month after BUSD order
- BTC and USDT trading pairs live on Binance
The Liquity token, LQTY, saw a surge of 35% after being listed on Binance's Innovation Zone. The protocol offers interest-free loans in the form of the LUSD stablecoin. The listing of BTC and USDT trading pairs went live on Binance earlier today.