Velodrome Finance Sees Significant Growth Following Binance Listing

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Decentralized finance (DeFi) altcoin Velodrome Finance experienced a remarkable increase in value after being listed by Binance. The inclusion of the VELO token on Binance’s platform captured the attention of traders.

Binance Listing Announcement

Binance announced that it would integrate Velodrome Finance’s VELO token across various services. The future of VELO on platforms such as Simple Earn, Buy Crypto, Convert, Margin, Auto-Invest, and Futures was highlighted.

Following the announcement, VELO’s value nearly doubled within 24 hours, surging to $0.24 with a 70% increase at the time of writing.

Coinbase’s Investments

Velodrome stands out as a decentralized exchange built on Optimism. It has also established a fork called Aerodrome Finance, which received significant investment from Coinbase.

“Coinbase Ventures historically engages in six-figure venture deals and recently invested over $20 million in a liquid token acquired from the market. Consider why they are so optimistic and what more they might purchase.”

With its Optimism-based structure, Velodrome Finance creates an ecosystem compatible with Ethereum . According to CoinGecko data, Velodrome currently ranks as the top DEX in terms of 24-hour trading volume.

The agreement with Binance is not only attracting investor interest but also impacting market dynamics. Binance users will have the opportunity to purchase VELO on the specified date.

VELO’s rapid rise may positively influence other DeFi projects in the market. The future of Velodrome and Aerodrome Finance remains a significant topic of curiosity among crypto investors.

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