Stablecoin Lender Liquity's Token Soars 35% on Binance Listing

Stablecoin Lender Liquity’s Token Soars 35% on Binance Listing

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Stablecoin lender Liquity’s native token, LQTY, surged 35% on Tuesday after listing on cryptocurrency exchange Binance’s innovation zone.

Stablecoin Lender Liquity’s Token Soars 35% on Binance Listing

At the time of writing, LQTY was trading at a 10-month high of $1.82, according to CoinMarketCap, while trading volume surged 382%. The token surged 45% earlier this month after the New York State Department of Financial Services ordered Paxos to stop issuing the centralized dollar-pegged cryptocurrency BUSD.

Stablecoin Lender Liquity's Token Soars 35% on Binance Listing

Liquity is an Ethereum-based protocol that offers interest-free loans in the form of the LUSD stablecoin for users who deposit ether (ETH). According to DefiLlama, the protocol has $596 million in total value locked.

According to Binance’s website, Binance’s Innovation Zone is where users can trade new tokens that may have higher volatility and risk than other tokens.

Source

www.coindesk.com

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