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.
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.
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