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

Airdrop & Listing

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

ali00901/03/20231 Mins read374

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

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

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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.

Source

www.coindesk.com

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ali009

The author is 28 year old student recently graduated from Celal Bayar University, Faculty of Medicine. Currently he works as a writer and translator for different platforms.