The VELO token from Velodrome Finance saw a dramatic increase in value following its listing on Binance.
Binance Announcement for VELO
Binance announced its plans to incorporate Velodrome Finance’s VELO token into services like Simple Earn, Buy Crypto, Convert, Margin, Auto-Invest, and Futures. This announcement led to VELO's value rising nearly 100% within 24 hours, reaching $0.24.
Coinbase's Interest in Velodrome
Velodrome, a decentralized exchange on Optimism, recently launched Aerodrome Finance, receiving substantial investment from Coinbase. Coinbase Ventures, known for its financial backing, has allocated over $20 million to this project, showing confidence in Velodrome's potential.
Market Implications and DeFi Benefits
The rapid rise in VELO's value is attracting significant attention and could have broader implications for the decentralized finance landscape. Ongoing developments with Velodrome and Aerodrome Finance continue to interest crypto enthusiasts.
The substantial VELO price increase underscores its potential and could signal new opportunities for investment in the DeFi space.
