Pendle (PENDLE) experiences a significant surge in price following Binance’s announcement that it will list the token in its Innovation Zone on July 3, 2023.
Pendle Finance is a yield-trading protocol that separates yield-bearing assets into principal and yield components, with PENDLE as its utility token for liquidity incentives, governance, and fee value accrual.
Trading in the Innovation Zone typically involves higher risk and volatility; traders are encouraged to exercise due diligence and apply prudent risk management strategies when dealing with PENDLE.
Pendle (PENDLE), an emerging cryptocurrency in the DeFi sector, has experienced an astronomical surge in price, following the announcement by Binance. As per the recent Tradingview chart, PENDLE’s price rocketed to new heights, marking a significant increase in a short span.
PENDLE volume as of 24 hours is 21.87M, with a market cap of 225.94M at the time of writing. The token experienced a surge of 25% following Binance & Kukoin announcement of including it on the platform.
Binance’s Innovation Zone is known for listing innovative and promising cryptocurrencies that possess the potential to revolutionize the financial landscape. The listing is scheduled to go live at 10:00 (UTC) on July 3, 2023, and will include the following spot trading pairs: PENDLE/BTC, PENDLE/USDT, and PENDLE/TUSD.
Moreover, KuCoin, another leading cryptocurrency exchanges, has jubilantly announced the listing of another remarkable project, Pendle (PENDLE), on its Spot trading platform.
For Binance, users will be able to enjoy zero maker fees on the PENDLE/TUSD trading pair. Deposits are already open, and withdrawals will commence at 10:00 (UTC) on July 4, 2023. But, what exactly is Pendle (PENDLE)?
Pendle Finance operates as a yield-trading protocol that ingeniously splits yield-bearing assets into two distinct components: principal and yield. By doing so, it empowers users to gain fixed or flexible yields through an optimized strategy. PENDLE, the native utility token of Pendle Finance, serves multiple purposes including liquidity incentives, governance, and fee value accrual.
It’s important to note that tokens in Binance’s Innovation Zone tend to have higher volatility and inherently carry higher risks. PENDLE, being a relatively new token, is expected to exhibit high price volatility.
Therefore, traders and investors are encouraged to exercise due diligence and to employ robust risk management strategies. However, it is important to remember that Pendle’s inclusion in Binance’s Innovation Zone is a testament to its potential and innovative approach to yield trading.
It signifies a noteworthy endorsement, especially considering Binance’s stringent criteria for token listings. Market participants are eagerly watching to see how Pendle performs in the coming days and what this means for the broader DeFi space.
Rida Sarwar, a seasoned journalist with a knack for the new-age financial landscape. With 5+ years under her belt, Rida has an extensive background in Crypto, Fintech, and Blockchain journalism. Her analytical skills, coupled with her passion for decrypting complex tech phenomena, make her a reliable source for insightful, well-researched narratives. Guiding the uninitiated through the maze of the digital finance world, one article at a time. 📚💻🌐🚀