- Binance, the world’s largest cryptocurrency exchange, recently listed Pendle (PENDLE) in its Innovation Zone, causing a massive 50%+ surge in PENDLE’s price.
- The listing not only enhanced Pendle’s visibility but also opened new avenues for yield trading enthusiasts looking for innovative investment opportunities.
Binance, globally recognized as the leading cryptocurrency exchange, has recently widened its Innovation Zone by listing Pendle (PENDLE). This addition instigated an over 50% price rise for the PENDLE token, forging new paths for investors interested in unique yield-trading possibilities.
Pendle’s New Playground: Binance’s Innovation Zone
In a recent announcement, Binance declared that Pendle (PENDLE) has been introduced into its Innovation Zone, with trading opening on July 3, 2023, at 10:00 (UTC). The spot trading pairs for PENDLE now encompass PENDLE/BTC, PENDLE/USDT, and PENDLE/TUSD.
For an additional advantage, users trading the PENDLE/TUSD pair will experience zero maker fees until further communication. Furthermore, Binance disclosed plans to add PENDLE as a new borrowable asset on Isolated Margin, within 48 hours from the trading opening time.
Binance Launchpool also witnessed the debut of Pendle, giving users the opportunity to stake their BNB and TUSD to farm PENDLE tokens for a span of 25 days.
Alongside the listing news, CoinGecko, a renowned cryptocurrency data platform, spotlighted Pendle’s stellar Q2 2023 performance. PENDLE outshone other notable cryptos, with a jaw-dropping price surge of 125%, compared to BCH’s 104% and TOMI’s 100%.
Currently, Pendle trades at $1.19, signifying an impressive 24-hour increase of 30.09%. The trading volume for PENDLE has also witnessed a meteoric rise of 602.69%, reaching $23,511,128.
Pendle is an innovative yield-trading protocol that allows users to segregate a yield-bearing asset into its principal and yield constituents. This feature empowers users to earn fixed or flexible yields. The integration of Pendle into Binance’s Innovation Zone paves the way for unprecedented advancements in the yield-trading arena, particularly bolstering the PENDLE ecosystem’s growth.