The world’s largest crypto exchange by trading volume Binancehas added support for a decentralized finance (DeFi) protocol built on Ethereum.
In a new post on Twitter, Binance announced that Alchemix (ALCX) has been added to its popular exchange platform.
“Dear Binance users,
Binance will list Alchemix (ALCX) and open trading for ALCX/BTC, ALCX/BUSD and ALCX/USDT trading pairs at 2021-11-30 06:00 (UTC).
#Binance will list @alchemixfi $ALCXhttps://t.co/ohVQELLLZag
— Binance (@binance) November 30, 2021
ALCX is an automated yield-farming, lending, borrowing and staking protocol that uses tokenized yield funds to repay debts, and is the native governance and staking token of Alchemix, a decentralized finance (DeFi) platform. Users can open collateralized loans that are automatically closed using the yield generated by the collateral.
ALCX is a cryptocurrency that can be staked and earned in liquidity pools and also gives its holders a vote in the management of Alchemix’s decentralized autonomous organization (DAO).
Alchemix Finance’s 52,000 Twitter followers were among the first to learn of the Binance listing news of Alchemix Finance, a relatively little-known platform.
👀🧙♂️ https://t.co/ih5aSyI5va
— Alchemix (@AlchemixFi) November 30, 2021
ALCX, which started the day around $376, surged 18 percent after Binance’s announcement and rose to $444.08, the highest level in the last 24 hours. The ALCX has since corrected and is now up 3.6 percent from the previous day. 392.78 traded in dollars.
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