The price of a native token of a decentralized exchange (DEX) built on Avalanche has soared after it was surprisingly listed on crypto giant Binance.
Binance, an automated market maker DEX, announced in an announcement yesterday. TraderJoe’s (JOE) He said that the local government token will now be available for trading.
Recent #Binance listing: $JOE@traderjoe_xyz is a decentralized exchange (DEX) on Avalanche. It also provides lending and borrowing services through BankerJoe.
Learn more 👇https://t.co/FHHlFwD8uE
— Binance (@binance) December 28, 2021
The news moved the altcoin’s price vertically, with naltcoin climbing 20 percent from $2.20 to $2.65 almost instantly. Rising as high as $2.67, JOE failed to hold high due to the downtrend dominating the rest of the market. The altcoin, which has undergone a significant correction since then, fell as low as $2.28 at the time of writing, according to CoinGecko data.
JOE has been advancing at an incredible pace since August when the token was valued at less than $0.10. Although the overall crypto market experienced a roller coaster of price fluctuations during the autumn months, JOE has continued to move forward since it started bullish, and has seen an increase of over 20 times.
In addition to the TraderJoe exchange, the project includes features of Avalanche and decentralized finance. Compound (COMP) The lending protocol that implements (lending) the protocol includes BankerJoe.
JOE token holders can stake, provide liquidity and vote on project governance.
According to Binance’s statement, JOE will be available in Bitcoin (BTC), Binance USD (BUSD) and USDT trading pairs.
Tier-1 smart contract platform where the platform is built on the blockchain Avalanche local token for the past two weeks. AVAXIt saw the coin rise nearly 60 percent from its December 14 level of $79.71, and last week the altcoin had a good week, surging to $127.42.
Following the market’s downtrend since then, the cryptocurrency has undergone a major correction and is currently trading at $106.78.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.