The cryptocurrency market is generally trading in the red zone today, while the leading crypto Bitcoin is fluctuating around $100,000. The altcoin market is also currently in a consolidation process. However, some tokens are gaining value quickly due to the positive news they receive. Leading cryptocurrency exchange Binance announced that it will list a new altcoin with a “seed tag” and after this development, the token experienced an almost 3-fold increase.
Binance will list VELO and the token will take off!
crypto exchanges continue to update their listings. This time, a notable development is that Binance will list the Velodrome Finance (VELO) token. Binance will open the VELODROME/USDT spot trading pair on December 13, 2024 at 17:00 CET. The exchange made this statement:
"Dear Binance users, Binance will list Velodrome Finance (VELO) and open it for trading on December 13, 2024 at 17:00 UTC with the following spot pairs. New Spot Pair: VELODROME/USDT. Users can deposit VELODROME before trading. Withdrawals will open on December 14, 2024 at 17:00 UTC. Listing Fee: 0 BNB."
Following Binance’s listing announcement, VELO’s price rose sharply. The token skyrocketed from $0.1486 to $0.409. Although it subsequently saw a slight pullback, the price was still trading at high levels. At the time of writing, VELO was reportedly trading at $0.3387, up over 120% on a daily basis. The token’s trading volume also saw a phenomenal 1,381% increase, indicating increasing interest in the token from investors and traders.
Binance stated that it will use the “seed” tag for VELO. It also stated that withdrawal times are an estimated time and users can check the actual status of their withdrawals on the withdrawal page. The exchange also made the following statement for the new listing:
“Trading bots and Spot Copy Trading will be activated within 24 hours after listing on spot. Spot Copy Trade portfolios can be activated in the personal currency pair preferences section for working users.”
According to the official announcement, Binance will make some changes to the Binance Leverage platform starting from 18:00 on January 21, 2025, to improve the user’s leverage fund utilization rate. The initial and maintenance margin requirements of the full position leverage professional mode will be updated, and collateral levels and other parameters will be changed. Collateral reductions and unfilled order losses will now be included in these calculations.