ALT, new cryptocurrency listed on Binance, increases in value by more than 5000% in minutes

Altlayer ($ALT), a cryptocurrency listed on Binance on Thursday morning (25), reached a price of US$ 0.29 in the first few minutes after trading opened, resulting in a 5000% increase.

The digital asset was announced last week on Binance Launchpool, with the broker distributing 5% of the total supply of ALT tokens to users who staked. This translates into 500 million ALT tokens out of a total supply of 10 billion tokens.

According to the broker, 80% of these rewards were distributed to BNB stakers, while the FDUSD pool received 20% of the rewards. However, this does not necessarily mean that users earned more ALT by staking BNB instead of FDUSD. It all depends on the size of the stake value in relation to the size of the pool.

With the staking process over, users can now purchase AltLayer directly from the Binance trading page