Binance Invested, Altcoin Price Suddenly Skyrocketed!

Binance, the world's largest cryptocurrency exchange, invested in another altcoin project.

According to the statement made today, Binance's $10 billion investment arm invested in the high-performance Layer 2 project Aevo.

Using OP Stack, Aevo allows users to trade perpetual futures and options contracts with a single margin account.

Ribbon Finance, which is also backed by Paradigm, Dragonfly and Coinbase Ventures, had entered the process of rebranding as Aevo after the RGP-33 bill was approved.

Aevo, which has achieved a total derivative volume of more than $80 billion since its founding, has collected more than $30 million in transaction fees and has approximately 50 thousand monthly active users.

Aevo will develop new yield products and staking services as part of the roadmap.

According to TradingView data, AEVO price started to rise rapidly after Binance's investment news and increased by 6% in a short time.