• Binance recently announced the listing of Pendle (PENDLE) in their Innovation Zone.
• Pendle is a tokenized decentralized finance (DeFi) yield-trading protocol that enables investors to purchase assets at a discount and access an asset’s future yield for trading and hedging.
• After Binance announced the listing of Pendle, the token shot up to a 2023 high of $1.21.
Binance Lists Hot Ethereum Altcoin Project
Binance, the world’s largest crypto exchange by volume, recently announced the listing of Pendle (PENDLE) in their Innovation Zone. Pendle is a tokenized decentralized finance (DeFi) yield-trading protocol that enables investors to purchase assets at a discount and access an asset’s future yield for trading and hedging. Spot trading pairs with Bitcoin (BTC), PENDLE/BTC, Tether (USDT), PENDLE/USDT, and TrueUSD (TUSD), PENDLE/TUSD are available on Binance’s Innovation Zone which is dedicated to crypto assets that could be more prone to rapid price swings.
What is Pendle?
Pendle was initially launched in June 2021 as a yield derivative protocol aiming to bring traditional finance interest derivative market into DeFi, making it accessible for everyone by creating a yield market in DeFi. It unlocks full potential of yields enabling users to execute advanced strategies such as investing ETH at 6.09% discount at time of writing and liquidity pools promising up 42% upon maturity according its website .
Price Action After Listing
After Binance announced the listing of Pendle, the token shot up to its highest 2023 level at $1.21 but currently is trading for $0.87 after 7.2% decrease during last 24 hours from its previous day level although still providing more than 100% gains since it was traded at $0.42 one month ago..
Key Takeaways
The article discusses how Binance listed hot Ethereum altcoin project called ‘Pendle’ in their Innovation Zone which allows spot trading pairs with Bitcoin, Tether and TrueUSD on their platform along with discussing what is ‘Pendle’ about i:e it being tokenized decentralized finance (DeFi) yield-trading protocol that enables users to invest ETH at 6.09% discount and also liquidity pools promising up 42% upon maturity thus unlocking full potential of yields enabling users execute advanced strategies as well as discussing price action after its listing where it saw rise reaching up till $1.21 before going back down slightly later .
Disclaimer
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