Avalanche-based altcoin jumps after surprising support from Crypto Exchange Binance
The native token for a decentralized exchange (DEX), which is based on Avalanche, has risen in price after being listed on the crypto giant Binance.
In a new announcement, Binance says the native governance token from TraderJoe (JOE), a DEX automated market maker, will now be available for trading.
The news caused the price of the altcoin to rise vertically, increasing almost instantly by 20% from $ 2.20 to $ 2.65. JOE hit up to $ 2.67 but has corrected itself back to $ 2.31 at the time of writing.
JOE has had an incredible run since August when the token was valued at under $ 0.10. While the entire crypto markets took a roller coaster ride in price volatility in the fall months, JOE has risen 20 times since it began its rise.
In addition to the TraderJoe exchange, the project also offers the BankerJoe credit protocol, the functions of Avalanche and the decentralized finance Compound (COMP)-Protocol.
JOE token holders can participate, provide liquidity and vote on project management.
Binance says JOE in trading pairs Bitcoin (BTC), Binance USD (BUSD) and USDT Will be available.
Layer-1 smart contract platform Avalanche has also been on a winning streak for the past two weeks, with the native AVAX token rising 59.85% from $ 79.71 on Dec. 14 to as high as $ 127.42 last week is.
It has since been corrected and is currently trading at $ 108.38.
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Source: Crypto News Deutsch