Binance’s actions caused a little-known cryptocurrency to grow by 104%

The rate of the little-known Liquity token increased by 104% in a day after the announcement of its listing on Binance. The value of the asset increased from $ 1.42 to $ 2.67. The world’s largest cryptocurrency exchange opened spot trading in LQTY/BTC and LQTY/USDT pairs today, February 28.

According to Binance experts, LQTY is a relatively new token, so it will be traded in the Innovation Zone of the exchange. This is a special trading area that features new tokens that are likely to have higher volatility and pose a greater risk than other digital assets.

Liquity is a decentralized lending protocol that accepts Ethereum as collateral and provides loans in LUSD stablecoins. Liquity tokens are traded on such major exchanges as MEXC, Huobi, Coinbase, Bitget, CoinEx, and Binance as of today. LQTY’s market capitalization is $ 235 million, with a daily trading volume of $ 103 million.

Liquity is not the only cryptocurrency that has shown growth after the announcement of its listing on Binance. In October last year, the value of the Aptos token (APT) increased by 10,000% in the first minutes after listing on the exchange. At that time, the value of APT increased from $ 1 to $ 100 when paired with the Tether stablecoin (USDT), but shortly afterwards, the price dropped to $ 7−8.