Liquity token price takes a ride after Binance listing

Liquity (LQTY/USD) has surged by more than 110% today after news of being listed in Binance’s innovation zone.

At press time, the LQTY token was trading at $2.75, up 110.04%. The token is trading at a 10-month high as its trading volume surged by 733 % in the last 24 hours.

Listing on Binance

Binance has been in the limelight for the wrong reasons in the recent past, especially since the fall of FTX, which most investors still believe Binance had a hand in. The exchange is currently embroiled in a saga with the US Securities and Exchange Commission (SEC) for its Binance USD (BUSD/USD) stablecoin.

The most recent is the news making rounds about Binance moving $1.8B of customer funds in a move similar to FTX.

Nevertheless, Biannce is still the largest cryptocurrency exchange by trading volume and listing on the exchange means a lot for any cryptocurrency and that is the main reason why Liquity’s token price is skyrocketing.

Interestingly, LQTY also surged by more than 45% earlier this month after the NYSDFS ordered Paxos Trust to stop issuing Binance USD stablecoin.

LQTY’s Bitcoin (BTC) and tether (USDT) trading pairs will go live on Binance at 11:00 UTC on February 28 alongside a USDT derivative pair.

According to DeFiLlama, the Liquity protocol currently has more than $596 million in total value locked (TVL).