Binance will list Liquity’s token. LQTY rate jumps by 59%
Trading in pairs with BTC and USDT will open on February 28 at 11:00 UTC
28.02.2023 - 09:30
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What’s new? Crypto exchange Binance will list the Liquity (LQTY) token in the platform’s Innovation Zone and will open trading in pairs with BTC and USDT stablecoin on February 28 at 11:00 UTC. Following this news, the LQTY rate jumped by 59,34% from $1,23 to $1,96. Coin withdrawals will be available on March 1 at 11:00 UTC. In addition, within 48 hours of the listing, Binance will add LQTY as a new leveraged asset for a margin pair with USDT. As of 09:15 UTC, the value of the token was corrected to $1,8.
Information on the Binance website
What else does the website say? Binance noted that LQTY, as a relatively new token, may be subject to high volatility. The exchange’s team advised customers to make sure they have sufficient risk management and do their own research on the characteristics of the project to understand it before deciding to start trading.
What is known about the Innovation Zone? It allows trading new tokens, which, compared to other assets, have more volatility and, as a consequence, carry higher risks. In order to trade in this designated zone, users need to fill out an application for assuming all risks (“Initial Disclaimer”). In addition, no restrictions are imposed on trading pairs in this zone.
What is known about Liquity? It is a decentralized lending platform built on the Ethereum blockchain. Liquity accepts ETH as collateral and provides Liquity USD (LUSD), a stablecoin pegged to the US dollar. LQTY is the platform’s utility token. According to the project’s website, Liquity has $598,66 million in total value locked (TVL).
After listing on Binance, the assets have appreciated by an average of 41%, according to analysts. Thus, the token of the Aptos blockchain platform immediately after the opening of trading rose by 10 000%, MAGIC gained 75%, SYN — 71%, GNS — 67,74%, and RPL — 24%.
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