HEMI Rallies More than 200% Ahead of Binance Listing – Crypto News – Crypto News
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HEMI Rallies More than 200% Ahead of Binance Listing HEMI Rallies More than 200% Ahead of Binance Listing

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HEMI Rallies More than 200% Ahead of Binance Listing – Crypto News

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8 months ago

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Following a quiet launch, the Bitcoin-based protocol’s token has exploded over the last week, culminating in a Binance listing today.

Bitcoin programmability layer Hemi launched its eponymous token at the end of August, and after a quiet start, HEMI has soared over the last two weeks.

HEMI is up 250% over the last week, and 52% today. The token currently changes hands at $0.135 per token, but reached as high as $0.175, or roughly a $1.7 billion fully diluted valuation (FDV) on the news of its Binance spot listing earlier this morning.

HEMI Chart – CoinGecko

“They [Binance] have a number of different products, not just the spot market listing, that HEMI is going to be connected to – Perps, Binance Alpha, Binance Booster, Binance Wallet – and so Binance really has an incredibly broad ecosystem…it gives HEMI a worldwide reach that is absolutely unparalleled,” said Hemi co-founder Jeff Garzik, who is known for his role as one of the early Bitcoin core contributors.

The network operates on its Hemi Virtual Machine (hVM), which is a Bitcoin node encapsulated within an Ethereum Virtual Machine (EVM), and aims to provide a new landscape for BTC DeFi applications.

While the network boasts a total value locked (TVL) of $1.2 billion, its DeFi TVL is $279 million, making it the second-largest Bitcoin sidechain by DeFi TVL, trailing only CORE with its $289 million.

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