{"id":306717,"date":"2024-05-21T22:23:04","date_gmt":"2024-05-21T16:53:04","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=306717"},"modified":"2024-05-21T22:23:04","modified_gmt":"2024-05-21T16:53:04","slug":"aevo-price-soars-over-10-as-binance-discloses-key-investment-is-1-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/aevo-price-soars-over-10-as-binance-discloses-key-investment-is-1-next-crypto-news\/","title":{"rendered":"Aevo Price Soars Over 10% As Binance Discloses Key Investment, Is $1 Next? – Crypto News"},"content":{"rendered":"

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Binance Labs, the venture capital arm of the world\u2019s largest crypto exchange Binance<\/a>, on Tuesday unveiled investment in high-performance Layer 2 decentralized exchange Aevo. As a result, AEVO price skyrocketed over 10% in the last 24 hours, with a major boost in price and trading volumes coming after the announcement.<\/p>\n

Binance Labs Reveals Investment in Crypto Derivatives DEX Aevo<\/h2>\n

In an official blog on May 21, Binance Labs<\/a> said it has invested in Aevo, a crypto derivatives decentralized exchange (DEX) built on the OP Stack.<\/p>\n

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It offers perpetual trading, pre-launch futures, and options through a single margin account. Aevo on-chain settlement happens on Ethereum and uses Celestia as a high-throughput DA layer for scalability. Aevo is a rebrand of Ribbon Finance and is backed by crypto leaders such as Paradigm, Dragonfly, Pantera Capital<\/a>, and Coinbase Ventures.<\/p>\n

DAO committees will roll out initiatives for incentives, token liquidity, and community growth to bring more users and liquidity to the platform. Aevo also plans to launch vault strategies, yield products, and Aevo staking in the future. In addition, it will allow permissionless dApps deployment on Aevo L2 to leverage its growing user base and unique features.<\/p>\n

\u201cYear-to-date, Aevo has done more than $80 billion in derivatives volume and generated over $30m in fees with an average of around 50,000 monthly active users (MAU) on the platform,\u201d said Binance Labs.<\/p>\n

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Also Read: Nvidia Slips After The Opening Bell As Amazon Halts Superchip Orders<\/a><\/strong><\/p>\n

Aevo Price Jumps 10%<\/h2>\n

Traders reacted immediately to the announcement and Aevo price jumped 10% in the past 24 hours. The price is currently trading at $0.897, with a 24-hour low and high of $0.8203 and $0.935, respectively. Furthermore, the trading volume has increased by 150% in the last 24 hours, indicating a rise in interest among traders.<\/p>\n

Total AEVO futures open interest jumped more than 7% in last 4 hours, with a further rise in trading in the past hour. Aevo futures OI climbed nearly 14% on crypto exchange Binance in the last four hours. Traders are almost balanced on both the sell and buy sides, suggesting possibilities of pullback.<\/p>\n

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However, Aevo token unlock event has finished and whales are likely to buy it once again. It will further push AEVO price upwards.<\/p>\n

Also Read: Ripple SEC Lawsuit: SEC Opposes Sealing Details, \u201cRipple Will Largely Lose the Motion\u201d<\/a><\/strong><\/p>\n

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Binance Labs, the venture capital arm of the world\u2019s largest crypto exchange Binance, on Tuesday unveiled investment in high-performance Layer 2 decentralized exchange Aevo. As a result, AEVO price skyrocketed over 10% in the last 24 hours, with a major boost in price and trading volumes coming after the announcement. Binance Labs Reveals Investment in […]<\/p>\n","protected":false},"author":2,"featured_media":265489,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-306717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/306717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=306717"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/306717\/revisions"}],"predecessor-version":[{"id":306719,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/306717\/revisions\/306719"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/265489"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=306717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=306717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=306717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}