Lorenzo Protocol (BANK) Soars After Binance Announces Perpetual Futures Support

Lorenzo Protocol (BANK), a decentralized finance (DeFi)-focused platform built on the Bitcoin (BTC) network, has seen a significant price surge

DeFi platform Lorenzo Protocol (BANK) has seen its token price surge following Binance’s announcement to list perpetual futures contracts for the altcoin.

Lorenzo Protocol Brings Bitcoin Liquidity to DeFi

Lorenzo Protocol is a decentralized finance (DeFi)-focused platform built on the Bitcoin (BTC) network. The platform aims to address the growing demand for Bitcoin liquidity in decentralized finance (DeFi) and Layer-2 ecosystems.

Its goal is to provide a way for users to stake Bitcoin and obtain staked liquid tokens that they can utilize across various DeFi platforms. According to the official website, Lorenzo Protocol serves as the “Bitcoin Liquidity Finance Layer.”

Serving as a hub, Lorenzo Protocol offers a solution for Bitcoin holders to invest their unused liquidity and gain yield through DeFi protocols.

Binance to List BANK Futures

On Tuesday, April 18th, Binance, the world’s largest crypto exchange by trading volume, announced its support for perpetual futures contracts for Lorenzo Protocol’s (BANK) token. The news comes as BANK officially launches on BNB Chain today.

Binance Futures will list futures trading pairs for BANK against Tether (USDT), offering traders the possibility of using leverage of up to 50x.

This listing provides a new avenue for traders to speculate on the future price of BANK.

The platform’s inclusion on Binance Futures has sent waves of excitement through the crypto market, prompting a sharp rise in BANK’s value.

On its launch day, BANK experienced a remarkable spike, climbing from a low of $0.03 to a high of $056 within a few short hours.

This surge follows an earlier report by Alphractal, a crypto market intelligence firm, highlighting the strong correlation between Bitcoin and altcoins in the current market.

As Bitcoin continues to gain global adoption, there is an increasing demand for its liquidity, particularly in Layer-2 solutions, DeFi platforms, and trading.

Lorenzo Protocol positions itself as the premier DeFi ecosystem for Bitcoin staking tokens, aiming to provide users with the best opportunities to finance their Bitcoin liquidity.

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