Velodrome Finance (VELO) Altcoin Skyrockets Following New Binance Listing

Decentralized finance (DeFi) altcoin Velodrome Finance (VELO) is skyrocketing following a new listing from the world's largest crypto exchange by trading volume.

Binance recently announced the addition of decentralized finance (DeFi) altcoin Velodrome Finance (VELO) to the world’s largest crypto exchange by trading volume.

Following the news, the price of VELO has skyrocketed, showing a nearly 90% surge in its value within 24 hours. At the time of writing, VELO is trading at around $0.292, displaying a significant increase compared to its starting price of the day.

According to Binance's announcement, VELO will be joining Binance Simple Earn, 'Buy Crypto', Binance Convert, Binance Margin, Binance Auto-Invest, and Binance Futures on specific dates.

Binance’s Simple Earn will be listing the VELO Flexible Products for subscription on December 15th. Afterward, Binance users will be able to purchase VELO on Monday, December 16th.

Velodrome Finance is a decentralized exchange (DEX) for trading and liquidity, built on Optimism (OP), a prominent Ethereum (ETH) layer-2 blockchain. The DEX is designed to be fully EVM-compatible, thanks to the underlying layer-2 blockchain.

Velodrome has also inspired a popular fork on Base, called Aerodrome Finance, in which Coinbase has been making substantial investments.

As reported by Wu Blockchain, Coinbase's recent six-figure venture deals, which rarely exceeded $1 million in the past, have now culminated in the largest-ever investment on a liquid token (>$20 million).

This move by Coinbase has sparked speculation and excitement among crypto enthusiasts, who are closely following the promising developments in the DeFi space.