Decentralized exchange (DEX) native tokens built on Avalanche have skyrocketed in price after being listed on crypto giant Binance.
In a new announcement, Binance states that the native governance tokens of trader Joe (JOE), an automated market maker DEX, will be available for trading.
The news sent the price of altcoin vertically, rising 20% from $ 2.20 to $ 2.65 almost instantly. The JOE peak was $ 2.67, but at the time of writing it has been revised to $ 2.31.
JOE has been running incredibly since August when tokens were valued at less than $ 0.10. The overall crypto market experienced a roller coaster of price volatility during the fall month, but JOE has continued to rise more than 20 times since it began to rise.
In addition to the TraderJoe exchange, the project also features BankerJoe, a lending protocol that implements Avalanche’s capabilities and the Decentralized Finance Compound (COMP) protocol.
JOE token holders can bet on project governance, provide liquidity and vote.
According to Binance, JOE will be available for Bitcoin (BTC), Binance USD (BUSD) and USDT trading pairs.
Layer 1 smart contract platform Avalanche has also continued to win in a row over the past two weeks, with native token AVAX rising 59.85% from $ 79.71 on December 14th to $ 127.42 last week.
It has since been modified and is now trading at $ 108.38.
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Featured images: Shutterstock / solarseven / Natalia Siiatovskaia