Listing on Binance Innovation Zone sees a near doubling in token price for Harvest Finance and Alpaca Finance.
Binance Innovation Zone Offers Momentum
Harvest Finance and Alpaca Finance have experienced a marked price reaction to news of their Binance Innovation Zone listing.
The announcement was made via Binance’s official webpage, where initial news of the move broke on the 11th of August, 05:30 AM UTC. The innovation zone is a place for Binance to list relatively new and higher risk tokens.
“Ever since we listed $ALPACA back in April, it has increased in value by a total of 1545%,” These were the words of centralised exchange MEXC Global on Twitter, in noting Alpaca Finance’s recent listing. “Congrats to the holders of $ALPACA and congrats to @AlpacaFinance for the listing next on @Binance!”
The relevant trading pairs, that opened August 11th, 08:00 AM UTC for Harvest Finance (FARM) and Alpaca Finance (ALPACA), are as follows:
FARM/BTC, FARM/BNB, FARM/BUSD, FARM/USDT, ALPACA/BTC, ALPACA/BNB, ALPACA/BUSD and ALPACA/USDT.
Token Reaction
Alpaca and Harvest Finance certainly did react to the Binance Innovation Zone listing.
The $ALPACA token saw a sharp move from the mid $0.90 mark to over $1.70 the following day, according to CoinMarketCap. Similarly, Harvest Finance’s $FARM also jumped from just over $200 to $419 over the same period, according to CoinMarketCap.
The price of each token has since consolidated, and this perhaps underlines the dangerous volatility of new higher-risk tokens. The initial reaction does, however, highlight the exciting effect that the Binance Innovation Zone can indeed have.
What is Alpaca Finance ($ALPACA)?
As described by the Binance team, Alpaca Finance is a lending protocol that allows for yield farming on Binance Smart Chain. Any borrowed asset on Alpaca Finance must be used within its platform for leveraged yield farming. The native platform token, ALPACA, is used for performance fee sharing, earning rewards, network governance, and exclusive NFT access.
Where to Find Alpaca Finance:
What is Harvest Finance (FARM)?
Harvest Finance differs slightly from its co-listee, Alpaca. It is a yield aggregator platform that maximizes yield for assets deposited into Harvest vaults throughout the DeFi ecosystem. The native platform token, FARM, is similarly used for network governance, distributing profits generated to liquidity providers and rewarding users who have been taking the token.
Find Harvest at these links:
Source : bsc.news
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