As a seasoned crypto investor with a keen interest in decentralized finance (DeFi) and derivatives exchanges, I’m thrilled to see Binance Labs investing in Aevo, a high-performance Layer 2 decentralized exchange that offers perpetual trading, pre-launch futures, and options. This announcement has sent waves of excitement through the crypto community, resulting in a significant price surge for AEVO.
As a crypto investor, I’m excited to share that Binance Labs, the venture capital division of the leading cryptocurrency exchange Binance, announced their investment in high-performance Layer 2 decentralized exchange Aevo on Tuesday. Consequently, the price of AEVO surged by more than 10% within the last 24 hours, with a significant increase in value and trading volumes following the announcement.
Binance Labs Reveals Investment in Crypto Derivatives DEX Aevo
On May 21, Binance Labs announced its investment in Aevo, a decentralized crypto exchange specializing in derivatives, which is established on the OP Stack.
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, and Coinbase Ventures.
DAO committees will introduce programs for incentives, token liquidity, and community expansion to attract more users and liquidity to the platform. Furthermore, Aevo intends to debut vault strategies, income-generating products, and Aevo staking in the future. Additionally, it will facilitate the deployment of decentralized applications (dApps) without permission on Aevo Layer 2, enabling developers to utilize its expanding user base and distinctive characteristics.
As a crypto investor, I’d put it this way: “So far this year, Aevo has facilitated over $80 billion in derivatives trading volume and raked in over $30 million in fees. With an average of approximately 50,000 monthly active users, the platform is bustling with activity.”
Aevo Price Jumps 10%
As an analyst, I’ve noticed an instant response from traders following the recent announcement, resulting in a significant 10% surge in Aevo’s price within the past 24 hours. Currently, the price stands at $0.897. The price range over the last 24 hours has been between $0.8203 (the low) and $0.935 (the high). Moreover, there’s been a substantial increase of approximately 150% in trading volume during this period, which suggests heightened interest among traders.
In the previous 4 hours, the open interest for AEVO futures significantly increased by over 7%. This growth was accompanied by a noteworthy surge in trading activity within the past hour. The AEVO futures market on Binance experienced an approximately 14% rise in open interest during this period. The relatively even distribution of traders between buy and sell positions suggests potential for a correction.
The Aevo token unlock event has come to an end, but large investors, or “whales,” may soon enter the market and purchase tokens again. This buying activity is expected to drive the price of AEVO higher.
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2024-05-21 19:24