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Lorenzo Protocol (BANK) Price Rallies 150% After This Binance Announcement

Lorenzo Protocol (BANK) price has led the crypto market gains this Saturday, rallying 150% after Binance unveiled BANKUSDT futures listing.
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Lorenzo Protocol (BANK) Price Rallies 150% After This Binance Announcement

Highlights

  • BANK price takes a bullish trajectory soon after Binance issued a listing announcement.
  • Notably, the CEX launched a BANKUSDT perpetual contract, triggering a 150% price rally.
  • Traders and investors speculate if more gains lie ahead amid enhanced market exposure globally.

Lorenzo Protocol (BANK) price has defied the broader market’s recent uncertain trend by rallying roughly 150% this Saturday. The institutional-grade asset management platform has stolen the spotlight primarily as a top CEX, Binance, unveiled a new listing for its native token. As a result, traders and investors are extensively eyeing this crypto, speculating whether the pump could sustain amid enhanced market exposure.

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Lorenzo Protocol Price Bullish As Binance Futures Adds BANKUSDT Contract

At the time of reporting, BANK price traded at $0.05097, up by a staggering 145% in just a day. The cryptocurrency’s price surged from a bottom of $0.01839 intraday, marking over 150% gains in sync with Binance’s announcement.

Source: CoinMarketCap

According to an official press release by the crypto exchange on April 18, the platform’s futures trading division is adding the BANK USD-Margined perpetual contract to its stockpile of offerings. The platform’s colossal user base remains poised to enjoy up to 50x leverage while trading the asset. The timeline for this launch was set at 18:30 UTC, the same day.

Further, the top crypto exchange set the capped funding rate at +2.00%/-2.00%. Also, the same perpetual contract will be available for ‘Futures Copy’ trading, offering users enhanced opportunities to make returns.

For context, usual market sentiments about the coin’s future price action have turned highly bullish with the new offering. Traders and investors are expecting a substantial influx of funds into the token as the new listing paves the way for more investor interaction with the asset.

Now, crypto market watchers are thoroughly monitoring the token for further gains, highly optimistic amid an ongoing rally of nearly 150% following the listing announcement. Lorenzo Protocol is an institutional-grade asset management platform that issues yield-bearing tokens backed by diverse underlying strategies.

Besides, it’s worth mentioning that Binance revealed another crypto listing this week, CoinGape reported. The CEX has revealed plans to open trading for Balance (EPT) shortly, garnering further attention among traders and investors.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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