Binance Announces Investment: This Altcoin Takes Off!

Binance Labs continues to spend on this altcoin, which it listed as the 35th launchpool project last month. Here are the details...
 Binance Announces Investment: This Altcoin Takes Off!
READING NOW Binance Announces Investment: This Altcoin Takes Off!

Binance Labs continues to spend on Pendle Finance, which it listed as its 35th launchpool project last month. The leading exchange today confirmed that it will provide financing to the DeFi project. The altcoin price rose in double digits within minutes of the announcement.

Binance Labs announces last minute investment

Binance Labs, the investment arm of Binance, recently confirmed that it will provide financing for Pendle Finance. According to the official announcement, the fund will be used for both individual and institutional investors to easily access DeFi return opportunities.

Pendle Finance is a yield derivatives protocol that allows users to execute advanced yield strategies and brings the TradFi interest derivatives market to DeFi. It gained over 20% at one point after the announcement.

Pendle Finance price takes flight on Binance news

Ranked #346 by market cap, PENDLE is currently up over 8%. It gained over 20% at one point after the announcement. The medium correction ended with the price returning to the $0.572123 region. The altcoin is currently trading in the $0.57 region, where it retains some of its gains.

As you follow on Kriptokoin.com, Binance also introduced a new banking alternative in another announcement today.

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