Binance, the world’s leading cryptocurrency exchange, has announced that the platform is all set to list Andre Cronje’s latest decentralized finance [DeFi] project Keep3rV1 ‘s native utility token, [KP3R] in the Innovation Zone and open trading for KP3R / BNB and KP3R / BUSD trading pairs.
Keep3r Network is an Ethereum-based project which is designed to provide a market for DevOps jobs. TWJ had previously reported that its native token skyrocketed in less than a day after its launch on the 28th of October.
However, the current price of the asset has reduced by more than 50% since the peak. The initial hype around the coin could be attributed to its association with DeFi darling, Yearn Finance, and its Creator, Andre Cronje. As the hype faded, KP3R’s value also noted a significant decline over time and was currently being traded at $155.56, according to CoinGecko.
As per the data provider, more than $36 million in volume has been traded in the past 24-hours, whereas historical data suggested the volume noted on the 28th of October was nearly $290 million. Its market cap has, on the other hand, was found to be $30.89 million, at the time of writing.
Binance Innovation Zone
The Innovation Zone is essentially a “dedicated trading zone” that enables users to trade newer token offerings from their Binance account, simultaneously protecting less suited users from being exposed to the “risk” that comes with trading them. It was created in response to the growing calls from the community with regards to the platform’s token listing rules.
The exchange’s CEO, CZ had previously revealed that while listing popular projects is required to keep the exchange competitive, what is hard, however, is to avoid scams/bad projects. And doing both at the same time isn’t always easy, especially with the fast-moving DeFi space.
With this dedicated trading zone, Binance intended to offer its users a ‘safer space” for accessing newer and popular tokens that will likely have higher volatility than others. In this way, the exchange will be able to prevent more “untoward scenarios” for its users who just want to access certain projects.