The native token of a real-world asset (RWA)-focused project is rallying after Binance and other major crypto exchanges have suddenly rolled out trading support.
In a new announcement, Binance, the top global crypto exchange by trading volume, says it is now supporting Avantis (AVNT), a RWA perpetuals decentralized exchange (DEX).
Binance will attach a seed tag to AVNT, a designation it applies to lower-liquidity projects that could exhibit higher volatility compared to other listed tokens. Binance requires users who want to trade assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks.
The top South Korean crypto exchanges Upbit and Bithumb have also rolled out support for Avantis.
Amid the news, AVNT went parabolic, running from a low of $0.40 all the way to $1.54, a gain of 285%. AVNT has since retraced and is trading for $1.23 at time of writing, up 53% in the last 24 hours.
Avantis is built on the Base network and has a market cap of $322.6 million, making it the 253rd largest crypto project.
Says the project,
“AVNT is the connective tissue of the Avantis ecosystem; a utility and governance token designed to align, scale and secure our vision of building DeFi’s (decentralized finance) universal leverage layer…
As Avantis grows, AVNT will improve protocol security, ensure incentive alignment between protocol stakeholders, and foster progressive decentralization and accountability.”
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