BETA surges to more than 65x its token sale price after Binance listing
Beta Finance’s BETA token is now live and trading on Binance after the successful conclusion of the BETA token sale on Binance Launchpad. On Binance, BETA is available in trading pairs against BNB, BTC, and the BUSD and USDT stablecoins.
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Beta Finance is a decentralized finance project that has developed a money market where traders can lend and borrow cryptocurrencies in a permissionless manner. Users can also short-sell cryptocurrencies through the Beta Finance platform by providing stablecoins or ETH as collateral. Like many other DeFi protocols, Beta Finance has a governance token. The BETA token is not only used for governance, as it’s also used for staking. BETA stakers are compensated by the protocol with a portion of the revenue that it generates.
So far, bulls have been dominating the BETA market. At the time of writing, BETA is changing hands at about $3.93, which is a massive 65.5x multiplier compared to the token sale price of $0.06. The BETA price recorded an all-time high at $4.75 (a 79x ROI compared to the token sale price).
The extreme price action has attracted a lot of traders to the market. The BETA/USDT trading pair alone is currently posting a 24-hour volume of more than $750 million.
Of course, we have to keep in mind that BETA is still in the process of price discovery, as it has only been trading on Binance for about three hours. There’s likely to be a lot of price volatility in the BETA markets in the following days before the market settles down.
The last few tokens that were launched on Binance Launchpad have been strong performers when compared to their token sale price. Here’s the current ROI for the last 5 tokens that were featured on Binance Launchpad.
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*Data from October 8, 2021 at approximately 14:30 UTC