Crypto change FTX has listed the Balancer protocol’s governance token BAL on its spot and futures buying and selling platforms.
FTX founder and CEO Sam Bankman-Fried advised The Block that the change is seeing “a number of curiosity and demand” to commerce BAL, given the rising recognition of decentralized finance (DeFi) generally.
Balancer is a decentralized or non-custodial automated market maker protocol that was launched in March of this 12 months. Earlier this week, the protocol formally deployed the BAL token on Ethereum.
Quickly after the deployment, the token began buying and selling on Balancer’s personal change in addition to Uniswap and noticed its value leap from $7 to as excessive as $22 on the time. It’s at present buying and selling at about $12.
Notably, FTX was additionally the primary main change to record Compound’s governance token COMP final week. Bankman-Fried stated the token itemizing went “fairly nicely,” referring to first rate volumes.
Excessive-profile crypto exchanges Coinbase Professional and Binance adopted subsequent and listed the COMP token. It stays to be seen whether or not BAL follows COMP and will get listed on main exchanges.
© 2020 The Block Crypto, Inc. All Rights Reserved. This text is offered for informational functions solely. It’s not supplied or meant for use as authorized, tax, funding, monetary, or different recommendation.