Akropolis, a project that aims to provide frameworks and tools for DeFi product development is now listed in Binance Innovation Zone. The project makes it easy to develop complex Decentralized Finance (DeFi) products. According to the official announcement, Binance Innovation Zone now supports the trading of AKRO/BTC and AKRO/USDT. The news has triggered a positive price action and at the time of press, AKRO is already up by 6.2%. Interestingly, Binance Innovation Zone is a higher volatility token dedicated trading zone. Additionally, the official announcement clearly states that as AKRO is a relatively new token and is subject to high price volatility.
It is evident that Akropolis native token AKRO has been riding a wild price wave. According to the Coingecko data, the token is 82.6% down from its 17 July 2019 all-time high of $0.061677. The token had enjoyed a short-lived price rally triggered by Akropolis protocol going live on 4 July 2020. Unfortunately, we believe the Binance listing news might not do much good to AKRO.
Possibly no price affect
AKRO community is not very impressed with the price movement after the Binance listing news.
Wow binance listing has no affect on the price. Only 10% increase
Either we are in bear market or binance is dead.. pic.twitter.com/yU5afzyN9s
— onek (@onerk10) November 2, 2020
Will history repeat?
On October 29, Binance Innovation Zone announced listing Bounce Finance token BOT. As soon as the rumors of possible listing started making rounds on October 27, the BOT price surged by 29%.
However, within 24 hours of the listing event, the BOT price dropped by 35%. Since then the token has hardly recovered. We are unsure what led to this sudden price drop. But it is evident, the Binance Innovation Zone listing could not prevent the price drop.
At the time of press, there is no encouraging AKRO price action. Additionally, the recent BOT incident, makes us believe that we might not see an upward AKRO price rally.
Akropolis is a domain-specific financial protocol. It is precisely designed to help build DeFi products to enablee borrowing, lending, and investing.
Moreover, it offers DeFi developers AkropolisOS, a Solidity framework to build and manage complex applications and protocols.
AKRO is a governance token of Akropolis. Furthermore, the revenue dividends generated on the products developed using Akropolis is collected in AKRO. Currently, Sparta and Delphi DeFi products are running on Akropolis. While Sparta is a lending protocol, Delphi is a yield farming aggregator.
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