March 4, 2024

COMP token rose 25% amid unexpected listing on Binance

COMP token rose 25% amid unexpected listing on Binance

The price of Compound Governance Token (COMP) soared 25% following news of its listing on the Binance exchange.

According to a statement from Binance,the exchange did not charge a token listing fee. Currently, COMP trades are available for users in pairs with Bitcoin (BTC), Tether (USDT), Binance Coin (BNB) and BinanceUSD (BUSD).

June 25 – just an hour before the start of trading withnew asset – Binance representatives released a statement regarding COMP's listing. In five minutes, the price of the asset increased from $210 to $260 on the Poloniex exchange. 

COMP token rose 25% amid unexpected listing on Binance

Since then, the price of the asset has retreated significantly. At the time of writing, COMP is selling for 225 USDT. 

Recall that recently Binance also added trading pairs with the Ukrainian hryvnia.

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Based on materialscointelegraph.com