Aevo saw a surge in trading activity leading up to its token launch in March, but volumes have faltered since then.
The native token of decentralized crypto derivatives trading platform Aevo climbed Tuesday after Binance Labs, the investment and research arm of crypto exchange giant Binance, revealed in a AEVO climbed 10% to $0.9, the highest price since mid-May. Even so, it's still nearly 70% below where it started trading in March at around $3,
Binance Labs didn't disclose the size of the investment, nor how it acquired the stake and whether bought tokens. network using the OP tech stack. It allows users to trade crypto perpetual futures, options and tokens before their launch using an off-chain order book, settling trades on the Ethereum blockchain.
The platform enjoyed a flurry of trading activity in February and early March, surpassing $1 billion in daily derivatives trading volume, largely as a result of farming incentives ahead of the token launch. Traffic since then faltered, recording well below $100 million daily recently,"As part of the future roadmap, Aevo will launch vault strategies, yield products, and Aevo staking," Binance Labs said.