By Bardil 
A low-cap altcoin, BANK, has experienced a significant price surge following the announcement by Binance, the world’s leading cryptocurrency exchange by trading volume, to list perpetual futures for the token.
In a recent announcement, Binance revealed that it will support Lorenzo Protocol‘s BANK token on its futures platform. The announcement coincided with the official launch of BANK on the BNB Chain.
Following the news, BANK surged from a low of $0.03 on April 18th, its launch day, to a peak of $0.057 within hours. As of the latest update, the token has retraced slightly and is trading at $0.044, marking a 13% decline over the past 24 hours. With a market capitalization of $18.85 million, BANK remains a low-cap altcoin.
Binance has made BANK/Tether (USDT) perpetual contracts available with leverage of up to 50x starting April 18th.
According to Lorenzo Protocol‘s official documentation, the platform enables users to stake Bitcoin to obtain staked liquid tokens, which can then be utilized across various decentralized finance (DeFi) platforms. The protocol positions itself as the “Bitcoin Liquidity Finance Layer,” addressing the growing demand for Bitcoin liquidity through Layer-2 solutions, DeFi, and trading platforms.
“Lorenzo creates an efficient market in which Bitcoin holders can easily find the best opportunities to invest their unused Bitcoin liquidity and serves as the premier DeFi ecosystem in which to finance Bitcoin staking tokens,” the platform stated.
For more information, visit Binance‘s official announcement and Lorenzo Protocol‘s documentation.