Clover Finance (CLV) and Quant (QNT) up over 20% following Binance listing

Lawyer says Binance Colombia blocking accounts without a court order is unlawful
11 months ago
2 mins read

Cryptocurrency exchange Binance has announced the listing of DeFi centered token Clover Finance (CLV) alongside Quant (QNT). 

Following the listing, both tokens have gained in value over the last 24 hours. According to CoinMarketCap, CLV ranks in the 245th position, trading at $1.34, surging over 21% within 24 hours. 

CLV is the native token of Clover Finance, a platform built focusing on cross-chain compatibility, enabling users to bridge DeFi dApps between Ethereum and Polkadot seamlessly. The token is used for staking to allow the network to achieve consensus.

CLV price. CoinMarketCap

Elsewhere, Quant ranks in the 62nd position, trading at $119 by press time with gains of almost 27% in the last 24 hours. The token, launched in 2018 aims to link blockchains and networks globally without minimizing the efficiency and interoperability of the network. 

Quant price. CoinMarketCap.

In a blog post, Binance notes that CLV would be traded in pairs of CLV/BTC, CLV/BNB, CLV/BUSD, CLV/USDT. Investors will also be able to trade Quant in pairs of QNT/BTC, QNT/BNB, QNT/BUSD, and QNT/USDT from today, July 29.

Furthermore, holders of the two tokens can start depositing into their Binance accounts from today July 29. Elsewhere, withdrawals will begin on July 30. 

Binance regulatory scrutiny

The listing follows wide-scale global scrutiny on Binance with claims the exchange is running scams and the possibility of aiding money laundering. Therefore, the listing points to Binance trusting the projects and the tokens have possibly proven themselves to be reliable.

Earlier, Binance announced it had stopped selling digital tokens related to shares. The shares refer to digital versions of equities pegged to the value of the specific share. Such tokens are usually traded in fractional units.

Furthermore, Binance has revealed plans to open regional headquarters globally to handle the regulatory concerns with building global pressure. According to CEO Changpeng Zhao, the exchange is looking for licensing everywhere.

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Justinas Baltrusaitis

Justin crafts insightful data-driven stories on finance, banking, and digital assets. His reports were cited by many influential outlets globally like Forbes, Financial Times, CNBC, Bloomberg, Business Insider, Nasdaq.com, Investing.com, Reuters, among others.