Binance, the biggest cryptocurrency exchange in the world by reported volume, has announced that the Anchor Protocol token ($ANC) will be listed on its platform.
The exchange made the announcement today via a tweet.
Anchor protocol also celebrated the news with a retweet.
Binance announced on its website that it will list Anchor Protocol (ANC) and open trading for ANC/BTC, ANC/BUSD, and ANC/USDT trading pairs at 4 PM on January 25th, 2022. Users can now begin depositing $ANC in anticipation of future trading.
Withdrawals for ANC will be available on Binance’s platform starting on January 26, 2022, at 11:00 a.m. (UTC). The token will be traded on Binance and will be available to send and withdraw over the Terra blockchain.
It is of great importance for the users and investors of the token who will now be able to access the platform of the most important exchange in volume and number of users.
What is Anchor Protocol ($ANC)?
$ANC / USDT price chart
Anchor Protocol is a lending and borrowing protocol that runs on the Terra blockchain system. In an over-collateralized architecture, ANC serves as the protocol’s native utility token as well as its governance token. It enables users to engage in governance, lend, borrow, and earn interest with their digital assets while also participating in governance.
At the time of publication, the native token of the Terra-powered DeFi savings system was up by almost 7 percent.
According to statistics released by DefiLlama, Anchor is the most valuable protocol on Terra, with a total value of approximately $9 billion locked in its transactions. Lido and Astroport are the runners-up and third-place finishers, respectively.
Overall, Ethereum is the second-largest smart contract platform, with a total value of $16.43 billion locked within smart contracts. Despite gaining significant traction in December, reaching a record of $21 billion on December 27, the company’s share of the DeFi market has already dropped to 58 percent, down from 97 percent in January 2021.
