Trader Earns $448K Following VELODROME Listing on Binance

Binance’s announcement of listing Velodrome Finance (VELO) triggered a surge of interest in the asset. Its price jumped by 200% following the news, reaching a new all-time high of $0.4245. Some traders were quick to capitalize on the opportunity. One trader, in particular, managed to make nearly $450,000 in just a few hours.

According to Debank, the trader reacted instantly to the listing announcement. One minute after Binance’s announcement, he invested 100 ETH (~$390,000) to purchase 2.45 million VELODROME tokens. As the token’s price rose, his investment climbed to $837,000, resulting in a profit of $448,000.

At the time of writing, VELO is trading at $0.3374 per coin, with a market capitalization of $293.43 million (+122.49% in 24 hours) and a 24-hour trading volume of $194.8 million (+3000%).

Over the past month, VELO’s value increased by 280.11%, and over the past year it has gained 540.6%.

Trading for the asset begins today at 14:00 UTC. Withdrawals will be available starting December 14 at 14:00 UTC. It’s worth noting that Binance has assigned a “Seed Tag” to VELO. This designation is given to new and innovative projects that, despite high potential, are characterized by increased volatility and risk.

Before trading, users must complete a special quiz confirming their understanding of the risks associated with this token. More details are available on the Binance website.

This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.