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Binance Crypto Exchange Announces Keep3r Network (KP3R) Listing

3y ago
bullish:

4

bearish:

3

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Key highlights:

  • Binance is listing Keep3r Network
  • The Keep3r Network project was started by Yearn Finance creator Andre Cronje
  • Binance is listing the KP3R token as part of its "Innovation Zone"

Binance lists Keep3r Network

The popular cryptocurrency exchange Binance has announced that it will be listing Keep3r Network as part of its »Innovation Zone« program. Deposits for KP3R opened at 12:00 PM UTC.

Keep3r Network is an Ethereum-based project designed to provide a market for DevOps jobs. Blockchain projects who require external DevOps can create »Jobs«, while »Keepers« can take on the jobs to earn an income. The KP3R token is designed to provide an incentive structure and a reputation system for Keep3r Network. The project is watched closely by many traders since it was started by Andre Cronje, an Ethereum developer who also created Yearn Finance.

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Binance launched its Innovation Zone in September as a response to the rapidly shifting DeFi (decentralized finance) ecosystem. Decentralized exchange platforms like Uniswap are always first when it comes to the trading of new Ethereum-based tokens, and centralized exchanges such as Binance are often days or even weeks behind. 

Binance decided to address this issue with the Innovation Zone, where they list new projects without much of a track record. In order to be able to trade the tokens listed in the Innovation Zone, users first have to answer a few questions and essentially acknowledge that they are trading high-risk assets.

In its listing announcement, Binance again warned users that tokens listed in the Innovation Zone pose »higher than normal risk«:

»KP3R is a relatively new token that poses higher than normal risk, and as such will likely be subject to high price volatility. Please ensure that you exercise sufficient risk management, that you have done your own research in regards to KP3R’s fundamentals and fully understand the project before opting to trade.«

Shortly after the exchange’s announcement, the KP3R token spiked from around $173 to a peak of about $223. After a brief retracement, the token is now changing hands at $210. While we’ve seen much bigger spikes following Binance listing announcements, the current sentiment in the cryptocurrency market is not too friendly towards speculative altcoins. In the last month, Bitcoin dominance has increased from 58.2% to 63.5%.

3y ago
bullish:

4

bearish:

3

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