Binance’s listing of the Usual Protocol (USUAL) token has sparked a significant price increase, defying the overall downturn in the cryptocurrency market.
Binance Listing Fuels USUAL’s Rise
The world’s leading cryptocurrency exchange, Binance, recently added support for USUAL across several platforms, including Binance Simple Earn, Buy Crypto, Binance Convert, Binance Margin, Binance Auto-Invest, and Binance Futures. This move appears to be a major catalyst for USUAL’s price surge.
A “Stablecoin Renaissance”?
The Usual Protocol team, in a social media post, stated their goal is to initiate a “stablecoin renaissance.” They highlight a community-focused approach, with 90% of tokens allocated to users and only 10% to insiders (locked for a year). Furthermore, 100% of the protocol’s revenue goes directly to USUAL holders via a decentralized autonomous organization (DAO).
How USUAL Works
USUAL serves as a governance token for the Usual Protocol, which operates on two key fronts:
- Stablecoin Creation: It aggregates real-world assets (RWAs) from various sources, including BlackRock, Ondo, and others, to create a permissionless, verifiable, and composable stablecoin called USD0.
- Community Ownership: The protocol emphasizes community ownership and revenue sharing, aiming to contrast with centralized stablecoin models.
Impressive Price Performance
At the time of writing, USUAL is trading at $1.43, representing a 17% daily increase. This stands in stark contrast to the overall crypto market, which experienced a 6% decline during the same period.
Disclaimer:
This information is for general knowledge and shouldn’t be considered investment advice. Always conduct thorough research before investing in cryptocurrencies./p>
