The worth of Velodrome Finance’s token, VELO, jumped greater than 56% on the announcement of an inventory on main crypto alternate OKX. The token can be obtainable for buying and selling beginning tomorrow, however deposits are open now.

Apparently, the worth of VELO managed to rise by 15% within the hours earlier than the itemizing was formally introduced. The principle momentum, nevertheless, occurred on the time of the announcement, when the worth of the token went clearly from $0.18 to $0.23, the place the primary gross sales started.

The OKX itemizing is VELO’s largest to this point. The Velodrome Finance undertaking itself is the most important decentralized finance platform on the Optimism (OP) community. In response to DefiLlama, the platform’s complete worth locked is estimated at $269.42 million, which is 28.19% of Optimism’s TVL. What additionally attracts consideration is that this determine for Velodrome Finance has elevated by greater than 30% within the final month.

Optimism itself at present ranks seventh amongst all blockchains when it comes to TVL and quantity of funds on all decentralized exchanges on its chain over the previous 24 hours. On the one hand, this may very well be thought-about successful, however a take a look at the total rating exhibits that all the principal rivals — Polygon (MATIC), Avalanche (AVAX) and Arbitrum (ARBI) — are above and “nearer to the physique,” which is Ethereum (ETH).