Binance has embraced the first second-generation DeFi lending and borrowing platform. RDNT’s demand was off to a slow start, but a spike in daily active addresses spike showed promise. On 30 March, Binance [BNB], the largest crypto exchange in the world, announced the listing of RDNT. The latter is the native token for an upcoming […]
What to expect from RDNT after Binance’s listing
The hype around the RDNT token may yield some accumulation, especially with access to liquidity through Binance. However, the launch may also lead to a higher circulating supply, which might curb the potential upside. RDNT had slightly over 180.27 million tokens in circulation at press time, which represented 18% of its 1 billion RDNT maximum supply. Note that the total supply has been growing aggressively for the last four weeks.The rising supply may explain why investor sentiment was low at press time. The weighted sentiment metric peaked on 24 March but has since dropped back to its lower range.
While expectations are high, it is also worth noting that prices may crash after launch as initial investors cash out.Subscribe to get it daily in your inbox.
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