Radiant Capital token jumps 25% after Binance listing announcement

The cryptocurrency exchange Binance announced the listing of the RDNT token of Radiant Capital’s lending protocol. The asset’s price rose more than 25% in 24 hours.

#Binance will list @RDNTCapital $RDNT in the Innovation Zone.

? https://t.co/TT4Q4W4vj6 pic.twitter.com/GrWsNHmcat

— Binance (@binance) March 30, 2023

The platform opened deposits in RDNT for trading in the Innovation Zone across three spot pairs — with Bitcoin, TUSD and USDT. Margin trading is available against the latter token.

Radiant Capital is a decentralized omni-channel money-market protocol. Users can deposit collateral in one of the main networks and borrow in another. RDNT, as the native utility token, is used for liquidity mining and governance.

According to DeFi Llama, the value of assets locked in Radiant Capital stands at $166.3 million. Built on L2-solution Arbitrum, the protocol also supports BNB Chain.

Since the Binance listing announcement, the RDNT price surged from $0.34 to $0.45. At the time of writing, quotes had corrected, but the 24-hour gain stood at 25.8%.

The exchange team reminded that the Innovation Zone is designed for trading new tokens with higher volatility and risk than others. RDNT has also been classified in this category by Binance.

By the end of 2022, the exchange expanded its list of supported assets to 357 coins.