Lista DAO Price Soars After Being Listed On Binance: What’s Next?

• 1 Binance announced live trading for LISTA tokens on its platform on June 20th. 
• 2 Lista DAO price surged by over 8.59% over the past 24 hours and was trading $0.72 at press time.
• 3 Lista DAO is a decentralized stablecoin and liquid stacking platform.

Lista DAO crypto experienced a notable rise right from its debut on a major exchange Binance on June 20th. Initially pegged at $0.0565, LISTA was featured in a Binance MegaDrop event, which helped the crypto gain traction and demand for the crypto.

The successful listing of LISTA along with a price boost shows investors’ confidence in the project. At the time of writing, Lista DAO was hovering close to $0.717, reflecting a 6.75% intraday rise.

Lista DAO is a decentralized and open-source protocol for stablecoin lending protocol. Powered by LSDfi, LISTA experienced a notable rise on the very first day of debut. It enables users to engage in both staking and liquid staking, alongside the option to borrow lisUSD using diverse forms of decentralized collateral.

LISTA is the native token of Lista DAO. It serves several key functions within the protocol, including governance, incentivizing participation, and determining voting power.

Spot on Chain Reveals Lista DAO’s Airdrop Distribution

As per a recent tweet by Spot on Chain, the value of the token surged by 37% following its airdrop and introduction on various exchanges like Binance and other platforms.

Moreover, a significant portion, nearly 59%, of the airdrop tokens, amounting to 31.1 million LISTA, was claimed by a small group of just 12 entities. Within the first 20 hours post-airdrop, transactions involving 25 million LISTA tokens, which were worth approximately $16.8 Million, took place. 

Also, these tokens were either traded on decentralized exchanges (DEXs) or moved to centralized exchanges such as Binance and Bitget. As per the data on spot on chain, concentrated ownership and the flurry of trading activity might be the factors that led to the impressive rise in LISTA price.

Lista DAO Continues to Gain on the Second Consecutive day!

The daily chart reveals a bullish bias in the Lista DAO price on the second consecutive day. The price is up over 6% intraday, however, the momentum seemed to be cooling down on the 2nd day.

Now, the price may sustain in the bullish territory until it hovers above the intraday low. The bulls are in control of the trend. However, more buying volume may enter the market if the price breaks above the intraday high.

On the other side, the breakdown below the intraday low may trigger a profit booking phase for the short-term traders and investors and the price may decline. 

Conclusion

Lista DAO is a decentralized stablecoin lending protocol. LISTA is the native token that allows staking, liquid stacking, and borrowing against various collaterals.  Moreover, Post-airdrop, 59% of tokens were claimed by 12 entities, with 25 million LISTA, worth $16.8 Million, traded or moved to exchanges like Binance. 

The LISTA price noticed a bullish trend rising over 6% on the second consecutive day. Now, until the price stays above the intraday low the bulls may look for a buy-on-dip opportunity. A break above the intraday high could attract more buyers, while a drop below could lead to profit booking and a price decline.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Adarsh ​​Singh

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.