Linear (LINA) price gains 30% after transition to Binance Smart Chain

Published at: Feb. 13, 2021

This week Linear Finance (LINA) emerged as a viable competitor to Ethereum-based projects in the DeFi sector that find themselves hampered by congestion and high transaction costs. 

Data from Cointelegraph Markets and TradingView shows that on Jan.13 LINA was trading for $0.0135 with a 24-hour trading volume of $2.3 million. Since that time its price increased by 750% to an all-time high of $0.10 on Feb.12.

Originally an ERC-20 based project, LINA transitioned to the Binance Smart Chain in mid-January ahead of its mainnet launch on Jan.28.

On the same day of the mainnet launch, the team also released Linear Exchange to further establish itself as an all-encompassing decentralized finance protocol. Following its release, the price of LINA increased from $0.034 on Jan.29 to 0.082 on Feb.8, boosted by a record $1.56 billion in 24-hour trading volume.

Partnerships and exchange integrations boost LINA price

A scroll through the project’s Twitter feed points to a growing list of partners and exchange integrations that have accompanied the increase in token value and trading volume. The Linear platform is currently integrated with Band Protocol (BAND), which supplies price oracles for all assets helping to create a reliable synthetic asset trading experience.

Through these integrations, all assets built on the exchange are able to be swapped to ERC-20 tokens, enabling users to access both BSC and Ethereum-based DeFi ecosystems with ease utilizing the Linear Swap functionality.

As DeFi continues to expand and projects built on different blockchain platforms gain traction, interoperability will become increasingly important for the ecosystem as a whole.

Tags
Markets
Ethereum
Altcoin
Cryptocurrencies
Scalability
Defi
Decentralized Exchange
Lina
Related Posts
Ethereum competitor Near Protocol (NEAR) gains 106% as DeFi heats up
Near Protocol (NEAR) is a smart contract platform that uses parallel processing to scale the network. This technique, known as sharding, resembles what Eth2 is aiming to achieve and Near’s proof-of-stake consensus mechanism also allows token holders to stake their coins. In the past month, NEAR has rallied by 107% and this raises questions on whether the project is making significant strides in what has become an ultra-competitive smart contract industry. Compared to its competitors, NEAR is a relatively new project as the mainnet only launched in April 2020. Unlike Ethereum, NEAR’s consensus mechanism works towards fee stabilization and according …
Blockchain / Jan. 16, 2021
Polygon’s expanding ecosystem backs MATIC’s rise toward a new all-time high
Layer-two (L2) solutions for the Ethereum network have become a popular topic of discussion and speculation on their associated tokens backed the massive rally seen in many of the protocols this year. The parabolic growth of the decentralized finance (DeFi) and nonfungible token (NFT) sector also led to a surge in the cost carrying out simple transfers and this prompted developers and investors to migrate to L2-supportive platforms. One L2 solution that saw its token price rise to new highs earlier in the year and now looks poised to make another breakout higher is Polygon (MATIC), a proof-of-stake blockchain protocol …
Markets / Dec. 1, 2021
Reactivated Ethereum pools trigger a 78% surge in THORChain price
Ealier this year THORChain underwent a series of protocol exploits which led to $8 million being drained from its reserves and these successive attack took a heavy tool on RUNE price. This week, the protocol announced that it would re-open its Ethereum pool, along with other altcoin and BTC-based pools and the announcement appears to be having a positive impact on RUNE price. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $2.95 on July 20, the price of RUNE has increased 283% to a$11.64 and there is also a noticable uptick in trading volume. …
Markets / Oct. 24, 2021
Here are 6 DEX tokens that have seen exponential growth in 2021
DeFi has steadily grown in prominence over the past year thanks in large part to the strong foundations established by decentralized exchanges (DEX) that enable easy access to the latest tokens and projects. While there have been previous iterations of DEX user interfaces, such as IDEX or Etherdelta, it wasn’t until Uniswap launched that trading in the DeFi network really took off and facilitated the launch of the finance tokens. Here are six of the top-performing tokens in the decentralized finance sector. UNI/USDT Uniswap has risen from the humble beginnings of a simple user interface that allowed for a token …
Markets / Feb. 27, 2021
Gnosis (GNO) price rallies 50%+ after CowSwap users claim COW airdrop
This week Gnosis (GNO) price notched a swift 50%+ rally after the project took another step forward in its transition to the Coincidence of Wants Procotol, or CoW, an interface that offers traders protection from miner extracted value (MEV). Data from Cointelegraph Markets Pro and TradingView shows that the price of GNO has gained 86% over the past seven days, rising from a low of $308 on March 21 to an intraday high at $574 on March 28. Three reasons for the rapid price increase for GNO include the release of the CowSwap (COW) token which was airdropped to Gnosis …
Markets / March 29, 2022