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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Dec 24, 2024 07:33 UTC
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USUAL Token Explodes 25% as Binance & Kraken Invest $10M
Binance and Kraken invest $10M in Usual which boosted the USUAL token price by over 25%.
Usual has partnered with Ethena Labs and Securitize, aiming to enhance DeFi by offering higher yields and seamless integration.
This investment and partnership signal a renewed focus on stablecoin development.
The crypto market is taking a hit, with recent whale sell-offs and nearly $1 billion in leveraged liquidations shaking things up. Yet, amidst this downturn, one surprising development is catching the eye of crypto users—Usual token’s unexpected surge. What’s behind this sudden spike?
The answer lies in the massive $10 million investment from Binance and Kraken into Usual, a fiat-backed stablecoin that’s setting its sights on real-world assets. With this move, Usual could be on the brink of something big.
This major milestone has sparked excitement in the crypto community, driving Usual token prices up. In just 24 hours, the price surged from $1.05 to $1.21, marking a 25% increase.
So, the big question is: Is Usual’s asset-backed stablecoin a true innovation, or is it just another short-term pump-and-dump? Let’s explore.
USUAL Token Partnerships Boost Growth
Usual recently announced a strategic partnership with Ethena Labs and Securitize, the tokenization platform behind BlackRock’s BUIDL fund. This move aims to strengthen the growing DeFi market by offering liquidity, yields 80% higher than traditional options, and smoother integration with other platforms.
Alex Odagiu, investment director at Binance Labs, has praised the project, noting that it has the potential to support stablecoins and expand the overall crypto ecosystem. Binance has also increased its investment in stablecoins, backing other community-driven projects like Solana-based Perena and the Bitcoin liquid staking platform Lombard.
From DeFi to CeFi
CEO Pierre Person is excited about the partnership and the opportunity to expand Usual’s collaboration with Binance.
“With strong support from our backers, this achievement will help Usual grow from DeFi into CeFi and transform the stablecoin market.”
This partnership is renewing faith in stablecoins, an area that had struggled under SEC Chair Gary Gensler’s leadership. With Gensler stepping down and more crypto-friendly policies expected under a potential Trump administration, the stablecoin market could see a swift rebound.
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Usual’s steady rise offers a glimmer of stability—and a glimpse into what’s next.
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