Share this article
Crypto Derivatives DEX Aevo's Token Jumps 10% as Binance Labs Discloses Investment
The token's price is still down nearly 70% since March.
Updated May 21, 2024, 3:15 p.m. Published May 21, 2024, 3:12 p.m.
- Binance Labs did not disclose the size and form of the investment.
- Aevo saw a surge in trading activity leading up to its token launch in March, but volumes have faltered since then.
The native token of decentralized crypto derivatives trading platform Aevo climbed Tuesday after Binance Labs, the investment and research arm of crypto exchange giant Binance, revealed in a blog post that it invested in the protocol.
AEVO climbed 10% to $0.9, the highest price since mid-May. Even so, it's still nearly 70% below where it started trading in March at around $3, CoinGecko data shows.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Binance Labs didn't disclose the size of the investment, nor how it acquired the stake and whether bought tokens.
Aevo is a rebrand of Ribbon Finance and is built on top of its own Ethereum layer-2 (L2) network using the OP tech stack. It allows users to trade crypto perpetual futures, options and tokens before their launch using an off-chain order book, settling trades on the Ethereum blockchain.
The platform enjoyed a flurry of trading activity in February and early March, surpassing $1 billion in daily derivatives trading volume, largely as a result of farming incentives ahead of the token launch. Traffic since then faltered, recording well below $100 million daily recently, DefiLlama data show.
Read more: Billion-Dollar Volumes and Then a Steep Drop Prompts Allegations of Wash Trading on Aevo
"As part of the future roadmap, Aevo will launch vault strategies, yield products, and Aevo staking," Binance Labs said. "It will expand its ecosystem of derivative products by allowing builders to deploy their dApps permissionlessly on Aevo L2 to leverage its growing user base and unique features."
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
