Why DODO Cryptocurrency Has Skyrocketed 90% Today

DODO (DODO) cryptocurrency traded 96% higher at press-time today.

What Happened: DODO, a decentralized exchange, said Thursday it was putting “finishing touches” to its platform and its eponymous token would soon be launched on the Binance Smart Chain soon. 

The DODO Beta v2  will go live on BSC on Feb. 22. In order to attract users and facilitate the growth of the platform within the BSC ecosystem, the DODO team would roll out incentive programs.

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DODO traded 90.87% at $4.85 at press time in a 24-hour window, outshining the apex cryptocurrency Bitcoin (BTC) which fell 2.35% to $51,081.07 in the same period. Dodo is up 120% over a seven-day trailing period.

Why It Matters: DODO is the seventeenth project on Binance Launchpool. Users will be able to stake BNB, BETH, and BUSD into separate pools to farm DODO over 14 days beginning Feb. 19, according to Binance. 

Rising transaction costs and increased confirm times are possible factors buoying the shift to the BNC network by DeFi projects.

Among other cryptocurrencies on the Binance network, PancakeSwap (CAKE) is up 39% over 24 hours at $14.35 and Venus (XVS) is up 44% at $84.51.

Photo courtesy: Wikimedia