RESOLV token surges 460% as Binance announces Alpha and Futures listing

The RESOLV token jumped 460% after Binance announced its listing on June 10, with exclusive airdrops for users. Binance will also delist five FDUSD pairs to enhance market quality. The token is developed by Resolv Labs, backed by Coinbase, aiming to launch a delta-neutral stablecoin. Questions linger on how much momentum RESOLV can maintain post-launch as trading approaches.

The RESOLV token has skyrocketed 460% in value following Binance’s recent announcement of its Alpha and Futures listing set for June 10. In addition to the listing, Binance is also offering exclusive airdrops to its eligible users via the Alpha Events page, a strategy likely aimed at increasing user engagement.

Binance users can begin Alpha trading for RESOLV at 13:00 UTC, with Futures trading starting shortly after at 13:30 UTC on the same day. Such high-profile listings tend to boost token prices, and RESOLV is no exception to this trend, but its remarkable surge is certainly grabbing attention.

To put RESOLV’s surge into perspective, consider this: Hyperliquid’s HYPE only rose 6% after its debut on Binance.US, while Ethena’s ENA gained 8.6% following its Coinbase listing. Pocket Network (POKT), however, fared even better with a staggering 592% increase after Upbit support. RESOLV thus stands tall among other tokens reacting to significant exchange listings this quarter.

Moreover, Binance is rewarding users with early access through airdrops as part of the launch strategy. Users who hold Alpha Points can claim these airdrops once trading commences. A post on X hinted at a diligent community preparing for the listing, noting “RESOLV is about to TGE, listed on Binance Alpha and Binance Futures. Claim starts at 9 PM on June 10… Seems like a lot of people are farming.”

But what’s behind RESOLV? Developed by Resolv Labs, the project has made waves in the funding sector, recently securing $10 million with investors that notably include Coinbase. RESOLV aims to bring a delta-neutral stablecoin to market, a design purposed to eliminate directional market risk through balancing strategies. This complex approach is particularly appealing to experienced DeFi users seeking stability in a turbulent crypto landscape.

In an unrelated move, Binance announced it will be delisting five FDUSD spot trading pairs as of June 6 at 03:00 UTC. The pairs affected include ACX/FDUSD, IDEX/FDUSD, ORCA/FDUSD, THETA/FDUSD, and XAI/FDUSD. According to Binance, this action is part of an effort to keep the trading market high-quality. Although users can still access individual assets through other pairs, spot trading bots linked to the delisted pairs will be inactive, prompting Binance to advise users to preemptively adjust or cancel their bots.

With a remarkable 460% DEX rally already in the books, the backing from Binance, and significant investors like Coinbase, RESOLV’s launch is poised to create a buzz. However, it remains to be seen if the momentum can be sustained once actual trading volumes kick off in just a few days’ time.