Binance launches unknown altcoin on platform

Binance, the largest crypto exchange in the world by trading volume, has decided to support a new DeFi altcoin. It concerns Radiant Capital (RDNT), the latest addition in the so-called “Innovation Zone” of the exchange platform.

What can we expect from RDNT?

Radiant Capital (RDNT) is the latest addition to Binance’s “Innovation Zone”. The famed crypto exchange has this under-the-radar DeFi altcoin added to its trading platform, making it now possible to trade this asset.

In its own words, RDNT is poised to conquer the DeFi market with the so-called omnichain money market, which allows users to place any asset on any major network and borrow various supported crypto on networks.

According to DeFi Llama, the well-known crypto tracker, Radiant V2 currently ranks 61st among all DeFi protocols with a total value locked (TVL) of a whopping $163.5 million. The TVL of the project has increased by more than 43.9% in the past seven days, which is a very impressive achievement.

When looking at the meaning of TVL, it represents the total capital held within the blockchain smart contracts. This is calculated by multiplying the amount of collateral locked into the network by the current value of the assets. A nice milestone for Radiant V2. At the time of writing, the value of RDNT is $0.376.

When do altcoins outperform Bitcoin?

Altcoins often outperform Bitcoin under various market conditions and factors. Here are a few scenarios where altcoins could outperform Bitcoin and the broader crypto market:

New Innovations and Technologies: Altcoins that offer new technologies or innovative features can spark investor interest and see an increase in value. For example, altcoins such as Ethereum and Cardano offer smart contract capabilities, which are not available on the Bitcoin network.

Adoption and Uses: Altcoins that have real uses or are widely used in specific industries can see significant growth in value. For example, altcoins such as Chainlink and Filecoin have seen adoption in the decentralized finance (DeFi) and data storage sectors, respectively.

It is important to note that altcoins are generally considered riskier than Bitcoin due to their smaller market cap and lower liquidity. Therefore, investors are advised to conduct thorough research and analysis before investing in altcoins.

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