SAGA, the token of Saga Protocol, a gaming-focused layer 1 blockchain project, has experienced a great rise on Binance. SAGA, which opened for general listing today, experienced an increase of 19,600 percent. Following the Launchpool announcement on the stock exchange, $13.4 billion worth of BNB and FDUSD were staked for the project, which also attracted great interest from Binance users.
None of the previous Launchpool projects had seen $13 billion worth of stakes. Among the last projects, ENA and ETHFI also approached the 13 billion dollar threshold, but could not pass it.
“Scaling to infinity” feature
Rebecca Liao, founder and CEO of Saga, said: “1. It is commented that Saga, which is defined as “the first layer project to create layers”, has the feature of “scaling infinitely” thanks to the small chains connected to the main chain. More than 350 projects have been included in this system, also called “horizontal scaling”, so far.
In fact, Saga is not a game-oriented blockchain project as mentioned, but the fact that most of the participants focused on this field helped it make a name for itself in this way. More than 80% of the projects within the testnet were game-focused.
It entered Binance like a storm
SAGA, whose mainnet update was made today and saw a huge buying frenzy after its general listing on Binance started, exceeded $ 7.8 on the stock market. The increase rate approached 20 thousand%.
It was fake, it dropped 100%
On the other hand, blockchain security firm PeckShield stated that a fake SAGA token was issued on BNB Chain and a whale reset the price for 72 BNB. “The fake SAGA of the same name is down 100 percent,” PeckShield said.
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Source: https://uzmancoin.com/saga-binance-kripto-blok-zinciri/
