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Crypto Derivatives DEX Aevo's Token Jumps 10% as Binance Labs Discloses Investment

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. Binance Labs didn't disclose the size of the investment, nor how it acquired the stake and whether it 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.

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