Binance exchange continues to stand strong despite the challenging bear market and still represents a significant portion of the trading volume. The exchange’s investment arm has just announced a new crypto investment. The company, which has been increasing its investments in the DeFi sector, did not shy away from investing even in an environment dominated by fear due to the bear market.
The Project Binance Invests In
According to the official announcement, Binance Labs has today invested in EigenLayer’s adoption by supporting the Liquid Restaking Token (LRT) and EigenLayer Strategy Manager Renzo. The Renzo Protocol, which is EigenLayer’s Restaking Hub, facilitates collaboration among stakers, node operators, and AVSs.
Binance Co-Founder and President of Binance Labs Yi He said;
“Renzo’s technology addresses the complexities of Liquid Restaking, enabling more users to participate in Liquid Restaking. At Binance Labs, we are always looking for innovative DeFi projects that offer new use cases, and we are excited to witness the growth of Renzo in the Liquid Restaking sector.”
Binance Labs has already invested in 250 projects from 25 countries, with a total size exceeding 10 billion dollars. The company’s investment return is over 14x.
