DOT, the native token of the Polkadot blockchain protocol, a blockchain network that supports several interconnected sub-chains called "parachains," has experienced an outstanding increase of more than 40% over the past week driven by support from Binance.
In particular, Binance, the world's largest crypto exchange by trading volume, has given its support for the crypto in 2 different ways.
On the one hand, the exchange announced on December 23 a $10M fund to finance projects based on the Polkadot protocol.
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On the other hand, on December 28, the ETH/BUSD trading pair was replaced on Binance's homepage by DOT/BUSD, giving this way the native token of the protocol greater visibility.
Driven by these two news items, the DOT token is currently trading at $7.26 after adding 13.15% over the last 24 hours and 48.49% over the last week.