What the numbers say: Decentralized finance (DeFi) lending and borrowing protocol Radiant Capital's native token RDNT recently experienced a jump in price. The token's price increased to $0.31, up from the $0.28 level earlier in the day. The figure represents a 10% surge, though the token is still 48% below its all-time high in September last year. Relevance: The increase in RDNT's price came shortly after Binance Labs, the venture capital (VC) arm of the largest crypto exchange by trading volume, announced that it invested $10M in Radiant Capital. The firm said the new funds would be spent on tech and product development. Brands that should care: Over the last several months, Binance Labs has ramped up its investments in the Web3 space. Most recently, the firm similarly pledged to invest $15M in the Web3 gaming startup Xterio. The unit's investment portfolio also includes Hooked Protocol, Mysten Labs, Mask Network, League of Kingdoms, and Numbers Protocol. |
