RDNT Price Rockets 40% after Radiant Capital’s Binance Innovation Zone Listing – What’s Next?

Key Takeaways:

• Radiant Capital (RDNT) token price jumped 40% in two days.
• The project’s launch on Binance Smart Chain brought in additional locked capital.
• Will Binance Innovation Zone propel RDNT?

YEREVAN (CoinChapter.com) – Radiant Capital’s RDNT token has jumped 40% in two days to reach $0.43 on March 30.

Should the rally continue, the bullish target for RDNT would stand at a previous support of $0.46. However, if the token doesn’t break the resistance at $0.44 in the current session, it could decline to the previous support at $0.40 by April.

Notably, the uptick came after the platform launched on Binance Smart Chain (BSC) on March 27, bringing in over $33 million in locked capital.

Radiant Capital TVL Rises on BSC

Radiant Capital is a protocol native to the Arbitrum ecosystem. However, it launched on Binance Smart Chain to broaden its audience.

“Why BNB? Because the ecosystem is growing at a staggering pace and will onboard the next 100M+ users into Web3.”

tweeted Radiant.

The project also asserted that BSC would provide Radiant access to “huge upgrades in decentralization, faster transactions, extra capacity, sidechain development,” etc.

After the launch, Radiant’s TVL added $33 million in three days on BSC, bringing the overall TVL to $166 million on BSC and Arbitrum combined.

Moreover, Binance announced it will list the RDNT token in the “Innovation Zone.” However, will the listing bode well for the coin?

Also read: Trader Joe coin surges 200% thanks to locked capital on Arbitrum – is JOE a BUY?

Will Binance Innovation Zone Boost Radiant?

Binance has listed over a hundred tokens in the Innovation Zone, including sports fan tokens like Barcelona’s BAR and a play-to-earn game coin, My Neighbor Alice.

However, a listing in the innovation zone does not specifically indicate value.

The largest coin in the list by a big margin is Shiba Inu (SHIB), which was included on May 10, 2021. Notably, the listing itself did not propel the coin’s price. The SHIB price bagged over a 1,000% gain in Q4,2021, in tune with the Bitcoin price rally.

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The second-largest project by market cap, Rocket Pool, also advanced in price in unison with the flagship crypto, but the Binance listing on Jan 18, 2023, coincided with the rally this time. Moreover, the GMX coin price action traced Bitcoin’s footsteps instead of rallying after the Innovation zone listing in October 2022.

In the aforementioned cases, the coins in question did not benefit in price from the Binance listing, which leads one to believe Radiant might not be any different. Traders should watch the market sentiment closely to determine price fluctuations.