Binance News: Linear Finance Shuts Down After Binance Delists LINA Token

In a surprising turn of events, Linear Finance, a prominent DeFi protocol, has announced its closure. This decision comes after Binance delisted the LINA token, which exacerbated the protocol’s financial woes. Here’s a closer look at what led to this unfortunate development.

DeFi Protocol Linear Finance Abruptly Shuts Down

Linear Finance, a DeFi protocol, announced its closure on March 27 after nearly five years of operation. The shutdown follows Binance’s delisting of the LINA token, which accelerated the protocol’s financial struggles. Linear Finance relied on token liquidations, leading to an unsustainable financial model. The protocol initially introduced ’Liquids’ as synthetic tokens enabling users to access commodities and forex markets but faced continuous difficulties maintaining profitability.

Tutorial’s TUT Surged Over 200% Following Binance Listing

Tutorial (TUT) crypto rallied as much as 235% today after community votes secured it a listing on the Binance exchange. According to data, TUT rose from $0.0167 to an intraday high of $0.0564 before pulling back. The rally extended its weekly gains to an impressive 2,600%, making it one of the top-performing altcoins. The surge was backed by high trading activity, with a 600% increase in daily volume crossing $189 million. TUT’s market cap stood at $38.5 million. Interest from derivatives traders also spiked, with a 400% jump in open interest for TUT futures.