This week, Linear Finance (LINA) emerged as a viable competitor for Ethereum-based projects in the DeFi sector that are hampered by congestion and high transaction costs.
Data from Cointelegraph Markets and TradingView show that January 13 LINA was trading at $ 0.0135 with a daily trading volume of $ 2.3 million. Since then, its price has risen 750% to an all-time high of $ 0.10 on February 12.
Originally a project based on ERC-20 tokens, LINA transitioned to the Binance Smart Chain in mid-January prior to launch on your mainnet January 28.
On the same day as their mainnet launch, the team also released Linear Exchange to further establish itself as a full decentralized finance protocol. Upon launch, the price of LINA rose from USD 0.034 on January 29 to USD 0.082 on February 8, driven by a record USD 1.56 billion in daily trading volume.
Exchange partnerships and integrations drive the price of LINA up
A look at the project’s Twitter feed points to a growing list of partners and exchange integrations that have gone hand in hand with the token’s price rise and trading volume. The Linear platform is currently integrated with Band Protocol (BAND), which provides pricing oracles for all assets and helps create a reliable synthetic asset trading experience.
Through these integrations, all assets built on the exchange can be exchanged for ERC-20 tokens, allowing users to access the DeFi ecosystems based on the BSC and Ethereum with ease using the Linear Swap feature.
As the DeFi ecosystem continues to expand and projects built on different blockchain platforms gain popularity, interoperability will become increasingly important to the ecosystem as a whole.