There is no doubt that everyone is looking for the $BABY coin after its skyrocketing rise in the past 24 hours. The BABY coin was listed on Binance a few days ago, but it seems that some investors see a future for the project.
So what is the Baby coin and what is its project? In this article, we answer these questions.

What is the Babylon project?

Essentially, the Babylon project provides liquid staking services for Bitcoin, which is considered the infrastructure for blockchain networks.
Through the protocol, you can store Bitcoin to provide liquidity and security for the Bitcoin ecosystem.
But in addition to that, the Babylon project operates on a private blockchain network called Babylon Genesis Chain.
We can liken the Genesis network to a layer one network that allows layer two networks to build on top of it, but in the case of Babylon, the networks built on Babylon are called Bitcoin Secured Networks.

What is the BABY coin?

The Baby coin plays a crucial role in the project's ecosystem as it is the main currency for transaction fees on the Babylon Genesis network.
The currency has a governance system that is relied upon to determine the strategic decisions of the currency.
Moreover, the currency is used to secure the network by incentivizing validators and Bitcoin stakers.

The Babylon network was launched in August 2024, and the network achieved a total of 57,000 Bitcoin stored.
Additionally, the number of stakers using the protocol has reached over 140,000, proving the success of the project's idea.

Why did the BABY coin rise?

As is common in cryptocurrency markets, it is difficult to pinpoint a clear reason for the rise of the digital currency, but some possibilities are the market's absorption of the project's value.
The Babylon project has a total value locked exceeding $4 billion, while the market cap of the project at listing was $190 million, which is about 5% of the TVL.
Therefore, it seems that the market has reassessed the project based on its numbers, as the market cap of the coin has reached nearly $400 million at the moment.

How not to miss free coin opportunities like BABY on Binance
Some may see the rise of the BABY coin and expect that they missed the opportunity to buy the coin, but what if I told you that the coin was essentially distributed for free to holders of the BNB coin before the listing?

Before the listing, Binance announced a Hodler Airdrop event in which a portion of the coin is allocated to BNB holders who stake BNB.

Where 75 million units of the coin were distributed for free, which is currently valued at about $11 million!

So you don't miss such an opportunity, you should store BNB coins in Simple Earn, either for a flexible period or a locked period.
This way, you will be eligible for any Airdrop of new coins coming from Launchpool or Hodler Airdrop.