Layer 1 protocol Saga's mainnet went live and its token appears to be generating an enormous amount of trading activity, according to Binance, the exchange where the token first started trading on Tuesday.

According to Binance's listing of the SAGA token, trading data shows it had risen by more than 15,000% since early Tuesday and was trading hands at over $6 as of 2:03 p.m. ET. The exchange's data also showed that at one point SAGA had hit a high of $7.89 after opening at a low of $0.40. On the listing page, the exchange warned the SAGA token is currently subject to "high volatility."

Saga's protocol "allows developers to automatically spin up VM-agnostic, parallelized and interoperable dedicated chains, or 'chainlets,' that provide applications with infinite horizontal scalability," …