Binance DEX Clocks $50 Million In Volume For the Month Of October

The decentralized exchange from the world's biggest crypto exchange, Binance DEX, records $50 million in trading volume activity last month.

In its monthly report released on Oct 15, Binance stated that its decentralized exchange, Binance DEX, closed the $50 million mark in terms of volumes going by the data from CoinMarketCap as well as CoinGecko.

According to the report there was a successful upgrade of the Heisenberg hard fork, commonly referred to as the Binance Chain. The upgrade has been in existence for more than five months now and boasts of over 46 million block height and has completed more than 33 million transactions coming from about 300,000 addresses. The report also revealed that there are about 160 BEP2 tokens registered in Binance Chain.

As per the report about 11 community-submitted listing were approved by validators for distribution within the the Binance DEX while two are in the validation process. As per the report, there are now 115 trading pairs in the Binance DEX with the freshly listed ones offering trading promotions programs.

Apart from the impressive figures, the report also added that progress has been made when it comes to strategic partnerships. The exchange has introduced CipherTrace, which is the fresh Anti Money Laundering procedure as well as a special partnership with phone manufacturer HTC Exodus for the manufacturing of a smartphone which will operate on Binance Chain.

Binance Chain is also rolling on the Threshold Signature Scheme (TSS) which it describes as a cryptographic protocol that will help in distributed key signing as well as generation. TSS enables the generation of a signature which is then shared among various parties where every user gets a share of the private key which can be used for signing transactions. Binance also elaborated on the benefits of the TSS like enhanced security, speedy setup as well as certainty in recovery protection.

Binance also stated that BEP 51 was introduced in October and has the capacity to block various transactions from given addresses.

Live Binance Coin (BNB) Price:

1 BNB/USD =$22.1849 change ~ 6.06%

Coin Market Cap

$3.2 Billion

24 Hour Volume

$131.41 Million

24 Hour VWAP

$22

24 Hour Change

$1.3444

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Joseph Kibe
Joseph Kibe
Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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