Binance Releases 21st Monthly Review For its Exchange and Operations
Binance, the popular digital currency trading platform, has released its 21st monthly review in a recent blog post. In this edition, the exchange wrote about the Binance decentralized exchange (Binance DEX) and the new fiat-to-crypto platforms that will be launched in the near future, among other interesting things.
Reaching New Markets
A short time ago, Binance CEO, Changpeng Zhao, announced that they will be releasing Binance Singapore and the Binance decentralized exchange. Although these platforms have not yet been launched, they are expected to be released to the market before the end of this month.
Binance aims at moving towards greater freedom of money, and these platforms are two steps into this direction. At the same time, the firm explains that they have recently launched Binance Lite Australia, a fiat-to-crypto platform that allows users to purchase digital assets using Australian dollars. Moreover, the exchange has also launched fiat platforms in Europe and also in Africa. In the future, the intention is to enter the Latin American market with a new crypto exchange possibly located in Argentina.
At the same time, the Binance Labs Incubation Program has launched in North America Europe and also Africa. The exchange will be mentoring different startups and connecting them to improve the blockchain market.
Binance Labs is also granting $15,000 to the first three open-source Binance Labs Fellowship projects: Ironbelly, HOPR and Kitsune Wallet. The goal behind the Binance Labs Fellowship is to support developers and researchers in creating free and open-source projects.
Another important thing that Binance mentioned is that they are currently testing the Binance DEX. It has been tested and running for around two months and the intention is to be sure that everything runs smoothly. As per the report released by the exchange, several contests have been launched, including a trading competition and an ongoing bounty program to find bugs on the Binance Chain.
This month, Binance Launchpad will also be featuring a new project called Matic Network, a platform for scalable and instant blockchain transactions. The Binance Launchpad will be also implementing the new lottery format that aims at making token sales more transparent.
Finally, Trust Wallet, the official cryptocurrency wallet for the Binance DEX, has launched several new features. It now supports coins such as Stellar; Tezos, Thunder Token, Kin, Nimiq, and also Aion. They are also working on the staking feature for the application and allow users to vote and generate an income just for validating the transactions in a specific network.
Binance has also recently decided to delist Bitcoin SV from its platform. According to a recent blog post uploaded by the firm, the platform periodically reviews each of the virtual currencies listed in order to ensure that it continues to meet with high standard levels.
The platform informed that one of the factors that the exchange takes into account to delist tokens includes the contribution to a healthy and sustainable crypto ecosystem and more.
Because of this situation, Bitcoin SV fell more than 14% in the last 24 hours and it is now the 13th largest digital asset in the market.
Binance Coin (BNB) has also been performing very well in the market since it bottomed in December 2018. Since that moment, the digital asset moved from $4.5 up to almost $20 a few hours ago. Nonetheless, the cryptocurrency has found a strong resistance above $19, which did not allow the digital asset to surpass $20.
Binance continues with its quarterly coin burning that reduces the total supply of BNB. This allows the price for the digital asset to increase in price with a stable or larger demand. Now, BNB became the 7th lartest crypto in the market, when a few weeks ago it was traded outside the top 10.
The report shows that there is a real interest in Binance and that the exchange is moving ahead as it promised. There are many challenges ahead but the trading platform seems to be doing everything in order to remain competitive in the future.
Live Binance Coin (BNB) Price:
1 BNB/USD =$218.6675 change ~ -11.06%