In less than two years, the Binance cryptocurrency exchange came out on top in terms of trading volume, demonstrating one of the most impressive financial indicators among industry players. Now the platform has launched its own blockchain Binance Chain and intends to lure projects from the Ethereum ecosystem, using the listing question as a carrot and stick, reports The Block .
Binance is one of the main suppliers of liquidity in the cryptocurrency market, and is also popular with traders around the world. Thus, many projects aim to achieve listing of their token on the site. It is noteworthy that the commission for listing Binance sends to charity through its own fund Binance Charity.
According to The Block, one of the projects received an offer from representatives of the exchange, in which the latter promised favorable terms of cooperation in the event of migration to the Binance Chain network. The source of the publication stressed that projects may receive substantial privileges for transferring a certain percentage of their chain to the blockchain, and in case of refusal they may face delisting if daily volumes fall below $ 1 million.
Representatives of the trading platform did not comment on these rumors. Interlocutor of the publication, who wished to preserve anonymity, added:
“They are betting that breaking the law might work because they are preparing for transformation into a decentralized network. For this they need to attract as many projects as possible to the network. Interestingly, their entire business was built around Ethereum. What is Binance without Ethereum? ” , He referred to the exchange strategy, allegedly implying a transition from jurisdiction to jurisdiction in an attempt to avoid financial regulation.
Note that on the day of the launch of the main network Binance Chain, the Mithril project, a distributed platform for content creators, reported on the migration to a new network.
Mithril will be the first project to migrate to @Binance Chain! $ MITH tokens holders on the road will be able to keep up with their funds.
Learn more: https://t.co/R2jEAlFCqr pic.twitter.com/5zScQGznn4– Mithril_Official (@MithioOfficial) April 18, 2019
Thus, over the past 24 hours, the price of an asset has increased by more than 50%. Meanwhile, the centralized Binance has added the MITH / BNB and MITH / USDT trading pairs.
#Binance Adds $ MITH / $ BNB and $ MITH / $ USDT Trading Pairs https://t.co/Zi8YjXSXMt pic.twitter.com/SDXmwzC2KR
– Binance (@binance) April 19, 2019
MITH / BTC , TradingView data
On April 19, a similar solution was reported by the Red Pulse project, built on the basis of the “Chinese broadcast” NEO. After the announcement was followed by an instant price increase of almost 30%.
Red Pulse joins @Binance Chain!
Pulse integrates tokenized of Red Knowledge Ecosystem with the Binance Chain A, Adding Our token to @Binance_DEX , and driving is greater real-world applications of blockchain, specific to the Knowledge and information space. https://t.co/nwhKrW7aQU pic.twitter.com/UFvXz39iHp
– Red Pulse (@red_pulse_china) April 19, 2019
PHX / BTC , TradingView data
Perhaps the most impressive dynamics was demonstrated by the Atomic Wallet project token. After the announcement of the migration from Ethereum to Binance Chain, its price increased by more than 200%.
Congrats @Binance Chain on Mainnet Launch! It will be fully supported in @AtomicWallet next release. Our $ AWC token is one's of the first projects' to the migrate on @BinanceDEX ? pic.twitter.com/h06c7q3RUH
– AtomicWallet.io (@atomicwallet) April 18, 2019
CoinMarketCap data
Recall the migration of Binance Coin to the native network is scheduled for April 23.
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