Weekly Analysis of Binance Ecosystem (24 – 29 June)

Binance brought some significant ecosystem updates in the last five days including a trading landing page, auto staking feature, and more.

Ecosystem Updates 

Amidst increasing layoffs by cryptocurrency exchanges and the general bearishness of the cryptocurrency market, Binance continues to push forward. 

Here is a look at some of the updates within the leading exchange in the last 5 days:

A Strategy Trading Landing Page: It provides users with a comprehensive display of Spot and Futures Grid Trading strategies, their performance, and their popularity.

Auto-Staking feature: This allows users to automatically add their digital assets/digital currencies to the staking pool again at the end of the staking period.

Funding Rate Arbitrage TableWith this, users can access arbitrage information about Perpetual Futures Contracts and their spot equivalents in the market.

NFT Minting: Binance NFT Marketplace announced the launch of the NFT Minting feature, which would allow its verified users to create and mint their own NFT collections on the BNB Chain and Ethereum network.

Partnership with Khaby LameBinance partnered with famous Tik Toker Khaby Lame to join the team as a global brand ambassador.

Source

Price Performance

At an index price of $228 per $BNB coin on June 24, the price lodged a 4% decline within the period under review. On June 29, the price was pegged at $220.98. The market capitalization also saw a drop from $37.31 billion to $36.07 billion within the same period. 

Source: Santiment

What is Binance:

Binance is the world’s largest cryptocurrency exchange, founded in Shanghai, China, by Changpeng Zhao (CZ). Binance supports over 740 trading pairs on its platform. 

With a low transaction fee (0.1%) as well as fast transaction processing, Binance has become the exchange with the largest trading volume in the cryptocurrency market. Binance exchange’s technology can process 1.4 million orders per second, making it a top exchange in terms of the trading volume.

Where to find Binance:

Website | Twitter | Discord | Telegram  

Source : bsc.news

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