Rumors: Binance Can Attract Projects On Ethereum Network To Its Own Blockchain Speculating On The Listing Issue
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 a listing of their token on the website. 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.
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 token holders on the new @Binance_DEX will be the first to experience increased speed, security, and user friendliness while maintaining full control over 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 (@binance) April 19, 2019
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!
Red Pulse integrates tokenized knowledge ecosystem with the Binance Chain, adding our token to @Binance_DEX, and driving 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
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%.
Recall the migration of Binance Coin to the native network is scheduled for April 23.