Crypto Exchange Binance Shifting Altcoins Into New Gear
Leading cryptocurrency exchange Binance is ready to ramp up its listing of new altcoins.
In recent months, Binance CEO Changpeng Zhao says he decided to slow down the listing of new coins on the platform to let other exchanges catch up.
But now, he’s planning to speed things up again.
“We slowed listing of coins deliberately for a while, mainly, for other people to catch up, for other exchanges to catch up,” Zhao told Cointelegraph. “But now I think we’ll go and push again.”
In the last six weeks, Binance has added 11 new coins to its platform:
• Pundi X (NPXS)
• Siacoin (SC)
• Streamr (DATA)
• Nexus (NXS)
• SingularityNET (AGI)
• IoTeX (IOTX)
• Theta Token (THETA)
• Civic (CVC)
• ZenCash (ZEN)
• Augur (REP)
• Bytecoin (BCN)
Binance burst onto the scene in July of 2017 and quickly made a name for itself as a reliable exchange that’s unafraid to list new projects on a regular basis.
Zhao says he didn’t expect Binance to explode in popularity this fast, and attributes the platform’s epic rise to its ability to process trades at a rapid rate.
“To be very honest, I didn’t expect it to happen so quickly. I thought it would take us solid 2-3 years to climb up there. We had many, many different plans to do that, but it happened so quickly that I was actually surprised.
I think our system is literally faster than our competitors’ systems, which also helped. When you build a really fast system, when you build a really modern road, people drive on it very quickly. I think that contributed to our high volume. And because we can sustain a high volume, people came to us.”
Binance plans to launch a new decentralized exchange later this year.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.