Binance.US Implements New Listing Process for Crypto Assets
Binance’s US arm has introduced a new procedure for listing crypto assets, offering traders advance notice of potential additions to its trading support. This move is aimed at increasing transparency in the listing process. The first asset under consideration with the updated process is the native token of Sui Network (SUI), a layer-1 blockchain launched earlier this year. Sui Network is a competitor to Aptos (APT) and utilizes the Move coding language. It operates on a delegated proof-of-stake (DPoS) consensus mechanism, focusing on low latency and high throughput. Binance.US is currently reviewing support for SUI and may list it on its platform soon.
Background on Sui Network
Sui Network’s mainnet was launched in May and the project raised $300 million last year at a valuation of $2 billion. Binance’s global exchange already supports SUI on its Launchpool platform, and Coinbase listed the token under its “Experimental Label.” With its current market cap ranking at 95th place, SUI is currently trading at $0.415.
Hot Take
Binance.US is revamping its listing process to enhance transparency and provide traders with advanced notice about potential new tokens. The exchange’s consideration of adding support for Sui Network’s native token demonstrates its commitment to expanding its offerings. As cryptocurrencies continue to gain mainstream acceptance, it is crucial for exchanges to ensure transparency and provide clear guidelines for listing procedures. Binance.US’s proactive approach sets an example for other exchanges to follow, fostering trust among traders and investors in the crypto space.
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