Binance Gets Defense Against Fake Volume Accusations
Binance and KuCoin remain the most important hubs for newcomer digital assets.
Binance, one of the most active exchanges of late, has been mentioned in a recent research stating that crypto trading relied on fake volumes. However, a user went forward to refute some of the claims, giving as evidence the robust trading volumes on the exchange, which result in transparent quarterly earnings.
Binance has been known for listing assets that invite active trading and have a robust community and readiness to assure real trading volumes. Some of the coins are voted by the community. The most recent addition to Binance is Storm (STORM), a project for freelance crypto payments. The STORM token currently trades at $0.026.
The Value of Binance Coin (BNB)
According to a recently performed revenue analysis of Binance, the BNB token is in fact quite valuable. Due to the high trading activity and usage of the coin, there is a potential for a fair price of $39. At the moment, BNB trades around $7.92, after reaching a peak near $20.
Binance burns BNB tokens every quarter while distributing trading fees to the community. Because some of the coins are locked or held without trading, the value of the circulating coins is estimated at $78.
Reddit users noted that the asset fueling KuCoin exchange has seen much lower volumes, and a price sliding to $3.33.
The volumes remain much lower compared to the December trading. The chief possible reason is the slowdown in Bitcoin trading, which is the most active pair against the KCS asset.
KuCoin’s prominence rose along with Binance, with much more numerous assets listed, and 24-hour volumes of $29 million in the past 24 hours. Meanwhile, Binance marks volumes of $1.3 billion for various reasons from asset selection to a better profile with users.
Binance and EOS
Binance has recently announced it would handle all technicalities on the EOS token swap. The asset, currently an ERC-20 token, will be replaced by a new one at the launch of the main net. There would be no need to withdraw the tokens from the exchange.
Binance has been known for readily supporting airdrops and coin splits, thus preventing unnecessary movements of coins.
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