Binance Exchange: A Year Since the Project Inception, Ruling the Roost

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Binance Exchange: A Year Since the Project Inception, Ruling the Roost

Binance was a still-untested project planning an ICO one year ago, and its native asset, Binance Coin (BNB) hit the markets with a price below $1, only to explode soon afterwards.

https://twitter.com/cz_binance/status/1007129615951773697

Now, a year later, as crypto coins have moved into the mainstream, Binance is one of the hubs of the current crypto space. Lately, Binance has expanded to more exotic coins and tokens, and a listing on this precise exchange was seen as a ticket to visibility and higher volumes for many promising coins.

It could be said that Binance was behind the rise of TRON (TRX) and the renewed prominence of Verge (XVG). For now, Binance has been impossible to reach for other hopeful projects, including NANO (NANO), formerly RAI Blocks, and Bitcoin forks like Bitcoin Private (BTCP).

The most recent addition to Binance is SC Coin (SC), a digital asset with a working product, considered to be one of the better ideas and use cases in the crypto space. SC has built a network of distributed, decentralized data storage, and the digital asset serves as a payment for participants, with regular payouts for sharing disk space.

SC appreciated by more than 25% overnight, to $0.015, but is still down around 85% since its peak, and has lost more than 60% of its value against Bitcoin since the December peak. During a bear market, the Binance effect may be short-term, and not as pronounced, as SC was on a downward trend before the listing.

!SC!

The SC digital asset will be traded against BTC, Ethereum (ETH), and Binance Coin (BNB). The addition of Tethers (USDT) is, for now, allowed for limited coins only, adding liquidity and additional price speculation. The current listing of SC will slightly change its risk profile. Currently, the asset is only traded against BTC, and highly dependent on its price strength.

SC is also seeing positive development with a potential Ledger addition, again expanding the reach and usability of the coin, as well as growing the potential investors’ community:

https://twitter.com/hashbolic/status/1004382025166581760


This article appeared first on Cryptovest