The recently created trading platform Binance is quickly becoming one of the important pillars of the cryptocurrency community. With a robust voting process and a careful selection of coins, Binance is working to increase the popularity of cryptocurrencies.
It has taken a while before Binance looked at Monero, despite its leading position based on market capitalization. The latest list of new trading pairs also includes DASH, along with other altcoins and tokens.
In addition to a list of coins added by the discretion of Binance, the exchange added a “coin of the month”. This time, it is ZCoin, a booming digital asset that also trades on Bittrex. ZCoin is also of the family of coins offering anonymity, similar to Monero and DASH.
The Binance platform, however, comes with a warning. Some of the liquidity for day trading is provided by BNB tokens. But this arrangement has been noted by a critical Twitter account, Ponzi Crypto Coins (@bccponzi). So far, the review is not critical and for now, the review is positive:
The BNB token itself becomes a form of investment, allowing trading and liquidity to come to more coins, but the future will tell if this price mechanism remains functional. For now, however, Binance is one of the exchanges giving liquidity to projects with a robust community and a good record of achievement, picked from recent ICOs.
Additions to new exchanges are boosting Monero (XMR) in the past days, as Korean exchange Coinone joined with a new listing. The XMR market price has benefitted, rising more than 38% in the past week to $118.00.
DASH also grew by more than 30% in the past week as altcoins rose in general, reaching prices of $350.