World’s largest crypto exchange Binance announced on Friday that it has introduced BUSD trading pair for five new tokens. These tokens are BAT, ENJ, NANO, ONT, and RVN, and the trading began on 14/02/2020, 8.00 am (UTC).
Binance USD (BUSD) is the stablecoin of the Binance ecosystem, backed by the US Dollar. The BUSD was launched in September 2018, as it was probably the only missing piece in the Binance ecosystem, considered to be among the biggest and fastest-growing ones. Being a stablecoin, the BUSD has much more appeal than the BNB and other similar functionality tokens, especially for those looking to volatility attributed towards the crypto space.
All the five tokens for which the BUSD trading is introduced, are utility tokens and adding liquidity to these tokens is extremely important. The future of the crypto industry is highly dependent on utility, functionality, and liquidity, which is why platforms like Binance are taking necessary steps to stay relevant in the market.