Despite the crypto market battling with the bear market tendency, there is one exchange whose actions are constantly telling who the boss is. Yes, Binance is rolling with positive trade volume. How is it managing to do so? Well, the exchange is leaping from point to point with new exciting announcements to attract more business. The brave growth actions of Binance is proving the mettle of the crypto exchange in the entire crypto market.
Recently the crypto exchange made an announcement on its official blog about the addition of four new Cardano ADA and NEO trading pairs. Yesterday Binance announced,
“Binance will open trading for ADA/PAX, ADA/USDC, NEO/PAX, and NEO/USDC trading pairs at 2019/03/27 4:00 AM (UTC).”
Any user with PAX or USDC will be able to get Cardano ADA or NEO tokens from Binance. The process of getting these two coins has become easy since prior to this announcement, the customers were required to have other asset holdings in order to purchase these tokens from the crypto exchange. With the ease introduced by the crypto exchange, more liquidity can be expected in the near future.
Market performance of Cardano ADA and NEO after Binance Announcement
Cardano ADA is enjoying the green spot in the market currently. There is an upward movement in the token’s growth by 5.3 percent. Currently, the rate of the ADA token is 0.061 U.S. Dollar. According to the data obtained from CoinMarketCap, the current market cap of ADA is 1,662,248,986 U.S. Dollars or 411,254 BTC. In the past 24 hours, the crypto coin’s volume has been 89,343,006 U.S. Dollars or 22,104 BTC. Currently, the circulating supply of Cardano is 25,927,070,538 ADA, whereas the total market supply of the crypto token is 31,112,483,745 ADA with a maximum supply of 45,000,000,000 ADA. The announcement by Binance proved to have a positive impact on the ADA’s reputation.
NEO, on the other hand, didn’t enjoy the good luck like Cardano despite the announcement. It was reported to face a dip of 0.31 percent. On the CoinMarketCap, it has scored the 17th spot. The current market cap of NEO is 600,687,691 U.S. Dollars or 148,638 BTC. In the past 24 hours, the crypto coin’s volume has been 288,729,449 U.S. Dollars or 71,445 BTC. Currently, the circulating supply of NEO is 65,000,000 NEO, whereas the total market supply of the crypto token is 100,000,000 NEO with a maximum supply of 100,000,000 NEO.
More on Binance
Binance’s coin is enjoying a strong market presence. The current market cap of BNB is 2,363,945,664 U.S. Dollars or 584,531 BTC or 17,037,246 ETH. In the past 24 hours, the crypto coin’s volume has been 195,488,301 U.S. Dollars or 48,338 BTC or 1,408,908 ETH. Currently, the circulating supply of BNB is 141,175,490 BNB, whereas the total market supply of the crypto token is 189,175,490 BNB.
Binance is enjoying the top spot among the other crypto exchanges. The strong performance can be credited to Binance Launchpad which is a new token sales platform. The platform has successfully released three new assets which are- BitTorrent (BTT), Fetch.AI (FET) and Celer Network (CELR). The sales were such a big hit that they got sold off within the first hour of their respective launch.
Reportedly, yesterday, Binance made a deal with Medici Ventures portfolio firm- IdentityMind to increase the compliance and data safety. On this the CEO and President of IdentityMind- Garrett Gafke said,
“Our risk and compliance platform powered by a patented digital identities engine meet the scale demands of Binance’s global operations while providing a highly accurate system for assessing any global risk factors from outside entities for transactions.”