Binance Coin is Now World’s 14th Largest Crypto
October 6, 2018 4:21 pm
Binance Coin (BNB) has become one of the top 20 cryptocurrencies in crypto space. Binance recently tweeted that BNB has become the 14th most valuable crypto by market capitalization. Currently, Binance stands at over $1.2 billion.
Binance highlighted how its token holders are benefitted with its multiple use cases on its official Medium blog. BNB can be used to pay trading fees on Binance’s partner merchants. It can also be used as a gift token on social media services.
According to Coinmarketcap’s 24-hour trading volume ranking of crypto exchanges shows Binance at the top position. The ranking also shows that Binance is the largest crypto exchange by trading volume.
In March 2018, Binance officially announced that it is moving its operation to Malta. The reason behind this move was the warning about the lack of an operating license from Japan’s financial watchdog, Financial Security Agency (FSA). Malta welcomes the company by the Maltese Prime Minister and leader of the Labour Party, Joseph Muscat.
In August this year, Changpeng Zhao, CEO of Binance stated that his company does not list shit coins. The announcement was made due to few companies’ statements which stated Binance has cheated them. The CEO stated that his company does not list shit coins even if they pay 400 or 4,000 BTC.
In June, Binance Labs made its first venture capital investment in Crowdequity platform, Republic. The company also announced that it is set up around 1 billion USD fund to support blockchain and crypto startups.