The world’s leading cryptocurrency platform, Binance, appears to have adopted a different approach to listing tokens and making them available to users on its platform.
Noting these changes, reputed crypto media Wu Blockchain, in a recent tweet on X, highlighted a number of tokens listed on the crypto exchange for futures but not for spot trading. The tokens mentioned were KAS, BSV, PYTH, BONK, ORBS, BIGTIME, TOKENFI, and ETHW.
According to the post, this new approach has been noticed in many of Binance’s recent token listings. On why the exchange is taking that approach, Wu Blockchain said, “Analysis pointed out that the core reason is that this can earn fees without taking on excessive responsibilities. Contract users have a strong tolerance for ups and downs, while spot users will criticize the price drop.”
Furthermore, the Wu Blockchain noted that tokens such as Blur were only available for futures trading for a long time before their spots were launched. He continued that the token’s futures trading activities often show the strength of the token.
Additionally, he added that adding a token for futures trading is more straightforward than doing so for spot trading. Wu Blockchain said this is because futures do not involve issues such as holding the token or technical matching. “It is expected that Binance will continue to operate a similar model in the future,” Wu Blockchain concluded.
Meanwhile, BTS, PERL, and TORN crashed yesterday after the crypto exchange delisted the tokens. As earlier reported, Binance said the delisting exercise is part of its regular review process to ensure tokens listed on the platform meet specific required standards.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Read the full article here