Sunday, Mar 7th 2021 8:28 AM

Market Digest Nigeria


Binance founder faults cryptocurrency exchanges

Changpeng Zhao, the founder of the largest cryptocurrency exchange in the world, Binance, has faulted competitors for overlooking BNB (binance coin), and not listing it on their exchange for users to buy and sell.


Binance coin is one of the growing cryptocurrencies in the world, which Zhao described as the 4th largest cryptocurrency.

According to him, Binance coin not being listed by other exchanges limits its rivals’ growth.

Zhao said he shouldn’t be bothered about the decision as it favours him, but he wants the cryptocurrency market to grow. Aside from BNB, the Binance founder also mentioned the omission of Cake and XVS (another type of cryptocurrency) by other cryptocurrency platforms.

“It’s interesting many exchanges won’t list the 4th largest crypto. It shows a finite mindset. And they still don’t understand that it limits their own growth. As #BSC/#BNB gets bigger, this effect will become increasingly clear.

“And already the largest in daily smart contract transaction volume. Let’s watch them miss out on the real DeFi action.

“It’s crazy to see many exchanges didn’t list tokens like $CAKE, $XVS, etc. Their loss. The selfish part of me didn’t want to tell them this actually. But we want the industry to grow.

“#BSC and projects on BSC will continue to grow without other exchange listings. They got @Binance already. It’s really for the other exchanges’ benefit to list some of the strong #BSC tokens.” Zhao said in a statement on Twitter, on Thursday.

Checks by Ripples Nigeria showed that 0.0051263 units of BNB sells at $263.45 on Binance, while 0.0019125 units of XVS is trading at $98.29. No figure was listed for Cake as at the time of filing this report.

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