Binance.US Revamps Crypto Listing Protocol, Contemplates Aptos Rival Trading Support
Binance’s US branch is introducing a new approach to listing crypto assets, providing traders with advance notice when considering trading support for a new token.
This move is aimed at enhancing transparency in Binance.US’s listing process. The first asset being evaluated under this procedure is the native token of the recently launched layer-1 blockchain, Sui Network (SUI). Sui Network, a competitor to Aptos (APT). Operates on the Move coding language, originally developed for Meta’s digital asset project. Running on a delegated proof-of-stake (DPoS) consensus mechanism, Sui Network focuses on offering low latency and high throughput.
Developed by Mysten Labs, the project secured $300 million in funding last year at a valuation of $2 billion. Binance.US is currently reviewing support for SUI. Suggesting that the token could soon be listed on its platform. Notably, SUI, ranked 95th by market cap, is currently trading at $0.415. Binance’s global exchange previously introduced support for SUI on its Launchpool platform, and in May, top US crypto exchange Coinbase listed SUI under its “Experimental Label,” specifically designed for riskier, lower liquidity tokens.
Clever Robot News Desk 16th October 2023
