Binance, the world’s largest cryptocurrency exchange by trading volume, has made new announcements covering many altcoins. Here are the details…
Binance adds 3 new altcoin pairs: It also makes new additions to the Convert program
According to Binance’s first announcement, the exchange is adding three new altcoin pairs to the platform. According to the announcement, Binance starts listing BURGER/ETH, PEOPLE/ETH and UNFI/ETH pairs on the platform tomorrow at 13:00 Turkish time. Thus, the trading process begins at that time. On the other hand, the exchange announced that they have listed a new altcoin in the Convert program. The platform adds the Wrapped NXM (WNXM) to the Convert field.
cryptocoin.com As we have also reported, NXM is the management token for the Nexus Mutual protocol. It is used to purchase collateral, vote on management decisions, and participate in risk and demand Assessments. It is also used to encourage the supply of capital. It represents the ownership of mutual capital.
The stock market is holding a question and answer event
On the other hand, it will hold a question and answer event on Binance’s English Telegram channel. This event will be attended by Ean Cuznaivy, Director of Research and Development of the aelf (ELF) Blockchain project. Participants of the event, which will start today at 13:00 CET, will have the chance to win an ELF of 5,000 USD.
20. BNB coin burning ended
As we have reported, Binance periodically burns and removes the BNB coin from circulation. The periodic burning of BNB by Binance is a deflationary mechanism to reduce the total supply of coins and increase their attractiveness. Cryptocurrency exchange Binance has announced that it has completed the 20th burn of its native token BNB. According to the official blog post, approximately 1.96 million BNB (about $444.6 million) was burned in the process.
It marked its third trimester burning thanks to its relatively new “auto-burn” feature. Previous BNB burns reflected the use of tokens and the revenue generated on the Binance central exchange. However, it was replaced by BNB Auto Burn, a move the platform expects to make the process more objective and clear for the community. The release of BEP-95 in November 2021 laid the groundwork for Binance’s BNB auto-burn mechanism to help burn BNB tokens faster. At the beginning of the year, the native token was trading for over $500. The price has since dropped by about 60 percent.
Binance completes RAMP token exchange
Finally, Binance announced that it is supporting the rebranding process of the RAMP (RAMP) token. RAMP has been renamed to LeverFi (LEVER). The exchange has reopened withdrawals and deposits for LEVER. That is, deposits and withdrawals for RAMP tokens are no longer supported.
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