Competition among cryptocurrency exchanges is increasing day by day. Recently, two giant exchanges, Binance and Bybit, have been in a conflict regarding listing. This conflict started after Binance’s latest strategic shift in response to Bybit’s increasing market share. This “tug of war” has the potential to hint at Binance futures listings. At least, that’s according to crypto analysis company Layergg. Here are the details…
What is the connection between Binance strategy and Bybit?
Since Richard Teng took over as CEO at the end of last year, Binance has seen a significant increase in listings. As expected, these listings are primarily centered around “Binance Labs + IDO.” There has also been a noticeable change in Binance’s Futures listing strategy. Last year the focus was on “Transitioning from Spot to Futures”. However, recently there has been an increase in private listings on Binance Futures, likely due to Bybit’s influence.
Bybit has similarly made moves to take a share of Binance’s market share. Projects such as ACE, NFT, AI, MANTA and ALT were listed on Bybit following Binance Launchpad. In addition, Bybit also listed AUCTION and MOVR altcoins, which are only listed as spot on Binance, in futures. In response to Bybit, Binance is strategically accelerating Futures listings. Bybit Futures focuses on listings for its own futures trading. It is believed that Binance implemented such strategies in order to counter Bybit.
Which coins will be on the list?
According to analysts, if there is market interest and sufficient trading volume, Bybit’s projects are likely to be listed on Futures on Binance. Layergg currently cited DYM, MAVIA and TAO altcoins as futures listing candidates on Binance. Layergg’s expectation seems reasonable. For cryptokoin.com As we reported, the stock exchange listed DYM in futures and margin transactions in the morning.
This tug of war between cryptocurrency exchanges means more options and better prices for investors. Therefore, it would be beneficial for investors to follow such developments and plan their investments accordingly. Also, according to some, increased competition between cryptocurrency exchanges means more options and better prices for investors. It would be beneficial for investors to follow such developments and plan their investments accordingly. Binance and Bybit are among the world’s largest cryptocurrency exchanges.
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