Changpeng Zhao, CEO of Binance It is the world’s largest cryptocurrency exchange by volume. has disclosed some information on how tokens are listed on the trading platform.
“The most important criterion for listing a cryptocurrency on Binance is the number of users,” said CEO Changpeng Zhao, also known as “CZ.” sayIn an interview with Forbes on Monday,
CZ goes on to say that there are many other factors, such as the number of addresses in use on the blockchain, social media audience, and commit code. The number of users is “Key metrics,” he added:
“If the token has a large number of users We will list that token. That’s an overwhelmingly important feature, for example, token meme, although I personally don’t understand it. But if there are many users We will list that token. We follow the community So my opinion is not important.”
The number of users is just one of many factors for listing tokens. “If you have a large number of users Your product is worth it. That’s the easiest way to measure value. which the inclusion of user statistics in the application form It would help a lot,” said the Binance CEO’s statement.
Sergei Khitrov, founder of Listing.Help, said: “This is one of the main problems that many projects don’t understand. They should start with building a community. And that means not just 500 or 10,000 people on the Telegram channel, but a much bigger audience,” Khitrov said, suggesting that token creators start with smaller exchanges first.
Binance supports a total of 346 cryptocurrencies, including major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), as well as popular meme tokens such as Dogecoin (DOGE) and Shiba Inu (SHIB), accordingly.informationAccording to CoinGecko, Binance’s daily trading volume is about $28 billion.
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