One of the major price-driver of digital currencies is new listings. When a digital currency is added to a top digital currency trading platform, the price of that coin is affected positively. However, the reverse happens when a top trading platform delists a coin; the price of that coin will plunge heavily. This happened some months ago when Binance delisted Bitcoin SV; the price of Bitcoin SV plunged heavily after the delisting.
By adjusted trading volume, Binance is the second-largest digital currency trading platform in the world according to CoinMarketCap. Binance offers the highest market (trading pairs), over 530, amongst all digital currency trading platforms. It is one trading platform that every digital asset wants to be listed on. However, the exchange has a very strict policy for adding new coins. Nevertheless, according to a recent report, Binance US is looking to add at least 30 digital currencies to its platform.
Binance US Is Considering Listing At Least 30 Cryptocurrencies – Best Cryptocurrency to Invest In 2019 – Cryptocurrency Market Update – Crypto News Today
According to a recent announcement, Binance is considering to add a minimum of 30 digital currencies to the forthcoming trading platform for the United States community. The report revealed that Binance US is reviewing the digital currencies to ensure that they meet all the listing requirements of the trading platform. The trading platform has also committed itself to comply with US regulation. The exchange ensured the crypto community that it would do its best to comply with regulation by staying on the right side of the law.
As such, Binance will not list any digital currency that might be considered securities, as there are still lots of digital currencies in that category. A snippet of the announcement states:
“Binance U.S. recognizes that the ease of issuing blockchain tokens and the perceived lack of regulation could make these tokens targets for abuse. Binance US has both moral duties and legal obligations to shield our users from fraudulent blockchain projects and combat financial crimes.”
The Digital Currencies Under Review – Cryptocurrency Market Update – Cryptocurrency News Today
Binance US is currently reviewing 30 digital currencies that would potentially be listed on the forthcoming trading platform for the US community. According to the announcement, the digital currencies under review are XRP (XRP), Cardano (ADA), ATOM, Basic Attention Token (BAT), Binance Coin (BNB), BCHABC, Bitcoin (BTC), Dash (DASH), EOS (EOS), Ethereum Classic (ETC), HOT, IOTA (MIOTA), LINK, LOOM, Litecoin (LTC), MANA, NANO, NEO, PAX, REP, RVN, Trues USD (TUSD), USDC, Tether (USDT), Vechain (VET), WAVES, Stellar Lumens (XLM), Zilliqa (ZIL), and ZRX. The addition of these digital currencies to the platform would further expose them to potential investors, which could have an impact on their prices as well as the entire market.
Looking at the list, about five digital currencies from the top twenty coins by market cap did not make the list. The coins that did not make the list are Bitcoin SV (which was delisted on Binance some months ago), Tezos (XTZ), Monero (XMR), LEO, and Tron (TRX).
Back in June, the second most dominant trading platform – Binance – announced that it would limit access for residents in the US from September 12. According to the announcement, residents in the United States will not be able to make any deposits or trades, but they will be able to withdraw their tokens.