In such a rare occurrence, Bithumb is one of the largest cryptocurrency exchanges in South Korea, has announced their underway plans to list a native token of their rival exchange, Binance.
Traditionally, exchanges do not list the native tokens of competitive exchanges, but Bithumb seems to be in the process of changing this narrative. With this new development, Bithumb has shrewdly achieved a competitive market advantage and, its future could only get bigger.
Why would an already Succeeding Exchange Choose Such a Cause?
Binance Coin (BNB) was launched as an Initial Coin Offering in 2017 by the leading cryptocurrency platform, Binance. Fast forward to date; the native coin has matured, especially this bull season when Binance Smart Chain grew to the preferable choice for traders amidst exorbitant Ethereum gas prices.
As a utility token, BNB offers two primary roles of token swapping and discounted trading fees. Previous to the Binance Smart Chain launch of 2020, BNB was solely used as a utility token but can now fuel the Binance Smart Chain through smart contracts and Defi apps.
With a market capitalization of over $51.08B, a coin selling at $373.90(time of writing,) and a price shoot of over 300% in 2021 alone, investing in BNB is totally worth it.
Once officially listed by Bithumb, BNB will be paired against the BTC.
What is Bithumb to Gain with this new Decision?
Plainly put, Everything.
Let us start at the very top; Bithumb is the leading digital asset platform in South Korea, serving millions of customers spread over 151 countries globally.
Among its product highlights is to produce trading pairs between mainstream tokens such as Bitcoin, Ethereum, XRP, and now thanks to exorbitant Ether transaction fees, Binance Coin.
The popularity of the Binance exchange alongside the rising demand in Binance Smart Chain have successfully hurled the Binance Coin as an innovative opportunity.
