Changpeng Zhao, CEO of Binance, world’s leading digital asset exchange has revealed important key metrics. Mainly for how to list the cryptocurrencies on the Binance trading platform. The CEO disclosed this information in an interview with Forbes on Monday.
Significantly, during the interview, CZ directly shared that a strong user base is the most important factor for listing a token in Binance. In addition, there are some major points like active users wallet address on blockchain, social media popularity and code commits.
Besides all these, the number of active users will be the prominent indicator for a token to get listed on Binance. According to Binance exchange, the CEO works on a formula stating, if there is a large number of users, then the product will have a value.
Binance Listing Tips
CZ is more cautious about the volume of the users as the productivity is solely dependent on that calculation. For instance, if a digital currency has a huge volume of users, the profit of the currency will be valuable. And that is the easiest way to measure including the users statistics in the application form, he adds.
Also, the CEO follows some listing measures on Binance network. He says,
“Only if the digital token has a large count of users, Binance will list it. That will be the overwhelming attribute to the exchange. Besides, even my opinion doesn’t matter if the coin has a strong user base in the market.”
Moreover, with smart ideology, the CEO targets the profits concentrating more on trading volumes rather than listings. CZ very openly comments, even though I don’t prefer meme tokens but if there is a popular community for the token, then it will be listed in Binance.
Thus, following the same listing techniques, Binance encourages trading in more than 500 cryptocurrencies. It includes popular coins like Bitcoin (BTC), Ethereum (ETH) and its own native BNB tokens. Also trending meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB).
However, as a leading cryptocurrency exchange in the U.S marketplace, Binance daily trading volume is almost around $28 billion. Besides so many challenges in the industry, Binance still remains in the top list among other crypto exchanges in the marketplace.