Cryptocurrency trade OKX has introduced the itemizing of Binance Coin (BNB), the native token of Binance trade on their platform.
BNB is an exchange-based token created for use on the Binance platform. The token has a deflationary mannequin, which implies that its provide reduces over time.
OKX customers will be capable of commerce the BNB token towards Tether (USDT) and USD Coin (USDC). Deposits opened up earlier at this time at 1:00 p.m. UTC. Spot buying and selling for these pairs will probably be obtainable on Wednesday, Dec. 21 at 3:00 a.m. UTC and withdrawals will open up at 3:00 a.m. UTC on Thursday, Dec. 22.
The worth of BNB is down roughly 10% over the previous week, based on knowledge offered by coin rating web site CoinGecko.
With its present market capitalization of about $40 billion, BNB presently ranks because the fifth largest cryptocurrency on the planet.
BNB will get hit by Mazars’s U-turn
The crypto trade was just lately rocked by the abrupt collapse of the main trade FTX. Since then, many have expressed considerations concerning the sustainability of different giant gamers and their skill to guard buyer funds.
To assuage these worries, Binance, which is at present the preferred cryptocurrency trade on the planet by buying and selling quantity, sought to offer proof-of-reserves knowledge, letting clients know the way a lot crypto is being held. Paris-based auditor Mazars was employed to audit this report. Nevertheless, Mazars quickly introduced that it might now not work with cryptocurrency corporations.
Mazars’s U-turn pushed the BNB value sharply decrease, however the token has managed to claw again a few of its losses.