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- Binance releases the demo video of Binance DEX while the development of Binance Chain continues.
- Ethereum now sits comfortably in the third position.
The largest exchange of cryptocurrencies for adjusted volume, Binance has recently published some details regarding its ambitious project called Binance Chain. In addition to this, the exchange is preparing to launch a decentralized exchange platform (DEX). The exchange also released a short preview video that starred in a DEX demo where relevant features were shown, including how to place orders, account creation and portfolio registration.
The vast and vibrant community received the news well as Binance Coin (BNB), the official token enriched with significant bullish gains. The managing director of Binance, a former employee of Bloomberg, talking to Cointelegraph provided more information about the project in which he compared Binance Chain to Ethereum and its coins based on ERC-20.
Binance DEX is a decentralized exchange that allows you to trade with another token on our chain … The chain also allows you to send and receive BNB, which is the native currency, as well as other tokens. So the blockchain can allow you to send and receive [tokens/coins] directly, only if I want to send them to you.
He went on to note that, Binance Chain will be a competition worthy of honor for Ethereum, EOS, Stellar and even Tron especially because of the planned "instant" transactions.
Price update of Ethereum
Ethereum (ETH) is trading at $ 91.60 after failing above $ 100 during weekend trading. The asset is stable above $ 90.00, even if it is still in the green business. Ethereum has found a new home in 3rd placed on the market after XRP took second place. ETH has a market capitalization of $ 9.5 billion and a 24-hour trading volume of $ 1.6 billion.
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