Exchange Teases Fans & Followers on Twitter
Binance has long been one of the most popular online exchanges. Currently it ranks #5 by adjusted trading volume, with a 24 hour volume of $886,683,043. Binance & its notorious CEO CZ also have quite an online presence as well. CZ is considered one of the larger influencers in the world of Bitcoin & cryptocurrencies. Their native exchange token is also worth noting, with BNB in the top 10 cryptocurrencies by market cap.
Earlier today, the official Binance Twitter account made a mysterious tweet with only the words Evolved & SOON
While the online rumor mill is already spinning, there are a few good guesses that they might be intending.
One of the best bets regarding the announcement is that Binance is planning to release a margin trading & leverage. This might confirm our previous piece on Binance & margin trading. Many other exchanges have already implemented margin trading and leverage. This includes BitMex & HitBTC as well Bitfinex and other big names.
Margin trading and leverage are considered high risk â high reward. It is essentially trading with borrowed funds from the broker. This style of trading can significantly magnify gains or cause significant losses. Despite the risk involved, margin trading with leverage is considered very popular amongst traders.
Updates to BNB
Another fine bet is that the post refers to their native exchange token, BNB. Binance have already implemented many changes and improvements to their token. This includes the launch of their own chain, adoption of smart contracts and other perks.
Last but not least, this announcement could be linked to the rumored Binance DEX. Decentralized exchanges are growing in popularity and Binance would probably like to be ahead of the curve. A few popular DEX's include iDEX & Waves.
The Bottom Line
All bets are fair at this point & it is hard to predict what the announcement will be, but the 3 above have a high likelihood. Regardless to what new function or improvement Binance chooses, it will most likely be praised by the public. One can assume that this update will mean good things for BNB's value and market cap.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado