The key difference is that their backend exists on a blockchain. But in this article, we’re primarily interested in a platform that emulates the functions of centralized exchanges. In theory, any peer-to-peer swapping could constitute a decentralized trade (see, for instance, Atomic Swaps Explained ). In this article, we’ll take a dive into decentralized exchanges (DEXs), trading venues where no intermediaries are required. However, with the rapidly-evolving stack of technologies available, a growing number of tools for decentralized trades have emerged. Traditionally, centralized players have dominated this field. Without these forums attracting a global user base, we’d have much poorer liquidity and no way to agree on the correct price of assets. But, as the tech and interest in it grow, these may very well become integral components in the cryptocurrency sphere.įrom the early days of Bitcoin, exchanges have played a vital role in matching cryptocurrency buyers with sellers. The trade happens directly between two users’ wallets, with limited (if any!) input from a third-party.ĭecentralized exchanges can be a bit trickier to get the hang of, and they might not always have the assets you want. In most cases, there’s no depositing or withdrawing crypto. Sign up with your email, come up with a strong password, verify your account, and start trading cryptocurrency.ĭecentralized exchanges are like that, minus the hassle of sign-ups. Fantom is helping smart cities grow and develop, while Binance is helping its token’s value climb higher.You probably know the drill with cryptocurrency exchanges. This huge outflow of Bitcoin led to a reduced liquidity pool on all exchanges and forced Bitcoin to trade at a premium.īinance has the power to pump altcoins to the moon, and we’re looking forward to seeing the next token that lists head in that same direction. Binance was dubbed as the most secure crypto exchange around, so people losing faith in crypto exchange security could very well have been hinged on Binance. Just days after Binance was hacked, massive flows of Bitcoin started leaving crypto exchanges and heading into private crypto wallets. Did Binance Cause Bitcoin to Pump?īinance might have power over these small altcoins, but does it have the power to pump Bitcoin? Well, many people are starting to think that Binance was responsible for the recent Bitcoin pump. If we can learn anything from the Harmony listing event, it’s that these gains are simply FOMO and they won’t hold – so don’t go chasing profits that aren’t there. Since the mega pump, Harmony is down just over 8%, taking it back to more reasonable trading levels. While ONE continued to pump for several hours after the listing, they were gains not worth chasing. Last week we saw both Binance DEX and regular Binance list Harmony, an event that caused the token to explode by more than 800%. This is a cause that’s dear to the heart of Changpeng Zhao – Binance CEO – and could be why Binance made the move to list the token on its exchange. It has the power to connect billions of IoT devices throughout smart cities to help them run more efficiently. Fantom is a powerful distributed ledger technology (DLT) stack that’s designed to power the smart cities of the future. Powering Smart Cities Around the Globeįor those of you that have never heard of Fantom, you better familiarize yourself – it’s a name you’re going to hear a lot from now on. From there on out, it built on those gains, but at a steadier pace. In the hours following the listing, Fantom spiked a juicy 50%. This time around it was the turn of Fantom – which was already listed on Binance DEX – to make its debut on Binance. Binance has once again proven that it’s one of the most powerful exchanges on the planet, as yet another token listed on the platform sees mega gains.
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