Slowly but surely, the cryptocurrency landscape in the US continues to evolve. Although a lot of regulatory decisions have yet to be made at this time, Binance US is slowly shaping up to become a domestic powerhouse. A fair few currencies have been added since the platform was launched, with some rather surprising additions trying to make a name for themselves in quick succession.
The Usual Suspects get Added
The list of additions to Binance US remains relatively short, for the time being. That is only to be expected, as this new venture has to contend with a fair few regulatory measures that can shake things up accordingly. Some of the higher-valued altcoins have been added since the launch of this platform. The early coins included Bitcoin, Ethereum, Bitcoin Cash, Binance Coin, XRP, USDT, and Litecoin. All of these choices made a lot of sense, simply because of their individual market caps and overall popularity.
Ever since, there have been a few sparse announcements as to which currencies will be added to this platform. These are still the early days, albeit some traders would have expected to see more currencies added in quick succession. In recent weeks, the platform has added Chainlink, Dash, ZCash, Cardano, 0x, Stellar and IOTA. All of these currencies make sense, as they have proven to be relatively stable and somewhat popular among traders all over the world. It is also intriguing to see this platform bank on privacy altcoins, as those have gotten a rather bad reputation in many countries.
Some Surprising Listings
When looking at the currently available trading markets for Binance US, it becomes apparent there are some surprising listings as well. The listing of Ravencoin, for example, could very well make a lot of traders scratching their heads. It is not necessarily the most popular altcoin by any means, but it has seen spurts of increased volatility in recent months. It is that type of volatility that tends to attract traders and earn trading platforms a lot of money in the process.
Another interesting addition is Algorand, This is another altcoin that isn’t exactly making major headlines for reasons other than potential unexpected price changes. Changing that narrative is not overly difficult, but it is evident the listing on Binance US will always make it a speculative asset first and foremost. The latest addition is BUSD, a stablecoin created by Binance itself. It was a matter of time until it would be added, although it remains to be seen how well it holds up on a platform where USDT remains the primary stablecoin until further notice.
Continuing the Building Process
Although Binance US has been around since September of 2019, it hasn’t exactly captivated a big audience just yet. This is primarily because of the very few currencies and assets available for trading right now, but also because the US isn’t that big a region for cryptocurrency trading in general. For now, the platform’s most popular trading pairs include USDT/UST, BTC/USDT, and BTC/USDT. No big surprises there, yet it will be interesting to see how these new additions will shake things up.