According to Changpeng Zhao, the crypto exchange takes into account various indicators, such as the number of active addresses on the blockchain, audience on social networks and regular updates of the technical part of the project.
Changpeng Zhao, CEO of the world’s largest crypto exchange by trading volume, Binance , explained in an interview with Forbes how the trading platform selects tokens for listing.
According to Zhao, the key factor for adding cryptocurrency to the site is the number of users. The crypto exchange also takes into account other indicators, such as the number of active addresses on the blockchain, the audience on social networks, and regular updates of the technical part of the project.
“If a coin has a large number of users, we will list it. This is an extremely important attribute. Consider, for example, “meme” tokens, although I personally do not understand them,
but if they are used by a large number of users, we add them to the site. We are guided by the opinion of the community, my opinion does not matter, “- explained the head of Binance.
Zhao gave similar explanations in June of this year. According to him, a large number of users indicates that the project has real value.
This is one of the main indicators of value, which is easy to measure, noted the head of Binance. He also recommended that developers include user statistics when applying for a listing.
In most cases, the price of tokens rises sharply after being listed on Binance. Over the past few months, the crypto exchange has added a number of digital assets that have risen significantly after listing.
For example, the DAR token has risen in price by 72,900%, the Beta Finance price has increased by 6500%, the LAZIO token price has increased by 2280%, and the dYdX decentralized exchange token has risen in price by 1100%.
