Bitcoin and other factors were always primary drives for growth within the crypto industry, but in a few years already, the biggest exchange, Binance, has taken the lead in bringing the accessibility of crypto from one country to another.
In its latest move, Binance received a permanent business license to operate in Kazakhstan. Unknown to many, Kazakhstan is the second biggest crypto-mining country, generating 18% of Bitcoin’s hash rate, and has made attempts to legalize cryptocurrencies.
Why Binances’ growth is good for the industry
The exchanges’ hunger for growth has been insatiable. Despite other exchanges like Crypto.com cutting workers, Binance continues to hire talent. But more interestingly, Binance also picks up former government officials. For instance, David Plouffe, a former senior advisor to President Obama, and Adalberto Palma Gómez, former president of Mexico’s SEC, are now serving Binance to deal with increasing regulatory complexity.
In other words, Binance keeps pushing the industry forward as a whole, bringing clear regulation and accessibility to it. As a result, cryptocurrencies like Uniglo.io, Synthetix, and Cardano profit from the increased trading volume that the expansion brings.
Uniglo.io (GLO)
The ERC-20 token GLO is the center of Uniglo.io, a newcomer within the DeFi industry. The protocol utilizes the so-called ‘Ultra Burn’ to buy back and burn tokens, which in effect, raises the floor price and value for investors. Furthermore, it stabilizes the GLO token and weathers it for any storm that may hit the markets.
As it’s currently in its presale phase, the project is not yet listed on Binance but has formulated clear goals to achieve a listing.
Synthetix (SNX)
Synthetix has a vital role within DeFi, giving traders decentralized access to non-blockchain assets, such as commodities in a synthesized form. As a result, it creates a more mature cryptocurrency market and widens its exposure.
Cardano (ADA)
Cardano is home to the coin ADA, a decentralized blockchain using the PoS consensus mechanism. Founded by Charles Hoskinson and launched in 2017, intending to grow to a decentralized application (or short dApp) platform. With the latest upgrade, the Vasil hard fork, ADA will take a big step forward to bring smart contract development to the chain.
Conclusion
Even though the market is experiencing a cold winter right now, the Binance exchange keeps expanding its reach and, ultimately, has projects in tow like Uniglo.io, Synthetix, and Cardano. As a result, decentralized finance (or short DeFi) is profiting immensely from the exchanges’ growth and clear vision.
Learn More Here:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord:Â https://discord.gg/a38KRnjQvW
Twitter:Â https://twitter.com/GloFoundation1
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