Binance has been on a development warpath of late with multiple listing and announcements from various sectors, including the leading exchange as well as its subsidiaries such as Binance USA and Binance Singapore.
The Singapore branch of the world’s largest cryptocurrency exchange recently announced that it had listed Chainlink [LINK] on its platform. The exchange also stated that the LINK wallet was open and that trading had begun on Binance’s Singapore website. Binance Singapore’s official blog read:
“We will open trading for LINK/SGD trading pair at 19/11/2019 17:30 (SGT).
Risk warning: Cryptocurrency investment is subject to high market risk. Please make your investments cautiously. Binance Singapore will make best efforts to add more high-quality coins, but will not be responsible for your investment losses.”
The listing announcement did not do much for Chainlink’s value as the 15th ranked cryptocurrency has taken a hit after an 8.28 percent fall in the 48-hour time frame. At the time of writing, LINK was trading for $2.69 with a total market cap of $942.375 million and a 24-hour market volume of $150.378 million.
Chainlink is an ERC-677 token and can be stored on any platform that supports ERC220 tokens. A majority of users recommend using a hardware wallet to avail full potential of LINK token.
Chainlink had a different start to the year as it was trading for barely $0.25 on the charts. At its highest peak during the year, the cryptocurrency sold for $4.80 per token generating a 1614 percent ROI from the lowest price to the highest price, Some analysts have said that the cryptocurrency has a chance to break its current bear mold and run off into bullish pastures. The Wolf Of All Streets, a crypto analyst tweeted:
Danger, Will Robinson. Bulls want to see the ascending support of this wedge hold and will be looking for a potential hidden bull div (blue) to signal an end to the clear bear div. This is definitely the moment of truth (for now) for the USD pair.”
Binance’s focus in Singapore has also been partly due to its founder and Chief Executive Officer [CEO] Changpeng Zhao. The CEO has been a vocal proponent of the country’s cryptocurrency regulations and has even said that the Government of Singapore had an ‘in-depth understanding of technology.’
As adoption in countries like Singapore is on the rise, China is taking a harsher stance, as evidenced by Binance’s Weibo account being blocked recently. Users who tried to log in were met with a notice that read that the content was removed as per orders from the Weibo Community Convention.
Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.