Cardano is paired with the world’s second-largest stablecoin to trade in Binance.US, an American subsidiary of the Binance exchange. Besides ADA, its competitor Solana [SOL] too can be traded against the stablecoin, the announcement read.
Binance.US has noted that the inclusion of the two leading altcoins is aim to achieve “scalability, interoperability, and sustainability.”
Just the other day, the trading platform announced getting rid of trading fees for ether (ETH), as part of its plans to expand its zero-free program beyond just bitcoin [BTC].
In an effort to draw in more users, the exchange, which is a division of the biggest cryptocurrency exchange by volume, eliminated bitcoin trading fees in June.
Following FTX’s fall from grace that spread a wave of skepticism in the cryptocurrency industry, JPMorgan predicted last month that centralized exchanges will continue to control the majority of digital asset trading volumes.
This week, Binance.US also made a launch announcement for American Samoa and Guam, two new US territories. Additionally, it obtained its Money Transmitter Licenses [MTL] in Louisiana, bringing the total number of secured MLTs in the States to 43.
In terms of the newest tokens pair, the platform added support for ADA staking in early September. Cardano and Solana occupy 9th and 18th places by market capitalization, respectively, according to data provided by cryptocurrency ranking firm CoinGecko.
Cardano has gained multiple adoptions off late. As reported by TronWeekly, ADA, along with Polkadot [DOT], and Tezos [XTZ] were also listed on the spot and derivatives BitMEX exchange.
ADA’s DeFi TVL activity also spiked.
Cardano’s EVM & Sidechain Would Boost Up DeFi
Per CryptoCompare, the blowout led to an increase in the platform’s average daily active user base. The total number of Cardano’s daily active users increased by over 15% last month to 75,800, the highest figure since May.
Similar to this, Cardano network monthly transactions increased 5.34% to 2.32 million last month, which was the highest monthly transaction volume since April. According to data from the cryptocurrency’s network, the number of wallets there surged by over 100,000 last month.
Cardano supporters, the report adds, are anticipating that the introduction of several new advancements, such as sidechains, Cardano’s Ethereum Virtual Machine, and its privacy-focused sidechain Midnight, would increase the usefulness of the network’s DeFi ecosystem.