{"id":374289,"date":"2021-11-30T13:24:48","date_gmt":"2021-11-30T10:24:48","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-ceo-reveals-one-key-factor-for-token-listings\/"},"modified":"2021-11-30T13:24:48","modified_gmt":"2021-11-30T10:24:48","slug":"binance-ceo-reveals-one-key-factor-for-token-listings","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-ceo-reveals-one-key-factor-for-token-listings\/","title":{"rendered":"# Binance CEO reveals one key factor for token listings"},"content":{"rendered":"

“# Binance CEO reveals one key factor for token listings <\/strong>”
\n<\/p>\n

The CEO of Binance, the world\u2019s largest cryptocurrency exchange by volume, has disclosed some information on how to get listed on the trading platform.<\/p>\n

The most important criteria for listing a cryptocurrency on Binance is the number of users, CEO Changpeng Zhao said<\/a> in a Forbes interview on Nov. 29.<\/p>\n

CZ went on to say that there are many other factors like the number of active addresses on blockchain, social media<\/a> audience and code commits. However, the number of users is \u201cthe key metric,\u201d he said:<\/p>\n

\u201cIf a coin has a large number of users, then we will list it. That\u2019s the overwhelming significant attribute. Consider for example meme tokens, even though I personally don’t get it, if it’s used by a large number of users we list it. We go by the community, my opinion doesn\u2019t matter.\u201d<\/p><\/blockquote>\n

According to Binance\u2019s listing tips<\/a> from its CEO, the number of users is just one of many factors for listing a token on the crypto exchange. \u201cIf you have a large number of users, your product has value. That\u2019s the easiest to measure. Do include the user statistics in the app<\/a>lication form. It will help significantly,\u201d the CEO\u2019s statement on Binance listings reads.<\/p>\n

According to Sergei Khitrov, founder of crypto listing-focused platform Listing.Help, major crypto exchanges like Binance don\u2019t need to list minor tokens as they earn mainly from trading volumes rather than listings.<\/p>\n

\u201cThis is one of the main problems that many projects do not understand. They should start with building a community. And that means no 500 or 10,000 people in a Telegram channel, but a much larger audience,\u201d Khitrov told Cointelegraph. He added that token creators are recommended to start from smaller exchanges.<\/p>\n

At the time of writing, Binance exchange supports a total of 346 cryptocurrencies, including major cryptocurrencies like Bitcoin (BTC) and Ether (ETH), as well as popular meme tokens like Dogecoin (DOGE) and Shiba Inu (SHIB), according to data<\/a> from CoinGecko. Binance\u2019s daily trading volume is estimated at $28 billion.<\/p>\n

In comparison, OKEx, the second-largest crypto exchange by trading volumes, has listed<\/a> 312 coins and has a trading volume of roughly $7 billion. The United States-based crypto exchange Coinbase supports<\/a> just 123 tokens with a daily trading volume of about $6 billion.<\/p>\n

Some major centralized exchanges (CEX) have more tokens listed than Binance does, with Bittrex listing<\/a> over 450 cryptocurrencies at the time of writing.<\/p>\n

Related: <\/em><\/strong>Kraken exchange defies competitors\u2019 regulatory concerns with SHIB listing<\/em><\/strong><\/p>\n

As opposed to a CEX, decentralized exchanges (DEX) are the world\u2019s biggest platforms in terms of the number of listed cryptocurrencies as DEXes like PancakeSwap<\/a> do not require contacting an exchange or asking permission. As such, PancakeSwap, a DEX running on the Binance Smart Chain, has over 3,200 listed<\/a> tokens, while Uniswap lists<\/a> over 1,800 cryptocurrencies.<\/p>\n

Last month, PancakeSwap listed the Squid Game<\/a> (SQUID) token, a cryptocurrency scam inspired by the eponymous Netflix show, which posted over 45,000% growth in a few days after launch. The token is listed on Binance-owned crypto website CoinMarketCap, while competitors like CoinGecko retracted from listing SQUID due to being \u201cmost likely a scam.\u201d <\/p>\n