Binance, FTX And Poloniex Among Top 3 Exchanges To List Active Defi Tokens
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Binance, FTX And Poloniex Among Top 3 Exchanges To List Active Defi Tokens

August 10, 2020      Jyoti Singh

The Block Research published a report stating that Binance, FTX, and Poloniex are the top three crypto exchanges that have listed the most active decentralized finance (defi) tokens on their platform.

A week ago, out of 13 DeFi tokens, Binance listed nine on its platform which included Maker and Compound. Later, six of them were listed by the FTX in the Tier-1 category and 11 by Poloniex in the Tier-2 category.

Recently many of the traditional services of the banks have been linked to blockchain technologies to offer their customers a DeFi service. 

Notably, its community has been working on every available financial service like saving and checking accounts, loans, asset trading, insurance, etc. so that it could create an alternative for those services.

Coinbase To Include Two More DeFi- Tokens

Recently, Larry Cermak of The Block has informed that presently the San Fransisco-based crypto exchange, Coinbase, has listed four of the DeFi tokens .i.e., Maker, Compound, Kyber, and 0x, on its platform. Soon it would be adding Gemini and Bitstamp too on its platform, this would help them in attracting more volume onto its platform.

The report further mentioned that the exchanges with Tier-3 have also added almost all of the DeFi tokens present in the market. 

But according to Cermak, “These exchanges don’t have reliable volume and tend to be illiquid,”

Binance Listed BAL And Yearn

It has been notified in the report that since the time, the world’s largest crypto exchange Binance and San Fransisco-based exchange Coinbase has listed the DeFi tokens on its platform, they have experienced a surge in their price.

Recently, the BAL token of Balancer and Yearn was listed by Binance on its platform for trading. Soon both the tokens along with the YFI token of Finance experience an increase in their value by at least 50 percent. 

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#binance #Coinbase #Decentralized Finance tokens #FTX #Larry Cermak of The Block #Poloniex #The Block Research #Tier-1 category #Tier-2 category #Tier-3
Jyoti Singh
Jyoti Singh

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.