Tag: Binance

Binance Unveils Plans to List Bitcoin Ordinals on Its NFT Marketplace

Binance has been aggressively growing its NFT marketplace in a variety of ways in order to become a top platform for buying, selling, and trading NFTs. Binance, the world’s largest crypto exchange has expressed interest in adding Bitcoin Ordinals to its Non-Fungible Token (NFT) marketplace by the end of May. According to the announcement, Binance will also offer royalty support and additional revenue-generating opportunities for Bitcoin NFT creators. Bitcoin Ordinals are becoming popular and unique in the NFT ecosystem thus fueling the push by Binance to add it to its…

Bitcoin fee spike spurs shift to Lightning Network — Binance and Coinbase line up

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The recent surge in Bitcoin (BTC) transaction fees has lit a fire under one of the largest crypto exchanges to upgrade to the Bitcoin Lightning Network. Following a second halt in withdrawals, Binance announced it would work on “enabling BTC Lightning Network withdrawals, which will help in such situations.” To prevent a similar recurrence in the future, our fees have been adjusted. We will continue to monitor on-chain activity and adjust accordingly if needed. Our team has also been working on enabling BTC Lightning Network withdrawals, which will help in…

Binance Dives Into the Metaverse With BuildTheBlock Competition

The first edition of the Binance BuildTheBlock competition will feature 12 contests. The Binance exchange, the world’s largest digital currency trading platform has launched the BuildTheBlock competition, a reality TV show that it said will be streaming entirely in the metaverse. Tagged as the first of its kind, the BuildTheBlock competition is designed to help aspiring Web 3.0 entrepreneurs pitch their ideas to a panel of judges in a live audience. For the first time ever, we’re bringing the thrill of reality shows to the metaverse with #BuildTheBlock! Watch as…

Binance Adds Support for Bitcoin NFTs

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Binance NFT, which already supports NFTs on Ethereum, Polygon and its native BNB Chain, plans to expand its offerings by allowing traders to purchase Ordinals on the Bitcoin network. Collectors can soon buy and sell inscriptions, or NFTs created on the Bitcoin network, expanding the reach of the nascent Ordinals ecosystem. Original

Bitcoin ordinals hit Binance NFT Marketplace in latest update

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Bitcoin ordinals — also known as Bitcoin NFTs — have made their way into the limelight of the Web3 space, as more marketplaces continue to adopt and offer digital assets.  On May 9, the cryptocurrency exchange Binance announced that it will support Bitcoin ordinals on its NFT marketplace in late May. The development will expand Binance’s multichain NFT ecosystem to include the Bitcoin network. Previously the Binance NFT market integrated with other decentralized networks, including BNB Chain, Ethereum and Polygon. Mayur Kamat, the head of product at Binance, commented on broadening…

Binance Announces Lightning Network Withdrawal Implementation Amidst Bitcoin Network Congestion Issues – Exchanges Bitcoin News

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Binance has announced its intention of implementing Lightning Network, a layer 2 Bitcoin scaling protocol, on its platform after experiencing an episode of congestion regarding withdrawals on the Bitcoin network. The exchange had to pause bitcoin withdrawals twice due to a large backlog of operations stuck as a consequence of high transaction fees. Binance Announces It Is Working on Implementing Lightning Network Withdrawals Leading cryptocurrency exchange Binance has recently announced it is working to integrate Lightning Network, a bitcoin-based scaling solution, into its platform. The exchange made the…

Binance ‘FUD’ meets CPI — 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts a new week at the center of new crypto industry drama as the highest fees in two years pressure price action. Downside volatility is greeting traders thanks to a full mempool, and explanations point the finger at multiple parties. The largest exchange, Binance, is adding to the confusion, pausing BTC withdrawals several times over what it calls network “congestion.” Amid the turmoil, BTC/USD is showing signs of strain, breaking down from $28,000 to threaten an exit of its broader trading range. The events mark a flustered start…