Binance cryptocurrency exchange CEO Changpeng Zhao stated that the popularity of the asset is the main requirement for listing cryptocurrencies and tokens on the platform.
During an interview with Forbes, Zhao said that there are many criteria for listing an asset on the Binance exchange, but the most important is the number of users. The number of active wallets with these tokens, popularity on social platforms and developer activity are also important. But still, the main thing is the number of users:
“If a coin or token has a large user community, then we will add it. This is an extremely important parameter. For example, “coins-memes”. I do not understand them very well, but if a large number of people use them, then we will add such coins to our platform. We focus on the public, and my opinion does not matter. The activity of developers, groups in Telegram, subscribers, active addresses – all this matters, but the number of users remains the key parameter, ”Zhao stressed.
Binance CEO noted that projects that would like to be listed on the exchange should indicate user statistics in their applications. This will greatly speed up and simplify the listing of a coin or token. He also advised young projects to start with smaller sites in order to gain experience.
“Often, developers don’t understand this. They need to start by building a community. And this does not mean that you need to get 500 or 10,000 users in the Telegram group. It’s about a much larger audience, ”says Changpeng Zhao.
Currently, 346 coins and tokens are traded on Binance. Average daily trading volume exceeds $ 25 billion.
Earlier, Changpeng Zhao said he was not worried about Warren Buffett’s lack of interest in cryptocurrencies. The CEO of Binance noted that such investments are not suitable for everyone.