Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Binance => Topic started by: Husires on February 01, 2024, 01:05:24 PM
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https://www.binance.com/en/support/announcement/binance-launches-inscriptions-marketplace-2e95b31769104b6da4722ff305054e27
Binance has launched the Binance Inscriptions Marketplace — a one-stop solution hosted within the Binance Web3 Wallet — that allows users to inscribe and trade a wide variety of inscription tokens such as BRC-20 tokens, Ethereum Virtual Machine (EVM) tokens and more, within the Binance App.
The Inscriptions Marketplace is designed with accessibility and convenience in mind. It caters to all, from BRC-20 enthusiasts to those new to Web3, providing a secure and enjoyable experience. The introduction of the Inscriptions Marketplace is a welcome development for Binance Web3 Wallet, enhancing users’ journey through the decentralized web with its array of features.
Bitcoin transaction fees have increased in the past months, and many complained about them, but some found it to be an opportunity to earn some BRC-20 tokens, and with the entry of Binance into the market, the frequency of this spam may increase.
Highlights of Binance Inscriptions Marketplace:
- Seamless Transfers: You do not need any technical experience, and you only need one click.
- Endless Options: BRC-20 tokens, EVM-based tokens, and many more
- Faster Transactions: This is the problem as it means they will force you to pay higher fees which may raise the average transaction fees.
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Highlights of Binance Inscriptions Marketplace:
- Seamless Transfers: You do not need any technical experience, and you only need one click.
- Endless Options: BRC-20 tokens, EVM-based tokens, and many more
- Faster Transactions: This is the problem as it means they will force you to pay higher fees which may raise the average transaction fees.
I am not surprised with this move by Binance.
Binance recently listed ORDI token, the leading token in the Inscription space, now supporting BRC-20 tokens is just the next step. This helps give a hint: Inscription could be a big trend in the upcoming cycle.
Binance is trying hard to regain market share from its competitors: IEO, Launchpad, Launchpool and now Inscription market. All efforts will be rewarded 🎯
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Binance is trying hard to regain market share from its competitors: IEO, Launchpad, Launchpool and now Inscription market. All efforts will be rewarded 🎯
They are trying to chase profits wherever they are. They had an attempt to control the NFT and DEX market and it did not succeed, and I do not think that they will succeed in the Inscription Market. If Binance were to do something like Facebook, where they set their sights on successful companies and acquire them, they would have access to millions of dollars, but they follow successful projects and try to imitate them.
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They are trying to chase profits wherever they are. They had an attempt to control the NFT and DEX market and it did not succeed, and I do not think that they will succeed in the Inscription Market. If Binance were to do something like Facebook, where they set their sights on successful companies and acquire them, they would have access to millions of dollars, but they follow successful projects and try to imitate them.
I believe that Binance has its reasons to build the best solutions for the BNB chain ecosystem. Binance wants to provide a full range of trading services to users, developing its own NFT and DEX trading platforms is necessary and very convenient thanks to the reputation of Binance CEX: they can reach hundreds of millions current users of Binance. It also affirms the Binance team's ability to develop Dapps.
However, to be honest, Binance's NFT and DEX services have not really taken off and gained many users. For example, I am a user of Binance CEX, I often prioritize experiencing and using Pancake Swap instead of Binance DEX, even though PancakeSwap is also a product supported by Binance Labs.
I hope that Binance Inscription marketplace will be successful and capture the Inscription trading market share. Let's wait for a report from Binance about what the Binance Inscription marketplace has achieved.