Keeping its users and the general cryptocurrency community informed has been Binance’s strong suit and has contributed to people associating the exchange with transparency. Binance is in the news yet again after Binance Singapore listed Litecoin [LTC], the fourth largest cryptocurrency in the world.
LTC, popularly known as the silver to the Bitcoin’s gold, was conceptualized for smaller and faster digital coin payments. Leveraging the digital coin’s existing features, Binance has cleverly tailored its services of buying cryptocurrencies with fiat money. By allowing trading of a definite number of digital coins such as LTC, the exchange aims to sustain its dominance in the world of cryptocurrency exchanges.
The launch of Binance Singapore is aimed at leveraging the 37th largest economy in the world, in terms of GDP. Listing Litecoin is a step in this direction.
Messari Crypto’s @fmoulin7 recently shared an interesting chart on Twitter,
“Is the market becoming more rational & demanding regarding transparent monetary policies? $XRP & $XLM have the lowest [circulating supply/outstanding supply] ratio from the top 10 and are the worst performing assets YTD. Could also be the potential competition from Libra.”
According to the chart, Litecoin recorded the best year-to-date performance by liquid market cap, after Binance’s native token, Binance Coin. The fact that Binance Singapore is well-positioned to leverage the growth of both digital coins is a step towards Binance’s increasing penetration of the cryptocurrency universe and crypto-revolution.
Despite recent troubles, Litecoin continues to be one of the best performing altcoins in the cryptocurrency market. If the coin continues to grow at this pace, the digital silver may soon be valued as digital platinum.