Compass Investments

– Listings on cryptocurrency exchanges have led to an increase in token prices.

Binance has suddenly become a supporter of Cardano.

Like it or not, centralized exchanges (CEX) play an important role in the cryptocurrency sector, where a listing can inflate token prices and change the trajectory of a project overnight.

There is growing speculation that Binance, the largest exchange by trading volume, will soon list and sell a number of native Cardano tokens (CNT). If this is indeed the case, it would provide a significant boost to the Cardano ecosystem, giving it a much-needed presence and liquidity.

it seems that Binance has moved to Cardano, leading to speculation about a potential CNT listing. This potential move could greatly increase liquidity and draw more attention to the Cardano ecosystem.

The speculation reached a fever pitch when Binance was announced as a sponsor of the Cardano Summit, and it was revealed that CEOs Richard Teng and Frederick Gregaard were to hold a fireside chat to discuss the sustainability of the organization. Cardano Summit will be held in Dubai from October 23-24.

Binance CEO @_RichardTeng and our CEO @F_Gregaard will discuss Building a Sustainable and High Performance Organization.

While no official announcement has been made about CNT listing on Binance, Teng wrote the day after Cardano Summit, “Which market is next?.

Operator Stake Pool ‘Stake With Pride’ urged subscribers to “read the tea leaves” and hinted at what might happen next, while Web3 researcher ‘decypher’ was even more blunt, stating that “they are ready to invest big money in native Cardano tokens, a conversation that further fueled the discussion.

Despite hundreds of projects created on Cardano in areas such as NFT-, insurance, artificial intelligence and housing, there is currently no CNT listing on Binance. The lack of an exchange limits the visibility and growth potential of these projects.

the lack of listing on major exchanges is also reflected in CNT’s relatively low 24-hour trading volume. For example, SNEK and IAG recorded the highest trading volume in the last 24 hours at ADA 1,453,000 (USD 558,000) and ADA 708,000 (USD 269,000) respectively. These figures lag far behind competing projects, indicating the need for increased awareness.

In May, the SNEK community filed a petition on Change.org, advocating for a listing on Binance. However, the petition has garnered less than 15,000 signatures so far, underscoring SNEK’s struggle to list on a major exchange.

Listing on an exchange may raise prices in the short term, but sustainable growth comes at the expense of utility and penetration.

The stagnation of the Cardano ecosystem has been blamed on factors such as lack of marketing, lack of broad integration into the ecosystem and lack of support from the major USD stablecoins.

Listing CNT on Binance will change the Cardano ecosystem by increasing liquidity and mainstream interest.