A web3 membership designed to empower you with cutting-edge insights and knowledge, powered by Access Protocol. Learn more ›
Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.
If you don’t have enough, buy ACS on the following exchanges:
Access Protocol is a web3 monetization paywall. When users stake ACS, they can access paywalled content. Learn more ›
Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.
Bitcoin NFTs remain popular within the broader crypto industry despite Binance’s decision.
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Crypto exchange Binance said its non-fungible token (NFT) marketplace will discontinue support for Bitcoin NFTs by April 18, per an April 4 statement.
According to the exchange:
“Starting from 2024-04-18 06:00 (UTC), users will no longer be able to buy, deposit, bid on, or list NFTs on the Binance NFT Marketplace via the Bitcoin network. All impacted listing orders will be automatically canceled at 2024-04-18 06:00 (UTC).”
It added that its platform would stop supporting airdrops, benefits, or other utilities associated with the NFTs by April 10.
Notably, this decision is coming less than a year after the platform enabled support for these digital assets.
Binance explained that its decision was part of “ongoing efforts to streamline product offerings” in its NFT marketplace.
The firm did not comment on whether trading volumes or user demand affected its decision to end those services.
The exchange launched the NFT marketplace in 2021 amid the crypto market boom. While the marketplace enjoyed early successes due to its association with the exchange and football superstar Cristiano Ronaldo, the platform has struggled for considerable adoption compared to rivals like Blur.
Besides that, Binance is navigating regulatory issues across several jurisdictions, including the United States, where it agreed to pay a record fine of more than $4 billion and stop operating within the country.
These regulatory upheavals have prompted a rethink of the exchange’s operating style and the appointment of a seven-member board of directors led by Gabriel Abed, the former ambassador of Barbados to the UAE.
Bitcoin-based NFTs have grown remarkably during the past year, fueled by the rising fascination with Ordinals.
Asset management firm Franklin Templeton pointed out that the innovations within Bitcoin’s ecosystem were primarily fueled by “Bitcoin NFTs, known as Ordinals, new fungible token standards such as BRC-20 and Runes, Bitcoin Layer 2s, and other Bitcoin DeFi primitives.”
Notably, data from CryptoSlam shows that Bitcoin’s NFT sales amounted to $6.37 million within the past 24 hours, marking the second-highest figure in the industry.
Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
Follow us on X for instant crypto news and insights updates.
CryptoSlate’s latest report dives deep into Bitcoin options to better understand how they affect market sentiment and predict future movements and investor expectations.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Unicapital equips you with AI-powered tools, education, and a user-friendly platform to make informed decisions and win in today’s markets.
Essential crypto updates and analyses. Straight to your inbox, every day.
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2024 CryptoSlate. All rights reserved. Disclaimers | Terms | Privacy
Please add “[email protected]“ to your email whitelist.
Stay connected via
source
Source: www.cryptoslate.com
