The San Fransisco registered division of Binance has announced the addition of NEO and Cosmos (ATOM) as their 22nd and 23rd cryptocurrencies.
Trading for the NEO/USD, NEO/USDT, ATOM/USD, and ATOM/USDT trading pairs will open on October 31, 2019, at 9:00 pm EST /6:00 pm PST.
The announcement had a historical affect on Bitcoin’s price. It was even more beneficial for some cryptocurrencies famous in China, like NEO and Tron [TRX]. While Tron still awaits listing at the US wing, NEO has taken the lead on that.
NEO gained nearly 100% following Xi Xinping’s speech. The price of NEO is still trading above 60% from its low at $6.6 on 23rd October.
The price of NEO at 3: 15 hours UTC on 31st October 2019 is $10.75. It is trading 3.3% higher on a daily scale. The price seems to be facing resistance from the 200- daily moving average at the moment.
Entry in the US Limited?
While Binance.com supports which serves customers globally lists a plethora of cryptocurrencies, Binance in the US does not have the freedom. NEO and ATOM will be only the 22nd and 23rd listed currency on their platform. Top cryptocurrencies like EOS, XRP, Bitcoin Cash [BCH], and Tron are still not added to Binance US.
Moreover, Poloniex will spin out of Circle and US from 1st November 2019. The regulatory agencies in the US have made it tough for exchanges as Bittrex and Poloniex have also made considerable changes to their platform.
Hence, it seems like Binance is ahead in dodging the regulatory hurdles to enter the US markets. The leading cryptocurrency exchange recently also enabled futures and lending on their global platform.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com