Binance Acknowledges Bitcoin NFTs on Its Marketplace


Bitcoin NFTs have been the talk of the cryptocurrency world, and Binance, the biggest cryptocurrency exchange in the world, has decided to join the fray. The exchange declared that it would be introducing support for Ordinals inscriptions on its NFT marketplace in response to the increased interest.

Later this month, Binance will allow Bitcoin NFTs access. Users of Binance won't require a separate Bitcoin wallet in order to buy and sell Ordinals, the exchange said in a statement. The most recent innovation will enable users to conduct transactions without any problems.

Following the integration of Ethereum and Polygon, the addition of Bitcoin NFTs to Binance's NFT marketplace represents a major extension of its multichain ecosystem. Polygon was the most recent product to enter the market before Bitcoin. The addition of support for Bitcoin, the largest cryptocurrency by market capitalization, is a significant addition, according to Mayur Kamat, Head of Product at Binance. He went on to say,

“Bitcoin is the OG of crypto. We believe things are just getting started here and can’t wait to see what the future holds in this space.”

Binance offers Bitcoin as compensation.

Both Binance and Bitcoin had a turbulent weekend. The cryptocurrency exchange twice stopped Bitcoin withdrawals. The community was concerned about the exchange's viability while this problem was being resolved. However, Binance's most recent addition might help to meet the rising demand for Ordinals.

The recent announcement by Binance that Bitcoin Ordinals trading is now permitted on its platform may result in an increase in trading volumes. The huge user base of the exchange—more than 100 million active users—is to blame for this. There has already been a lot of demand for and trading activity in Bitcoin Ordinals. The launch of trading on Binance may reinforce this tendency even more

As of right now, investors are becoming more and more interested in BRC-20 tokens issued on the Bitcoin blockchain using the Ordinals protocol, as seen by the fact that their market value has surpassed $600 million.



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