Binance, the world's top crypto exchange by volume, has launched a new feature. It shows when token unlocks hit the market. The move could shake up how everyday traders evaluate tokens.
The feature integrates token unlocking and vesting data. It's a team-up with CoinMarketCap, a price resource. Binance bought CoinMarketCap in April 2020. The two have run separately since then.
What's token vesting? It's gradually dishing out virtual tokens to stakeholders. This includes investors and creators. It happens over a set time period.
Crypto projects often lock up token allocations. This can last for years. Why? To avoid flooding the market. It also keeps developers motivated. The project's success can impact token prices.
Fans say these processes boost predictability and also increase transparency in digital assets. Large token unlocks have jolted the market before. Holders fret about potential impacts.
A Binance spokesperson chimed in. "Token unlocks can sway prices," they told Decrypt. "Having this info at your fingertips is crucial."
The new feature aims to keep users in the loop. It shows each token's circulating supply. You can see unlocked and locked quantities too, percentages are there as well.
But wait, there's more. The platform displays upcoming scheduled unlocks and it even has countdown timers for each distribution. Talk about keeping traders on their toes.
The feature's already live on Binance's website. It'll hit the app soon too. Traders, get ready to level up your game.
This move could be a game-changer. It puts crucial data in users' hands. Will it lead to smarter trading? Only time will tell. But one thing's for sure – Binance is betting big on transparency.