According to cryptocurrency analysis company Layergg, two major exchanges, Binance and Bybit, are preparing for a second fight over listing. This follows Binance’s latest strategic shift in response to Bybit’s increasing market share.
Since Richard Teng took over as CEO at the end of last year, Binance has seen a significant increase in listings. As expected, these listings are primarily centered around “Binance Labs + IDO”.
There has also been a noticeable change in Binance’s Futures listing strategy. Last year the focus was on “Transitioning from Spot to Futures”. However, recently there has been an increase in private listings on Binance Futures, likely due to Bybit’s influence.
So far, Bybit has made similar moves to take a share of Binance’s market share. Projects such as ACE, NFT, AI, MANTA and ALT were listed on Bybit following Binance Launchpad.
In addition, Bybit also listed AUCTION and MOVR altcoins, which are only listed as spot on Binance, in futures.
In response to Bybit, Binance is strategically accelerating listings on Binance Futures and focusing on listings from Bybit Futures to its own futures. It is believed that Binance implemented such strategies in order to counter Bybit. These cycles have shortened, signaling that Binance’s countermeasures are intensifying.
Therefore, if there is market interest and sufficient trading volume, Bybit’s projects are likely to be listed on Binance Futures. Layergg currently lists DYM, MAVIA, and TAO altcoins as futures listing candidates on Binance.
*This is not investment advice.
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