Binance Most Active Crypto Exchange For Listing DeFi Tokens

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Binance (Courtesy: Coindesk)
Binance (Courtesy: Coindesk)

Binance emerged as the front runner among crypto exchanges which are most active when it comes to listing decentralized finance (DeFi) governance tokens, according to The Block Research.

FTX and Poloneix are among the other active crypto exchanges which are active. Among these Binance has listed nine out of 13 DeFi tokens, including Maker and Compound.

Meanwhile, FTX has named six listings and Poloniex is at the top in Tier-2 category with 11 listings. Coinbase has listed four DeFi tokens thus far — Maker, Compound, Kyber, and 0x.

Gemini and Bitstamp are yet to move — this reflects with their broader strategy of listing large coins that attract volume, according to The Block’s Larry Cermak.

There are also many Tier-3 crypto exchanges that have listed nearly all DeFi tokens. However, these exchanges don’t have reliable volume and tend to be illiquid, per Cermak.

DeFi tokens have been seen to jump in price after their listing on Binance or Coinbase. For instance, Binance recently listed Balancer’s BAL token and Yearn. Finance’s YFI token and both have increased by at least 50% since their listing.