How does Binance define 'in use' in the world of digital currencies?

3 answers

• HERBERTI MWASHALASep 15, 2024 · 9 months ago
  Binance defines 'in use' in the world of digital currencies as the active utilization of a particular cryptocurrency within its ecosystem. This includes transactions, trading, and any other form of activity that involves the use of the cryptocurrency on the Binance platform. The more actively a digital currency is being used on Binance, the more 'in use' it is considered to be by the exchange.
  396

  198
• Tri WahyudiSep 10, 2020 · 5 years ago
  When it comes to defining 'in use' in the world of digital currencies, Binance takes into account various factors such as trading volume, liquidity, and the number of active users involved in transactions with a particular cryptocurrency. Binance considers a digital currency to be 'in use' if it meets certain thresholds and demonstrates a consistent level of activity on the exchange.
  386

  129
• OwgSep 14, 2022 · 3 years ago
  In the world of digital currencies, 'in use' is a term that Binance uses to describe the level of adoption and activity of a cryptocurrency within its platform. Binance considers a digital currency to be 'in use' if it is actively traded, has a significant trading volume, and is widely accepted and used by users on the exchange. This helps Binance determine the popularity and demand for a particular cryptocurrency within its ecosystem.
  439

  110