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- Binance updates the token info system to include unlock schedules, enhancing transparency.
- The new Binance partnership with INHOPE aims to improve online safety using blockchain technology.
Binance is revamping how it shares token information, incorporating unlock schedules into market capitalization and circulating supply data. The update, effective February 14, aims to enhance transparency, allowing users to make more informed trading decisions.
Binance will now collect token unlock details directly from listed projects, ensuring a more comprehensive view of market data. The new system provides real-time access to unlock schedules via the Binance website and app.
Binance Introduces Token Unlock Schedules
According to Binance, the new methodology changes how market capitalization and circulating supply are calculated. Previously, market capitalization was determined by multiplying an asset’s liquidity by its price, while circulating supply only included publicly available tokens. Under the revised system, Binance will incorporate unlocked tokens into these metrics.
Market capitalization will now be calculated by multiplying the current price by the circulating supply, including unlocked tokens. If unlock data is unavailable, non-publicly accessible tokens will be excluded. Circulating supply will also reflect unlocked tokens, ensuring greater accuracy in tracking available assets. Users can access unlock schedules through the project overview section on Binance’s platform.
Binance stated that the update is designed to give users a clearer understanding of token release events. By integrating unlock schedules into market data, traders can anticipate supply changes that may impact asset prices. This shift aligns with Binance’s broader commitment to improving transparency and reliability in the crypto market.
Binance’s Regulatory and Security Initiatives
The transparency initiative is part of Binance’s broader effort to provide users with more comprehensive and reliable information, thus fostering a more informed trading environment. Binance is addressing regulatory and security concerns. CNF previously reported the company secured a 60-day pause in its ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC). The pause, granted by Judge Amy Berman Jackson, allows both parties to assess potential regulatory changes before proceedings resume on April 14.
The SEC recently formed a crypto task force under Commissioner Hester Peirce’s leadership to refine regulatory guidelines for the industry. Binance has been under scrutiny for alleged securities law violations, but the legal delay could signal a shift in the regulatory landscape. As the SEC works on clearer crypto regulations, Binance’s future in the U.S. market remains uncertain.
Additionally, as CNF reported, Binance has reinforced its commitment to online safety by partnering with INHOPE, an organization focused on combating online child sexual abuse material (CSAM) through advanced blockchain tracking. This partnership highlights Binance’s proactive steps towards creating a safer internet environment, leveraging blockchain technology to block illegal activities online.
Binance’s continuous efforts to refine its platform and cooperate with regulatory bodies and safety organizations underscore its dedication to providing a secure and transparent trading environment. With these updates and partnerships, Binance aims to set a new standard in the cryptocurrency exchange sector.
