Binance, the top crypto exchange, launches Live Trading on Binance Square, letting users watch and trade with creators’ strategies in real-time.
Binance’s new Live Trading feature for merchants is introducing the streaming culture to cryptocurrencies. The new feature will facilitate real-time commentary, enabling novice traders to acquire the strategies of seasoned traders.
Live Trading Feature Unveiled by Binance for Users
Binance, the world’s largest cryptocurrency exchange, has implemented a new live trading feature for creators on its platform. The new feature implemented on Binance Square’s social platform will enable verified creators to exhibit real-time trading strategies.
According to a press release, Binance users can observe their preferred cryptocurrency traders conducting spot and futures transactions via a live stream. According to Jeff Li, Binance’s Head of Product, the new live trading feature seamlessly incorporates real-time commentary and execution, combining crypto trading and streaming.
“We aim to establish a seamless experience that enables users to act on insights in real-time while also providing new opportunities for creators to share strategies, establish trust, and increase their impact,” stated Li.
Creators will have the opportunity to earn a 50% commission on trading fees and access various functionalities. The cryptocurrency exchange has announced that it will provide creators with supplementary benefits through livestreaming competitions and curated campaigns.
Conversely, users will derive advantages from actively engaging in transactions during live stream sessions. Users of the exchange can navigate through a Strategy Tab that contains the essential information regarding a specific trade without exiting the stream.
BNB Price Reaction
Following the announcement, the price of BNB has increased by more than 2% in the past day, currently trading at $677.50. In early May, Binance Pay and Bhutan announced a partnership, marking the continuation of its global rollouts.
A hive of activity for the world’s largest cryptocurrency exchange
In the past few weeks, Binance has been experiencing a surge in product introductions and collaborations. Last week, Binance Pay was integrated with Pix, Brazil’s digital payment platform, enabling local currency transactions.
The exchange has signed a contract with Kyrgyzstan to promote cryptocurrency adoption, in addition to the previously announced partnership between Binance Pay and Bhutan. Changpeng Zhao, the proprietor of Binance, encouraged Kyrgyzstan to incorporate BTC and BNB into its national reserve.
Moreover, Binance caused a stir in the cryptocurrency community by listing WLFI’s USD1 stablecoin, which had been the subject of months of speculation.