Cryptocurrency exchange Binance has announced that it has completed the 16th APENFT (NFT) airdrop, which concerns holders of 5 altcoin projects. The cryptocurrency exchange shared the rules and details of the airdrop on its website.
Binance completes its 16th APENFT airdrop
Binance, the world’s largest cryptocurrency exchange, has completed the 16th variant of its APENFT (NFT) airdrop to TRON (TRX), BitTorrent OLD (BTTOLD), BitTorrent (BTTC), JUST (JST) and WINkLink (WIN) holders. Accordingly, the crypto exchange stated that users can confirm the receipt of these tokens through the Distribution page under Process History.
In this middle, the snapshot for the airdrop event was taken on September 10, 2022 at 15:00 CEST, based on the block level of 44,077,377 TRON. Binance has also announced the minimum token prices based on this snapshot to qualify for the NFT airdrop. Accordingly, users must have the following balance during the snapshot.
- 100 TRX,
- 2,000 BTTOLDs,
- 2,000,000 BTC,
- 100 JST
- 15,000 WIN
In addition, pending process commands are added to the calculation of this balance. Binance stated that users need to make sure that they do not select the “Hide Small Balances” option in order to view their NFT token balance in the “Fiat and Spot” wallet.
Bernstein says Binance failed
Bernstein said in a research report on Monday that Binance is solid, liquid and stable, which is evident in the exchange’s more than $55 billion in verifiable cold wallet addresses. According to the report, the crypto exchange may ‘pass the withdrawal test’, as it did when $ 6 billion in customer funds were withdrawn on December 13.
“Binance’s undisputed market leadership is not a coincidence,” the report says. It is also noted that the exchange unites customers through hacks and regulatory challenges. The exchange currently accounts for around 75% of the global crypto trading market. Bernstein says Binance is facing two challenges. First, owning a Cayman Islands-based offshore holding company means it has to take ‘smooth steps into the on-shore structure’, even if short-term business is worth it.
Second, following the demise of crypto exchange FTX, it has now become a ‘virtual monopoly on global crypto trading’. While it cannot do much about its monopolistic position, competition may now arise from decentralized exchanges as traders can seamlessly diversify their activities into self-storage and decentralized trading platforms. Binance will continue to seek licenses in multiple jurisdictions. So far, it has received licenses from 14 countries, including France, Italy, Spain and Canada.
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