Binance’s Inscription Marketplace Adds ARC-20 Token Support, and Starts Fee-Free Trading
In Brief
Binance Inscription Marketplace now supports ARC-20–a fungible tokens, utilizing Atomicals Protocol on the Bitcoin network.
Cryptocurrency exchange Binance announced that its Inscription Marketplace has expanded its support to include ARC-20 tokens. This enables users to commence trading and transferring ARC-20 tokens effective today.
The ARC-20 token standard operates as a fungible token, utilizing the Atomicals Protocol on the Bitcoin network.
Furthermore, Binance will offer the trading of ARC-20 tokens on its Inscription Marketplace without any service fees for a temporary period. This promotional offer is valid for two months, starting April 3rd and concluding June 2nd, 2024.
“Our decision to support ARC-20 tokens trading is a direct response to our user’s interests. This move unlocks a realm of opportunities, giving users an easy, seamless, and secure way to explore the Atomicals Protocol and the vast possibilities of the inscriptions ecosystem,” said Sherrine Tan, product marketing lead at Binance.
Binance Inscription Marketplace Expands Token Support With UTXO Management Feature
Following the recent addition, the Binance Inscription Marketplace joins a select group of platforms supporting BRC-20, EVM, and ARC-20 tokens. This enhanced asset support is facilitated by a newly added feature that permits users to mark Bitcoin Unspent Transaction Outputs (UTXOs).
Considering the diverse array of inscription protocols on the Bitcoin network, effective management of UTXOs is important. In essence, this feature improves user experience by broadening the range of available assets and streamlining their utilization, relieving users of concerns regarding technical details.
The Binance Inscriptions Marketplace is a platform for purchasing, selling, and minting inscription tokens located within the Binance Web3 Wallet. It operates with the support of the BTC Transaction Accelerator, which enhances the speed of Bitcoin transactions on the platform. The marketplace utilizes the application programming interface (API) of Atomicals Market–a platform for ARC-20 tokens, to grant users access to various ARC-20 tokens.
The announcement follows Binance’s recent integration of the Solana network and the inclusion of specific Solana-based decentralized applications into its Web3 Wallet.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
