Markets News Report
April 03, 2024

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.

Binance's Inscription Marketplace Adds ARC-20 Token Support, and Starts Fee-Free Trading

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.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, 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.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, 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.

Hot Stories
Join Our Newsletter.
Latest News

The DOGE Frenzy: Analysing Dogecoin’s (DOGE) Recent Surge in Value

The cryptocurrency industry is rapidly expanding, and meme coins are preparing for a significant upswing. Dogecoin (DOGE), ...

Know More

The Evolution of AI-Generated Content in the Metaverse

The emergence of generative AI content is one of the most fascinating developments inside the virtual environment ...

Know More
Join Our Innovative Tech Community
Read More
Read more
BNB Chain To Integrate Native Staking On BNB Smart Chain Post Beacon Chain Sunset
Markets News Report Technology
BNB Chain To Integrate Native Staking On BNB Smart Chain Post Beacon Chain Sunset
April 25, 2024
Scallop To Enter Testing Phase Next Week With Reallocation Of SUI Supply Rewards
Markets News Report Technology
Scallop To Enter Testing Phase Next Week With Reallocation Of SUI Supply Rewards
April 25, 2024
Mocaverse Launches MOCA Community Sale On CoinList, Offers Over 126M Tokens For Purchase
Markets News Report Technology
Mocaverse Launches MOCA Community Sale On CoinList, Offers Over 126M Tokens For Purchase
April 25, 2024
Tenet Gears Up To Launch Its Mainnet In Three Phases, Introduces Interstellar Incentive Token
News Report Technology
Tenet Gears Up To Launch Its Mainnet In Three Phases, Introduces Interstellar Incentive Token
April 24, 2024