Binance Monthly Review, Edition 47: All About NFTs
While the FUD kept coming, we kept building. In June 2021, we launched the Binance NFT marketplace as well as our decentralized Featured by Binance marketplace, successfully combated cybercrime across the globe and invited all Binancians to celebrate our upcoming #BinanceTurns4 anniversary event. Here’s everything you need to know about our big month.
June Market Recap: Some Ups and Downs... And Ups Again
June was an up-and-down month for cryptocurrencies as the total crypto market cap dipped more than 13%, from ~$1.63B on June 1, 2021 down to ~$1.41B at the time of writing.
Bitcoin (BTC) briefly fell to a low of ~$28,890 before rebounding to mid-$30,000s. It currently trades at ~$34,300 as of June 30. As the second quarter winds down, Bitcoin has seen its prices pull back significantly from its April 2021 all-time high of around $65,000.
During the same period, Ethereum (ETH) fared slightly worse than Bitcoin. On June 8, it rallied to a monthly high of around $2,855 before falling to a low around $1,769. At the time of writing, Ethereum trades at around $2,265.
Despite the sluggish month for the cryptocurrency market as a whole, it’s important to note that one year ago, Bitcoin and Ethereum were trading at around $9100 and ~$230 respectively. This marks a gravity-defying increase of around 270% over a one year period for Bitcoin, and around 885% for Ethereum.
The Big Story: All About NFTs
1. Binance NFT Marketplace is LIVE
On June 24, we officially launched the Binance NFT Marketplace—the ultimate destination for NFTs and digital collectibles—featuring a world-class lineup from regional creators to influential names and brands, exclusive ‘Premium Event’ auctions, and NFT mystery boxes. We’re making rare and unique NFTs accessible for everyone, from newbies to seasoned collectors, with low transaction fees, fast processing times and content from your favorite creators and brands. Visit Binance NFT to start your NFT collection.
2. Featured by Binance is LIVE
Prefer your NFTs… decentralized? In addition to Binance NFT, we also launched Featured by Binance, a non-custodial, on-chain platform for NFT artists, collectors, and fans. Featured by Binance will partner with global brands to launch one-of-a-kind digital assets while NFT collectors and creators will be able to easily trade, mint, and create NFTs.
Head over to Featured by Binance for exclusive NFT content, including a collection from Dylan Cole, the creator of iconic environments such as Mordor for Lord of the Rings and Pandora for Avatar.
Curious which NFT marketplace is right for you? Check out our handy breakdown below comparing Featured by Binance to Binance NFT.
What’s Ticking On The Exchange
- Binance retains its 25% trading fee discount. As a token of our appreciation for our users, we will extend the option for users to receive a 25% discount on trading fees when paying by BNB.
- New Listings: NyCypher (NU), Gitcoin (GTC), Tornado Cash (TORN), Keep Network (KEEP), and Klaytn (KLAY). Innovation Zone Listing(s): Ethernity Chain (ERN).
- New Launchpool Projects: Automata (ATA) and Klaytn (KLAY).
Other News Beyond The Exchange
- Binance P2P Updates Fee Structure. Our peer-to-peer platform will update its fees structure starting July 1. Binance P2P will maintain 0 fees for takers, while charging makers who post ads a nominal 0% to 0.35% in transaction fees, depending on fiat markets and trading pairs. (Read more)
- Dual Investment Launches 47th, 48th and 49th Phases. The latest phase features Dual Investment products with higher interest rates of up to 77% APY. (Read more)
- NFTs, NFTs and more NFTs. Need we say more about our new NFT marketplaces Binance NFT and Featured by Binance?
...Did We Mention Our Birthday Is Coming Up?
Whether you’re a longtime user or newcomer, thank you for supporting us over the past 4 years. When we first set out to increase the freedom of money around the world, we never expected to discover and help assemble one of the largest and most passionate crypto communities in the world. As a thank you to all registered Binance users, we’re throwing a huge party to celebrate. Here’s everything that’s happening:
- Build to the Moon Concert Experience. Celebrate with us and Binance users from around the world at a special live concert event on July 14, from 1-4PM (UTC). Watch superstar musicians perform, participate in giveaways, join a live AMA from CZ, and much more from the comfort of your web browser. (Read more)
- Binance Awards are back! The Binance Awards will be held during our July event to show our gratitude to the community for sticking with us through the highs and lows. (Read More)
- Ask CZ your top questions. Got some questions to ask CZ? There’s still time to tweet a video of you asking CZ your question. Then tune in on July 14 to see if your question gets picked! (Read more)
Highlights By The Week
Week 1 Highlights
- Binance NFT marketplace reveals more creators. Guti, Lil Yachty, Kyle and more… (Read more)
- Hackathon: Decentralized Africa. Binance Smart Chain partnered with Bundle to host a hackathon featuring more than $30,000 in prizes. (Read more)
- Binance Millions winners announced. Shoutout to @ritapearl3, @itsminminz and @nft_neomoon for submitting some absolutely killer original content. (Read more)
Week 2 Highlights
- El Salvador officially recognizes Bitcoin as legal tender. Which country’s next? (Read more)
- Binance NFT announces 100 Creators Program. To promote diverse voices and perspectives, Binance NFT teamed up with 100 regional creators to debut artwork on the marketplace. (Read more)
- Featured by Binance revealed. Seamlessly integrated or decentralized? Whichever way you want your NFTs, we’ve got you covered. (Read more)
- Want to get your projects listed on Binance? See some listing tips from CZ. (Read more)
Week 3 Highlights
- Binance NFT announces more creators. Featuring NFT content from Big Time, Timmy Trumpet, Rivaldo Ferreira, and OG Esports. (Read more: I, II)
- Learn how to trade Futures. Check out our new Futures tutorial page that includes a step-by-step guide to help you get a (fair) edge in the market. (Read more)
- Binance Smart Chain introduces Martian Program. When the moon is not enough… send #BSCTOMARS. There’s still time to apply for BSC’s community builder program. (Read more)
Week 4 Highlights
- Binance earns letter of commendation from UK Organized Crime Unit. Continuing our strong track record of assisting law enforcement agencies around the world with cybercrime investigations. (Read more)
- Binance helps take down $500M cybercriminal ring. We will continue to ensure the safety and security of the international crypto ecosystem as it continues to develop. Stay #SAFU. (Read more)
- Announcing the Binance Influencer of the Year Award Nominees. Congratulations to the nominees @intocryptoverse, @MustacheTommy, @papacthulu, @ugliestduck and @ZakaWaqar! (Read more)
Level Up Your Crypto Game (With Academy Articles)
- How to analyze today’s market sentiment. Market sentiment moves… well, markets. Find out how you can understand the amount of hype or fear surrounding a specific cryptocurrency. (Read more)
- Custodial vs Non-Custodial NFTs. Not all NFTs are made the same. Just how much custody do you need (or want) when it comes to NFTs anyway? (Read more)
- BSC vs ETH. Learn the ABCs when it comes to Binance Smart Chain and Ethereum. How are they similar? Where do they differ? (Read more)
- What is BUSD anyway? Like the United States Dollar (USD), but the B stands for Binance (Read more)