Binance Weekly Report: Looking Ahead to 2021
In this weekly report (December 26, 2020, to January 01, 2021): CZ shares his thoughts on the new year, we look back at our 2020 milestones, and Binance launches European-style Vanilla Options.
Crypto Market Overview: Bitcoin Nears $30,000 As We Enter 2021
Bitcoin is ending the year strong, with a steady rise from $24,000 on Saturday to $29,300 on Saturday, fueling anticipation of a rise to beyond $30,000 as we enter the new year. This steady rise for BTC has affected a lot of major cryptocurrencies. Ethereum rose from $600 on Saturday to about $740 on Friday, while BNB rose from $32 to $38 over the week.
The rise of Bitcoin and altcoins brought the total market capitalization of cryptocurrencies from $655 billion to $773 billion.
For more crypto-related news and updates, head over to the Binance News service. We now move to updates from the Binance ecosystem and beyond.
From the Binance Team
1. Binance in 2021: Innovating in an Increasingly Decentralized World. In this letter, our CEO CZ shares his reflections looking back at 2020 and our goals for the new year, including trends and developments that may define the industry and focus areas for 2021.
2. Watch Now: The Tipping Point | Binance 2020. 2020 has been a year like no other. Today, we find ourselves at a tipping point. But despite these headwinds, the crypto space is gaining new momentum. We came together when it mattered most—but it’ll take all of us, working together, to reach the tipping point. Watch our take on the year that just wouldn’t end.
3. Binance 2020 Milestones: The Tipping Point. In 2020, we saw the resurgence of Bitcoin and crypto amid shifting tides in world markets, as well as the emergence of decentralized financial solutions. Binance has moved from strength to strength this year, serving as a bridge between fiat and crypto, between centralized and decentralized finance, and between the past and the future.
4. Are Crypto Exchanges Safe? How to Choose an Exchange You Can Trust. The ever-growing cryptocurrency market has a significant demand for high quality and trusted exchanges. But how do you find an exchange you can trust when there are more than 200 of them? What are the criteria that make a trusted exchange?
Binance Futures/Options/Margin Updates
5. Binance Launches European-style Vanilla Options. The options are priced and settled in USDT, and offer users more choices to diversify their portfolio and manage their market exposure. Users can both buy the options for hedging and trading, as well as write and sell options as an issuer.
6. Updates to Binance Coin-Margined Futures Contracts. On 2020/12/31 at 7:00 AM (UTC), Binance Futures adjusted the insurance clearance fee of coin-margined contracts to align with USDT-margined contracts.
7. Cross Margin Trading for ALGO, CRV Enabled on Binance.
8 Binance Futures Launched USDT-Margined BNT, UNFI, CHZ Perpetual Contracts with Up to 20X Leverage.
Binance Exchange Updates
9. COMPLETED AIRDROPS: Cobak (CBK) Airdrop Program for MovieBloc (MBL) Holders
10. Zero Maker Fee Promotion for GBP trading pairs on Binance. We offer a Zero Maker Fee to all existing and future GBP quote and base trading pairs from 29 December 2020, 09:00 AM (UTC) to 31 March 2021, 23:59 PM (UTC).
11. Earn Up to 12% APY on BRL, DUSK, and EGLD with Binance Savings. We added BRL, DUSK, and EGLD to the list of supported assets on Binance Savings, value-added service to Binance users who hold idle digital assets.
12. Binance Pool launches 23rd Phase of dual savings products for BTC, USDT, and BUSD.
13. Binance Loans Adds Borrowable Assets 1INCH & RUB.
14. Binance Completes Stratis (STRAX) Token Swap. We completed a token swap for Stratis (STRAX) on 2020/12/31, and opened STRAX deposits and withdrawals.
15. Binance Staking Launches SUSHI Super Rewards with up to 24.49% APY
and COS and WAVES Staking with up to 29.45% APY.
16. Adjustment to Interest Distribution Period for Binance Locked Staking. Starting from 2020/12/26, the interest of all Locked Staking products will be distributed on a daily basis.
17. Binance Launches Binance Broker Benefit System
18. We Suspended COVER Trading and COVER Deposits. Due to a significant exploit found in the COVER smart contract, we suspended trading for all COVER trading pairs on 2020/12/28 at 12:40 PM (UTC) to protect Binance users.
19. Updated COVER Incident Resolution Plan. Binance will utilize the Binance SAFU Fund to recompense a total of $10,107,505 USD (distributed in 8,171,634.10 BUSD and 2,581.16 ETH) to affected and eligible users. Read the announcement for more info. 20. Notice Regarding the Delisting of COVER-Old and Upcoming Distribution of COVER-New
BNB Smart Chain Updates
21. BSC Project Spotlight: Injective Protocol. The Project Spotlights series is where we’re interviewing projects developing on BNB Smart Chain (BSC). The next latest project you can learn about is Injective Protocol, powered by Binance Launchpad and incubated by Binance labs before launching on BNB Smart Chain.
FIAT, P2P, BNB, and BUSD
22. Binance extends ZERO fees on bank deposits for EUR and GBP until 2021/01/31. All users can deposit EUR at zero fees to their Binance account by selecting Buy Crypto > Bank Deposit > Bank Transfer (SEPA) and deposit GBP at zero fees by selecting Buy Crypto > Bank Deposit > Faster Payments.
23. Binance Extends Zero Maker Fee for ALL EUR & TRY trading pairs until 31 March 2021
24. Zero Fees on International USD Bank Transfers via SWIFT$20,000. We introduced ZERO fees on all international USD bank transfers made via SWIFT. Users can enjoy zero fees effective from now until 2021/01/29 at 23:59:59 PM (UTC).
25. Buy Bitcoin in Nigeria via Cash Transfer with Nigerian Naira (NGN). We added cash transfer as a payment option when buying crypto on the platform for all users in Nigeria. You can now buy Bitcoin or other digital currencies on Binance P2P with your NGN fiat balance easily. NGN cash transfer is instant and secure and happens within the Binance ecosystem.
Binance Ecosystem Updates
26. Binance Academy’s newest articles:
27. Binance Charity: 2020 Recap. As pioneers of blockchain-powered philanthropy, we bring transparency to charitable giving and unite people in a shared mission. We aim to develop projects rooted in our core values, of putting people first, leveraging a worldwide community to amplify our impact, and further developing our blockchain technology to ensure every step of the donation process is transparent and trackable In the midst of a tough year, we have made great strides to improve the lives of the bottom billion via blockchain technology.
Promos and Community
28. ONGOING: Explore and Share Your #Binance2020 - $20,000 in BNB To Be Won! Explore and share your Binance Year in Review on social media with the #Binance2020 hashtag. 200 winners will be randomly selected from the lucky draw to split $20,000 USD in BNB tokens. Ends on January 16, 2021.
29. New Year Giveaway: Top Prize of 2,000 BUSD. Buy Crypto or Deposit and Trade Fiat to Enter! We’re kicking off the New Year with a $20,000 giveaway in BUSD, and you’re invited to participate. We have prepared three main prizes for six lucky winners and a share of the remaining $14,500 in BUSD for everyone else who successfully participates. Everyone will be a winner!
30. COMPLETED: BRL Trading Pair Competition
31. COMPLETED: DUSK Trading Competition
32. COMPLETED: FOR Trading Competition
33. COMPLETED: GBP Holidays Trading Competition
34. COMPLETED: Coin-Margined Futures Trading Competition - $100,000 in EGLD to Be Won!
35. COMPLETED: Binance Liquid Swap Adds BTC - Join to Share 500,000 BUSD in Rewards
That’s a wrap for the past week. Follow us on Twitter, Instagram, Facebook, and YouTube, and join our official Binance Telegram group to talk more with our community.