Binance Chain or Binance DEX hype is gone! - page 3.

Lexurdania

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Quote from: CryptoTech_ on March 10, 2020, 12:30:13 AM

Traders are not familiar with DEX, we are accustomed to using CEX so if we switch to DEX we will feel a difference, therefore traders prefer to trade on CEX

Centralized exchangers are indeed more in demand by investors because the volume of transactions is greater than Decentralized Exchangers. When it was first launched, many projects used the BNB network but now it looks like new projects prefer ERC20

CryptoTech_

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Traders are not familiar with DEX, we are accustomed to using CEX so if we switch to DEX we will feel a difference, therefore traders prefer to trade on CEX

antsam

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Quote from: skeleto88 on February 29, 2020, 03:39:03 AM

I agree with that, the sole reason why they built such platform is to compete with ETHEREUM who is only behind the leading coin in the market bitcoin. And BNB fails to at lest to even the price with ethereum so I think with that being said it is a failure, there is no reason anymore to list new projects with binance dex cause it will only give all the credits in BNB not to project's coin.

Maybe they failed to realize the dream of many projects that dream of success using the Binance Platform, apparently not there are many people disappointed because expectations are too high

asriloni

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Quote from: Botnake on February 29, 2020, 06:58:09 PM

Quote from: Zemomtum on February 29, 2020, 06:51:17 PM

Most decentralized exchanges are losing the battle to the centralized ones and Binance DEx cannot be exceptional. Until we have a project that has DEX as one of its product that offers the building of smart contracts on top of its blockchain, ETH might keep on dominating the space

We are talking of DEX here and as we can see, some ETH decentralized exchanges don't have enough volume anymore.
Etherdelta is dead I guess while IDEX has a small volume now, only $400K+ per https://coinmarketcap.com/exchanges/idex/, while Binance DEX now has $600K+.

Based on the latest update on the DEX volume that already published by CMC and it looks like binance dex is in the same tier as etherdelta. As far as I know, if the volume is always decreasing a lot since it was created. People are not feeling convenience again by using the DEX. Isn't it all of the opinion regarding dex will be the future of crypto already broken?
In another thing, we have seen people being even smart these days.

Botnake

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Quote from: Zemomtum on February 29, 2020, 06:51:17 PM

Most decentralized exchanges are losing the battle to the centralized ones and Binance DEx cannot be exceptional. Until we have a project that has DEX as one of its product that offers the building of smart contracts on top of its blockchain, ETH might keep on dominating the space

We are talking of DEX here and as we can see, some ETH decentralized exchanges don't have enough volume anymore.
Etherdelta is dead I guess while IDEX has a small volume now, only $400K+ per https://coinmarketcap.com/exchanges/idex/, while Binance DEX now has $600K+.

Zemomtum

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Most decentralized exchanges are losing the battle to the centralized ones and Binance DEx cannot be exceptional. Until we have a project that has DEX as one of its product that offers the building of smart contracts on top of its blockchain, ETH might keep on dominating the space

cytpoway121

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I do not understand what you mean when you say the hype is gone because neutrally, binance chain is itself a blockchain, while binance dex, is a decentralized exchange for binance.

Tokens such as one and verasity has been listed on binance dex and done well.

It is not binance's job to hype up projects or cause any listed tokens to moon. It is up to projects to develop good products that is capable and good enough to drive a huge demand enough to cause price hike.

Nadziratel

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Binance DEX has never caught hype. It just remained a different trading platform. However, it also worked as an infrastructure for crypto assets that have the potential to be listed on Binance.
But above all, it was a matter of vision for Binance. And I think Binance continues this service well. The issue of the price of BNB is completely related to the market situation. I'm sure it will perform much better during a good bull season.

aemma

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Quote from: Tduty on January 25, 2020, 02:40:53 PM

I remember last year, everyone was so hyped about the Binance DEX! Any project goes for Binance chain got huge pumped and price to become very high! Many good projects kept migrating from Ethereum to Binance blockchain! Even people started saying that Binance chain will be bigger than the Ethereum network at the end of 2019! What happened then? Right now, there is no hype for Binance chain and many coins have shit volume in Binance DEX! Do you think any other chain can overtake the giant Ethereum Network?

Any project or platform that starts with hype, that's how it goes. I remembered vividly how many platforms were migrating from other blockchains to Binance chain, and it looked as if other blockchains aren't worth it, especially Ethereum blockchain but today the results is clear that those projects followed hype and nothing more and today the price is nothing to write home about. We all know that volume plays a good role in every project, now with these projects having low volume it means the investors or users are losing faith in the project.

brightemo

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This is not so good for DEXs in general. This tech can be really good for the whole industry

TheClownSong

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Quote from: poodle63 on February 29, 2020, 04:17:36 AM

Quote from: BubbleButtBabe on February 24, 2020, 10:04:03 PM

Quote from: tk808 on January 25, 2020, 02:46:33 PM

Binance chain and DEX are both useless failures. Both a mechanism to pump BNB and mechanisms for teams to have favor with Binance.

There was no other reason for teams to list on the DEX, other than hoping to eventually list on the main CEX. There was also additional minor promo through Binance outlets, but this is negatable altogether.

Stopped trading there when they tried to copy blocknets design. They do not list based on quality either. Although even bittrex has started to remove high quality projects and add pure pump and dump shit

Waiting for blocknet to get fully finished or komodo

Even those projects have high quality but if they are not compliant with the regulation in US and they will be removed. It's clearly stated by bittrex and that's why bittrex is a part of crypto rating council. Exchange site in crypto is always familiar with pump and dump and this can't be avoided and it will always exist forever

America applies strict regulations on cryptocurrency and I think it's natural because if crypto dominates transactions, America's interest in the dollar will be disrupted. But technological development is advancing and I don't think America will be able to stem it because potential investors will find a gap. The DEX binary may currently be fading and I think people still prefer to trade using a centralized exchanger

poodle63

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Quote from: BubbleButtBabe on February 24, 2020, 10:04:03 PM

Quote from: tk808 on January 25, 2020, 02:46:33 PM

Binance chain and DEX are both useless failures. Both a mechanism to pump BNB and mechanisms for teams to have favor with Binance.

There was no other reason for teams to list on the DEX, other than hoping to eventually list on the main CEX. There was also additional minor promo through Binance outlets, but this is negatable altogether.

Stopped trading there when they tried to copy blocknets design. They do not list based on quality either. Although even bittrex has started to remove high quality projects and add pure pump and dump shit

Waiting for blocknet to get fully finished or komodo

Even those projects have high quality but if they are not compliant with the regulation in US and they will be removed. It's clearly stated by bittrex and that's why bittrex is a part of crypto rating council. Exchange site in crypto is always familiar with pump and dump and this can't be avoided and it will always exist forever

skeleto88

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Quote from: antsam on February 29, 2020, 03:00:52 AM

Quote from: lobo13hf on February 24, 2020, 08:44:53 PM

Quote from: antsam on February 24, 2020, 08:24:02 PM

Do not know why Binance Dex is not popular anymore, how afraid people will dominate Binance with the presence of Binance Dex. It turns out it's just uporia, Etherum hasn't been defeated to this day but don't know in the future whether there will be another better platform

It caused by binance dex is too far from the expectation has already made by so many people. I will not talk about binance cex as it's the biggest exchange site with real volume. Binance was putting very strict restriction to the applicants that wanna create an asset in the binance chain. That makes so many people are not interested anymore with it. it's truly centralized platform.

If you mean that the Binance Exchange is still a dream exchange for lots of coins and tokens, the stringent conditions show how quality a project is needed. It is different from binance dex which is not very popular anymore

Quote from: ?? on ??

Regarding to expectations, binance DEX was being hype that much so expectations against realities traders and investors didn't see the progress
and with that they've didn't bring much money and chooses to continue using the CEX.
Interest is no longer there as traders chooses to follow top coins and invest with it instead of taking chances with new projects.

it may be that the expectations of many people are not as expected, binance dex does not provide benefits for them compared to binance exchange

I agree with that, the sole reason why they built such platform is to compete with ETHEREUM who is only behind the leading coin in the market bitcoin. And BNB fails to at lest to even the price with ethereum so I think with that being said it is a failure, there is no reason anymore to list new projects with binance dex cause it will only give all the credits in BNB not to project's coin.

antsam

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Quote from: lobo13hf on February 24, 2020, 08:44:53 PM

Quote from: antsam on February 24, 2020, 08:24:02 PM

Do not know why Binance Dex is not popular anymore, how afraid people will dominate Binance with the presence of Binance Dex. It turns out it's just uporia, Etherum hasn't been defeated to this day but don't know in the future whether there will be another better platform

It caused by binance dex is too far from the expectation has already made by so many people. I will not talk about binance cex as it's the biggest exchange site with real volume. Binance was putting very strict restriction to the applicants that wanna create an asset in the binance chain. That makes so many people are not interested anymore with it. it's truly centralized platform.

If you mean that the Binance Exchange is still a dream exchange for lots of coins and tokens, the stringent conditions show how quality a project is needed. It is different from binance dex which is not very popular anymore

Quote from: ?? on ??

Regarding to expectations, binance DEX was being hype that much so expectations against realities traders and investors didn't see the progress
and with that they've didn't bring much money and chooses to continue using the CEX.
Interest is no longer there as traders chooses to follow top coins and invest with it instead of taking chances with new projects.

it may be that the expectations of many people are not as expected, binance dex does not provide benefits for them compared to binance exchange

cahbagus555

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Quote from: Tduty on January 25, 2020, 02:40:53 PM

I remember last year, everyone was so hyped about the Binance DEX! Any project goes for Binance chain got huge pumped and price to become very high! Many good projects kept migrating from Ethereum to Binance blockchain! Even people started saying that Binance chain will be bigger than the Ethereum network at the end of 2019! What happened then? Right now, there is no hype for Binance chain and many coins have shit volume in Binance DEX! Do you think any other chain can overtake the giant Ethereum Network?

When it was first launched, the Binance chain attracted many new projects and migrated using it but it seems that it has begun to diminish. Binance DEX still has a small transaction volume compared to other already popular DEX and I think it takes time for Binance DEX to grow larger. If it is able to increase the volume of transactions, I think many new projects will start using the BNB network

Viscore

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Quote from: NewRanger on February 25, 2020, 06:51:37 AM

binance chain or dex will survive for long time, maybe its right there is no more hype in this project. but i am sure binance team preparing something big now. like binance exchanges that regularly have new feature, it will happen to binance chain too someday. there will alot of new projects that will use bnb chain someday.

They all have the resources to hype this project as Binance is one of the most popular exchange in crypto, and you are right, for sure they are planning something big and they just need to wait at the right timing. Binance DEX is still holding a decent trading volume, the biggest in all DEX I guess.

NewRanger

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binance chain or dex will survive for long time, maybe its right there is no more hype in this project. but i am sure binance team preparing something big now. like binance exchanges that regularly have new feature, it will happen to binance chain too someday. there will alot of new projects that will use bnb chain someday.

rdewilde

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Quote from: Tduty on January 25, 2020, 02:40:53 PM

I remember last year, everyone was so hyped about the Binance DEX! Any project goes for Binance chain got huge pumped and price to become very high! Many good projects kept migrating from Ethereum to Binance blockchain! Even people started saying that Binance chain will be bigger than the Ethereum network at the end of 2019! What happened then? Right now, there is no hype for Binance chain and many coins have shit volume in Binance DEX! Do you think any other chain can overtake the giant Ethereum Network?

That's what happens when hype leads the way instead of features and functions which will show how strong and reliable a platform or blockchain is. They all said many things about Ethereum blockchain and how it wasn't there best interest then the reason to move to Binance chain which of course, causes the price of those migrating projects to surge but after listing and till now, where is the hype? What positive impact have those projects experienced now? Am not against any project moving to their desired blockchain but let it be for a good reason not just for hype, because hype don't last.

trauchot

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Well, I don’t know, bnb is very high in the cryptocurrency rating and a lot of big nvestors are constantly investing in bnb, as well as binance dex is constantly evolving, so maybe in the future bnb and binance dex will be very popular and will be in demand.

Winscosinally

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Binance Hype ain't dying anytime soon because it's a top exchange and many investors are aware of how good and profitable exchange tokens can be, Binance team are capable and they will always keep the hype alive

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