Binance.US Adds Support for Proof-of-Stake Protocol Cryptocurrency QTUM
Binance cryptocurrency exchange’s U.S.-focused arm – Binance.US – on November 14, 2019, announced that it had added trading support for Qtum (QTUM) digital token.
Binance.US Adds QTUM as 25th Cryptocurrency
Open-source distributed ledger technology (DLT) platform QTUM is the latest cryptocurrency to be added to the Binance.US trading platform. In an official blog post, Binance.US announced that from November 14, 2019, 9:00 PM EST, trading for QTUM/USD and QTUM/USDT trading pairs will commence on the exchange.
Traders interested in trading the Proof-of-Stake (PoS) protocol altcoin can start depositing their QTUM holdings on the exchange, the exchange added.
Following the news of its listing, the price of QTUM is up by close to 5.5 percent – trading at $2.32 at press time. The digital currency is ranked 34th on the CoinMarketCap crypto table with a market cap of more than $223 million.
This announcement by Binance.US comes only a week after it introduced support for Singapore-based supply chain-focused blockchain project VeChain (VET).
At present, Binance.US allows users to buy, sell, and trade a wide array of cryptocurrencies including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Link (LINK), Binance Coin (BNB), Dogecoin (DOGE), NEO, and Ripple’s XRP, among others.
With the addition of QTUM, the total number of supported cryptocurrencies at Binance.US sits at 25.
QTUM is one of the more active blockchain projects in the rapidly changing cryptocurrency industry which makes the Binance.US listing not that much of an unpredictable development.
According to CoinMarketCap:
“Qtum (QTUM) is a Proof-of-Stake (PoS) smart contract blockchain platform and value transfer protocol. In PoS, node operators are rewarded for validating transactions. Qtum is built on Bitcoin’s UTXO transaction model, with the added functionality of smart contract execution.”
Earlier this year in May, BTCManager reported how Qtum had announced its integration with Google’s Cloud Platform to enable the project’s developers to develop enterprise-grade decentralized applications (dApps) and smart contracts on the tech titan’s cloud platform.
While the vast majority of the blockchain projects limit their use-cases to the fields of traditional finance and trading, Qtum hasn’t shied away from leveraging the emerging technology in unconventional fields, including cinema.