Binance has scored another big one after the Kava asset listed on its Binance.com DeFi platform has sold out minutes after its listing.
With this move by Binance, the DeFi space might probably be heating up very soon if other digital assets exchange companies follow suit.
Kava asset is seen as the coin for the future as Forbes has previously said the token possesses much potential that might beat the growth of Bitcoin. In the past few months, investors have been pumping cash into different DeFi projects which have seen the sector gain massive waves.
According to DeFi Pulse, the present total value locked in DeFi is said to be around $7 billion.
Kava asset is seen as a token for the future
Even though the DeFi sector has witnessed major price moves, tongues have been wagging over the way the sector only cares about users of the Ethereum blockchain. With time only a factor, other assets might begin to make their debut into the DeFi sector.
Kava has been pushing for the BNB, the official coin of Binance to enter into the Decentralized Finance sector. With Kava asset partnering up with Binance, the level of success that the asset will enjoy in the coming days will be unprecedented.
Binance users can now stake with BNB directly on the Binance.com platform
Coming with the news of Kava being listed on the Binance platform, it was reported to have sold out minutes after the listing. Even though trading of the Kava asset has been ongoing, this partnership will enable both the asset and the platform elevate their status.
This will make it the first time that Binance will integrate such a project into its platform, and this move will open the digital assets up to the general public.
As a result of this partnership, the clients on Binance would be able to stake on the Kava platform directly with the use of the BNB. As it stands now, Binance users will not need to use two application to access both platforms as a result of the integration.