Binance adds Bitcoin NFTs to marketplace. Binance, the cryptocurrency exchange that was recently sued by the United States Securities and Exchange Commission (SEC) for alleged violations of the country’s securities laws, has now declared its endorsement of Bitcoin non-fungible tokens (NFTs).
Binance adds Bitcoin NFTs to its marketplace one day after SEC lawsuit
Following the recent lawsuit by the United States Securities and Exchange Commission (SEC) against Binance for alleged violations of securities laws, the cryptocurrency exchange has now announced its backing for Bitcoin non-fungible tokens (NFTs).
The supported Bitcoin NFTs include Bitcoin Bandits, Bitcoin Frogs, Bitcoin Fizzas, Bitcoin Punks, Bitcoin Wizards, Block Legends, BTC DeGods, BTC Machine, and others.
NFTs on the Bitcoin blockchain have gained significant attention in the crypto market recently. Ordinals, a method of creating on-chain artwork linked to the smallest unit of Bitcoin, known as satoshis, have contributed to a surge in Bitcoin mining revenue, reaching its highest level in over two years.
Ordinals have gained popularity in recent weeks, with over 1 million inscriptions recorded on the Bitcoin blockchain. These inscriptions serve as the basis for creating NFTs and various tokens, with a majority falling under the category of memecoins.
Binance’s NFT marketplace will join Magic Eden in supporting Bitcoin NFTs, making it one of the largest platforms for trading such assets. Additionally, the marketplace supports the trading of NFTs on BNB Chain, Ethereum, and Polygon.
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