Binance has announced support for the upcoming Dash network upgrade and hard fork, which will occur on January 7, 2025, at block height 2,201,472. The major upgrade is another big step in the evolution of the Dash blockchain, improving performance and making its infrastructure more resilient.
For a seamless network upgrade, the crypto platform will temporarily suspend deposits and withdrawals of DASH tokens starting from 19:00 (UTC+8) on the mentioned date. Therefore, users must complete all transactions ahead of time to avoid inconvenience.
Of course, this temporary suspension will not affect trading in DASH tokens. After the upgrade and the network has resumed functionality, the exchange will promptly reinstate deposits and withdrawals.
Binance Record in Supporting Upgrades
Users must closely follow official announcements from Binance and the Dash development team for any updates or additional information regarding the upgrade. Thus, they can fully enjoy the benefits of the upgraded network.
Binance is committed to providing a seamless user experience by providing the necessary support for network upgrades. The exchange is known for supporting such transitions with minimal disruption for its users; for instance, during the BCH hard fork in November 2020 and Ethereum’s Shanghai upgrade in April 2023, the popular crypto exchange completed all technical processes without affecting trading activities.
Binance Gets Major Cryptocurrency License
Binance has received its 21st regulatory approval from Banco Central do Brasil, the Central Bank of Brazil. Hence, Binance becomes one of Brazil’s first exchanges to receive the first-ever broker-dealer license.
The license will now enable Binance to acquire the São Paulo-based investment platform Sim; Paul, a licensed broker-dealer allowed to distribute securities and issue electronic money. This strategic acquisition positions Binance to expand its offerings further and cater to a broader audience in Brazil, the largest economy in Latin America.
This license also proves Binance’s commitment to following regulatory requirements, which are integral to its global operations. With the latest approval, the major markets of Argentina, Kazakhstan, India, and Indonesia have become some of the top markets where Binance has succeeded in securing a regulatory license, proving its commitment to comply with regulations in any region.
Impact on the Brazilian Crypto Space
Brazil’s proactive stance regarding cryptocurrency regulation has facilitated a favorable atmosphere for industry expansion. Guilherme Nazar, the head of Binance in Latin America, noted that the Brazilian administration has embraced a cooperative methodology by encouraging contributions from industry participants and the general public concerning suggested regulations.
This initiative formulates thorough guidelines that promote innovation while simultaneously safeguarding consumer interests. Binance’s license approval will further boost cryptocurrency adoption in Brazil.
The country’s registered cryptocurrency transaction volume was over $90.3 billion in 2024. Brazil also set a global standard by approving a spot Solana exchange-traded fund (ETF) in August 2024, which shows its progressive attitude toward digital assets.
Upon the license announcement, the crypto firm reported a 24-hour trading volume of over $18.2 billion, about threefold compared to its closest rival, Bybit. Such an outstanding feat shows how dominant Binance is within the global cryptocurrency exchange landscape.
OKX Integrates AI in Perpetual Futures Trading
As Binance continues to move forward with regulatory approvals and improve its business operations, other major industry players are also making notable strides in their business. OKX, one of the leading cryptocurrency exchanges, has introduced perpetual futures trading of two AI-related tokens: Alchemist AI, or ALCH, and AIXBT.
This move shows the growing convergence between Artificial Intelligence and Blockchain technology. Perpetual futures trading of AIXBT/USDT started at 7:00 UTC, and ALCH/USDT at 7:15 UTC on January 3, 2025.
Moreover, trading for both tokens is possible with leverage options ranging from 0.01x to 50x. On-chain data shows that ALCH rallied by 117% last week and 222% last month, showcasing increasing investor interest.
Similarly, AIXBT also saw a 54.8% increase in the last seven days and a 90% rise over the past month.
