Two Crypto Exchanges Break Record Trade Volume And Introduces New Fee Models
Two cryptocurrencies exchanges have shot to the highest point of positioning by daily volume on Coinmarketcap today, June 26, after their presentation of a “transaction fee mining” model.
CoinBene, Singapore-based is presently positioned to begin with, with more than $2.1 billion in trading volume over a 24 hour time, with Hong Kong-based Bit-Z in second with about $1.5 billion in exchanging volume over a 24-hour term. Binance, which beforehand sat in the top spot, is positioned fourth, with around $629 million in a daily trading volume.
CoinBene presented their new transaction fee mining model on June 23, as indicated by a post from their site.
Clients will get 100 percent of their trading charges back in Coni, the platform native currency, in light of the holding volume of Coni every hour isolated by its total hourly volume at that point increased by 100 percent. CoinBene posted on Twitter that “the trading fee will 100% exchange to ETH at closing price hourly and will be returning [sic] at 15:00 next day.”
The exchange tweeted June 25 about their turn to the highest point of the CoinMarketCap rankings, writing that “the form of equivalent BZ,” the world!!!”
As indicated by Bit-Z’s site, their new transaction fee mining model implies that users are discounted for their transaction fees in “the form of equivalent BZ,” the platform’s native ERC20 token, if users have finished level three verification.
The model was presented on June 25, as indicated by Bit-Z’s Twitter post, with an utmost of 600 million BZ. Their white paper claims that the model works by decreasing the amount of BZ returned by 3 percent each 10 million BZ period.
Bit-Z tweeted on June 25 that the total turnover of the 12-hour time span after starting their new transaction model exceeded surpassed 27 billion:
