04/09/19 06:10 UTC-4

Binance cryptocurrency exchange absorbed a competitor with a turnover of $152 million per day

ExchangesBinance absorbs JEX futures exchange
Binance absorbs JEX futures exchange

Binance cryptocurrency exchange bought out the Jex tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
platform, which specializes in trading crypto-derivatives like options and futures contracts.


Binance bought Jex crypto-exchange

Binance announced the takeover of the Jex crypto-exchange on September 2. According to Binance, JEX will retain the team and name, and will engage in "further development of the cryptocurrency derivatives market".

JEX has its own tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
. According to the deal, it will take over Binance. The crypto-exchange promises that in the long run, the JEX token "will be gradually distributed among all users through marketing activities and community activities. "After that, Binance plans to return the tokens "in various ways" and burn them.

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Editor: Alex Riabukha

See also: "$134 million turnover: Thai crypto exchange BX quits the market"

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