Binance.US, the US arm of cryptocurrency exchange Binance, is introducing a new procedure to provide traders with advance notice when considering adding support for a new token. This move aims to enhance transparency in the listing process. The first token being evaluated under this new process is SUI, the native token of the Sui Network, a layer-1 blockchain platform. Sui Network, which went live in May, is a competitor to Aptos and utilizes the Move coding language. It operates on a delegated proof-of-stake consensus mechanism and aims to offer low latency and high throughput. Mysten Labs, the developers behind Sui Network, raised $300 million last year. Binance.US states that support for SUI is currently under review and the token may soon be listed on its platform. SUI is currently ranked 95th by market capitalization and is trading at $0.415. Binance’s global exchange already supports SUI on its Launchpool platform, and Coinbase listed the token in May under its “Experimental Label.”

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	1
People	None
Companies	Coinbase, Binance.US, Sui Network, Move, Meta, Aptos, Mysten Labs
Currencies	Sui
Securities	None