Binance Labs, the investment arm of Binance, the world’s leading cryptocurrency exchange, announced today that it has taken an important step. The move focuses on promising altcoin projects. Moreover, these altcoin projects are already being revealed. Also, the names are explained. Let’s take a look at the details together.
Binance took an important step
Binance announced its roster of 12 cryptocurrency projects selected for the sixth season of its incubation program. In an official announcement on its website, the exchange expressed its commitment to nurturing and supporting innovative founders in the early stages of web3 projects. Accordingly, the sixth season starts on September 25.
The upcoming sixth season of Binance’s incubation program will begin on September 25. These selected projects represent various categories such as infrastructure, decentralized finance (DeFi), artificial intelligence-powered decentralized applications (dApp), GameFi and SocialFi. Binance Labs carefully reviewed numerous applications to identify these high-potential teams.
Selected altcoin projects
Binance chose altcoin projects Vistara and UXUY in the infrastructure category. On the other hand, there are also altcoin projects within the DeFi sector. These include BBOX, Derivio, Ethene and Shogun. The projects to be followed by Binance are not limited to these. In the world of AI-powered dApps, MyShell, NFPromt and QnA3 will receive support.
On the other hand, Cellula, Crypto Cafe and MetaCene are also included in the GameFi and SocialFi areas. Yi He, Co-Founder of Binance and President of Binance Labs, also explains his views on this development. Yi He points out that as Binance Labs, their mission is to identify and support early-stage founders who have proven their potential to create innovative solutions. Additionally, their mission is to positively impact the web3 ecosystem. Yi He states that they provide mentoring through the Incubation program. He also emphasizes that they contribute to the growth of early stage projects.
A new leverage trade while support continues
Binance Labs fosters innovation in the cryptocurrency and blockchain space. It also remains at the forefront of nurturing promising projects. As we begin this 6th season of their incubation program, the crypto community remains relevant. Accordingly, we look forward to the contributions and innovations that will come from these carefully selected teams.
On the other hand, leading cryptocurrency exchange Binance made another important statement today. Announced that it will launch Tether (USDT) margin futures trading for the altcoin Frontier (FRONT) with up to a maximum leverage of 10x. When we look at Kriptokoin.com, there was a movement in the altcoin price after the announcement. The price increased by 35% to $0.36.
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