In response to customer demand, Binance launched trading support for the community-led Steem hard fork Hive

By Selena On Apr 27, 2020

Binance announced on Monday that it would be listing the scalability token HIVE on its platform. In an official post, it stated that deposits and withdrawals of the token would begin at 4:00 am (UTC) on April 29, 2020.

#Binance Will List @hiveblocks $HIVE https://t.co/YGD3stV5wN pic.twitter.com/WFTu9KqXq6

— Binance (@binance) April 27, 2020

In order to cope with customer needs, Binance offers trading support for the community-led Steem (STEEM) hard fork Hive (HIVE) on April 27. HIVE can currently be traded with Bitcoin, USDT, and Binance Coin (BNB), however, withdrawals and deposits will not go live until April 29.

While Huobi recently introduced support for HIVE to skyrocket token price by over 600% in three days, Binance’s announcement seems to have led to a pullback in prices – with HIVE dropping 20% from $ 0.95 to $ 0.75 over the past 11 hours.

Binance lists HIVE after voting controversy

HIVE will be listed and made available for trading on April 27, and will initially be paired against BNB, BTC, and USDT. The listing fee of HIVE is kept at 0 BNB. HIVE is one of the most highly anticipated tokens by the Binance community and users, which is why the addition was expected.

Binance CEO, Changpeng Zhao tweeted:

You asked for it, we listen. Go $HIVE! https://t.co/LpPViRP8bY

— CZ Binance ??? (@cz_binance) April 27, 2020

The announcement came a month after Binance and Huobi raised customer funds to support Tron founder and new Steemit Inc owner Justin Sun tried to take over the Steem network – ousting Steem’s block validators in favor of Sun.

However, Binance stated that they were misled by Justin Sun as to the nature of what they were voting on, and quickly withdrew their votes. CZ claims that he is aware of an upcoming upgrade he has supported.

Misleading comments re us collaborating w/ exchanges on a hostile takeover is false. Our intention was never to take over the network & all parties’ votes will be withdrawn. We wanted to protect the sanctity of private property & the interests of all from malicious hackers.

— Justin Sun (@justinsuntron) March 3, 2020

In later statements, CZ admonished Sun, said:

“Justin didn’t talk to me about it actually. My internal team said it was a necessary network upgrade, so I said go ahead. There are network upgrades all the time, and we are always supportive. I told him already directly, explain what you are trying to do to the community, and get support first, then do it. Transparency works.”

Even during the times of the Coronavirus pandemic, Binance has managed to keep development at a steady pace and has made a number of interesting moves to expand the options on the Platform, as well as focused on user engagement. The crypto conglomerate has had exciting announcements to make during the last few weeks, like the launch of the Binance Labs prodigy social payments app Bundle for Africa, or exploring the crypto future in India by listing WazirX token.

HIVE is the native token of Hive Network, a decentralized open-source blockchain for Web 3.0 that focuses on scalability and speed.

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