The current trend in the crypto market is still bearish, with almost all digital currencies showing a downward trend. The Binance Coin however is experiencing strong growth in recent days, also due to the ongoing adoption by the partnership with Tripio.
Binance is one of the largest exchanges in the world. The exchange launched its own cryptocurrency, the Binance Coin (BNB), last year. The coin is considered not only as a digital currency on the platform itself, but a key function to take on the developing decentralized stock exchange. The current rally, however, is due to the announcement of a cooperation with Tripido.
Yesterday, Tripido officially announced the launch of a strategic partnership with Binance, which will enable more than 10 million users to book and pay for 450,000 hotels worldwide with Binance Coin. Tripido is a Blockchain-based hotel booking platform that has already integrated various cryptocurrencies on its platform.
— CZ Binance (@cz_binance) December 4, 2018
Cryptocurrency Adaptation in Real Life
The increasing prevalence of cryptocurrencies in everyday live is progressing daily. Large corporations such as Expedia, Microsoft and Steam have extensively tested the integration of cryptocurrencies as an alternative means of payment. However, some weaknesses have been identified over time that have led to a decline in use in practice.
These include high volatility, lack of liquidity and long transaction confirmation times in times of high demand. PayPal Chief Financial Officer John Rainey already stated that traders were looking for real alternatives to avoid the high fees, but the sharp price fluctuations of Bitcoin and other cryptocurrencies are dangerous :
“Due to the volatility of cryptocurrencies, traders saw crypto-bugs threatening the viability of their businesses. For example, if you’re a trader, and have a margin of 10 percent on a product you sell and accept Bitcoin, and move 15 percent the next day, you’re in deep trouble.”
Cryptocurrencies like the Binance Coin offer traders an efficient and practical alternative to traditional legacy systems. They also offer cost and speed advantages, provided the prices are stable and the blockchains are not clogged. The partnership opens the door for a large user base to Tripido’s innovative platform. Tripido received a $ 20 million round of financing from major venture capital firms such as OK Blockchain Capital, Ceyuan Ventures and GENESIS Capital in March.