Binance stopped trading Bitcoin common shares on its market. The Bitcoin NFT sector was not affected and continued to grow.

The price of Bitcoin has slightly increased after a sharp drop in the past few days. However, the optimistic sentiment surrounding BTC may soon be affected. According to recent data, Binance will stop supporting the trading and deposit of Bitcoin NFTs.

Binance download registration address: https://www.binance.com/zh-CN/join?ref=565010509

Binance makes changes

Binance clarified that the decision is part of its "ongoing efforts to streamline product offerings" on its NFT marketplace. From April 18, users will no longer be able to trade Bitcoin regular coins on the Binance NFT marketplace.

In addition, the exchange advises users to complete the withdrawal of Bitcoin common shares from the market before May 18.

In addition, the exchange stipulated that starting April 10, it will stop supporting any airdrops, benefits, or utilities related to Bitcoin Common.

Binance further emphasized that Runestones holders should withdraw their NFTs before this date to ensure that they can still take advantage of any associated tokens, utilities, or benefits associated with their common shares.

Additionally, Binance clarified that trading of Runestone NFTs will no longer be facilitated on its NFT platform.

The NFT marketplace, which launched amid the 2021 cryptocurrency boom, initially saw success thanks to its partnerships with Binance and soccer icon Cristiano Ronaldo.

However, the platform has struggled to gain significant adoption compared to competitors like Blur. In addition, Binance is currently grappling with regulatory challenges in multiple jurisdictions, especially in the United States, where the company agreed to pay a record fine of more than $4 billion and cease operations within the United States.

These regulatory challenges prompted a reassessment of the exchange’s operational strategy and the establishment of a seven-member board of directors.

What about Bitcoin?

Despite Binance’s actions, the entire NFT ecosystem on the Bitcoin network remains unaffected. AMBCrypto’s analysis of Crypto Slam data shows that Bitcoin remains the second most popular network for NFTs.

Read Bitcoin's [BTC] Price Prediction 2024-25

BTC NFT sales have increased by 7.45% in the past 24 hours.

At press time, BTC is trading at $66,858.29, with its price up 1.89% over the past 24 hours. Its trading volume has also increased by 17.76%.