Binance Pool’s recent announcement of a zero-fee mining service for Nervos Network (CKB) has reverberated through the cryptocurrency community, igniting a notable surge in open interest. This strategic move by one of the leading cryptocurrency exchanges aims to stimulate user engagement in CKB mining while bolstering the network’s resilience and reach.

Binance Pool Launches Zero-Fee Mining for CKB

Binance Pool, the mining arm of Binance, has officially unveiled a zero-fee mining service tailored specifically for Nervos Network (CKB), effective from April 18 to May 18, 2024. This announcement marks a significant milestone for the Nervos ecosystem, providing miners with a compelling incentive to participate in CKB mining activities.

To get started with CKB mining on Binance Pool, users are required to complete identity verification (KYC) procedures and follow the comprehensive CKB Mining Tutorial provided by the platform. This ensures compliance with regulatory requirements and facilitates a seamless onboarding process for miners of all experience levels.

During the Promotion Period, all participants in the CKB mining pool will enjoy zero pool fees, significantly enhancing the profitability of their mining endeavors. This initiative reflects Binance’s commitment to fostering the growth and decentralization of emerging blockchain networks like Nervos Network.

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Impact on Open Interest and Market Performance

The introduction of zero-fee mining for Nervos Network (CKB) on Binance Pool has had a tangible impact on the open interest (OI) of the CKB token. Following the announcement, the OI surged by a remarkable 5%, reaching a total of $32.1 million. This surge reflects the heightened interest and engagement among investors and miners alike.

In terms of market performance, the price of Nervos Network (CKB) has exhibited resilience and upward momentum. At the time of writing, CKB is trading at $0.01869, with a 24-hour trading volume of $74,180,096.25. Over the past 7 days, CKB has experienced a 3.17% price increase, with a notable 12.5% surge over the past 30 days.

The market capitalization of Nervos Network currently stands at $816,964,287, underlining the growing interest and investment in the project following the introduction of zero-fee mining on Binance Pool. This surge in market activity bodes well for the long-term prospects of Nervos Network.

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The post Nervous Network (CKB) OI Rises 5% As Binance Unveils Zero-Fee Mining appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am