The integration of TradingView will give Binance users access to a wide range of tools while exposing Binance products to traditional investors.
The Binance Spot market trading platform has been integrated with TradingView, a leading charting platform that offers traders a greater insight into the markets. The news broke via a press release seen on Thursday, May 18.
Providing Greater Insight into the Market via Tools and Data
With the integration, users of Binance will have access to a wide range of tools featured on TradingView, enabling them to approach their trades with greater insight into the market and deploy a wider range of strategies in their trades. They’ll also be able to access TradingView tools via the Binance interface without a secondary log-in.
Binance had earlier integrated its derivatives offering with the charting platform, and the latest initiative is a reflection of an ongoing effort to give users of the platform more analytical trading tools, a press release from the company said.
Conferring Legitimacy on Tokens among Traditional Investors
The latest integration will give more exposure to Binance’s high liquidity products to existing TradingView users, who mostly invest in traditional financial instruments such as stocks, bonds, and commodities. The press release said that the TradingView integration will attract traditional investors who rely on technical tools provided by TradingView to access opportunities in the cryptocurrency market.
It added that the availability of advanced charting tools will further confer legitimacy on digital asset tokens as investable instruments, despite the traditional skepticism of conservative investors.
Creating Exposure to Traditional Investors
Catherine Chen, who heads Binance’s VIP and Institutional divisions, said that the availability of level 1 and level 2 market data and advanced charting in Tradingview will act as a boost that will help in driving development in the growing cryptocurrency market. She added that these tools will engender the confidence of mainstream investors in the crypto industry.
Chen said that institutional investors that have shown interest in cryptocurrency investment have made demands for these data and analytical tools and that with the integration with TradingView, this class of investors will be able to navigate the market with a higher sense of confidence and assurance.
“Users now have the convenience of a single sign-on to utilize TradingView’s interface to trade directly on Binance, the largest and most liquid digital asset exchange,” Chen said.
Binance Futures Already Supports TradingView
Binance is one of the largest cryptocurrency exchanges and has listed more than 350 tokens. There are currently 1400 pairs available for trading on its spot market listing and 260 pairs available on its futures trading platform. The exchange boasts high liquidity, depth, and low fees.
Last December, Binance announced the integration of its Binance Futures with Tradingview. It gave users of its futures platform access to technical analysis tools. The latest spot market integration is a result of the success of the futures platform integration.