Binance, the world’s largest crypto exchange by trade volume, has released an important announcement regarding 11 tokens listed on its platform. The exchange giant informed its users that it has launched new trading pairs for these tokens to expand its offering to its users. These tokens include Algorand (ALGO), Aptos (APT), Arkham (ARKM), Blur (BLUR), DOGS, Jupiter (JUP), Ontology (ONT), Renzo (REZ), SuperRare (RARE), Tensor (TNSR), and Toncoin (TON).
Market participants have reacted positively to the update in anticipation of a possible price rally as such announcements from top exchanges sometimes impact the price trajectory of affected assets. Let us see the details below.
Binance Extends Support to 11 Tokens
In an official release published on its website on August 30, Binance stated that it is expanding its cross and isolated margin trading pairs for TON, DOGS, and other aforementioned cryptocurrencies. The top cryptocurrency exchange made this move to improve trading options available to its users on the platform to cater to a diverse preference.
The new cross and isolated margin trading pairs are ALGO/USDC, APT/USDC, ARKM/USDC, BLUR/USDC, DOGS/USDC, JUP/USDC, ONT/USDC, RARE/USDC, REZ/USDC, TNSR/USDC, and TON/USDC. With these additions, the exchange “continually reviews and expands the list of trading choices offered on the platform to enhance user trading experience.”
As previously mentioned, Binance’s crypto listings typically appear to have a beneficial impact on a digital asset’s price. For reference, Tranchess (CHESS)’s price skyrocketed by approximately 41% after futures were listed on the platform. Furthermore, VIDT DAO’s price surged following its debut on the CEX. These previous records have spurred investor interest in the aforementioned tokens, as additional cross and isolated margin pairs begin today.
It’s important to keep in mind, though, that the listed coins also experience a lot of volatility at the time of writing, mostly due to larger market movements. Notably, there was a lot of volatility in the cryptocurrency market lately before the release of the U.S. PCE data, a major macro event.
The extent to which the new Binance support will affect the above-mentioned tokens is still yet to be seen. Investors and traders are keenly watching the price movements, observing any key changes that might help inform their trading decisions.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.