As a seasoned analyst with years of experience in the crypto market, I find the recent developments at Binance both intriguing and slightly predictable. The addition of trading bot services for PEPE/FDUSD, SUI/FDUSD, and EIGEN/TRY pairs is a strategic move that underscores Binance’s confidence in these tokens, particularly Pepe, which has shown remarkable resilience since its listing on the platform last year.
TL;DR
- Binance added trading bot services for PEPE/FDUSD, SUI/FDUSD, and EIGEN/TRY pairs, with regional restrictions.
On the other hand, it removed several pairs due to potential factors like poor liquidity.
Additional Trading Choices for Users
As a researcher, I’m excited to share that this morning (October 11), the leading crypto exchange, Binance, broadened its offerings on the Spot platform by incorporating trading bot services for three distinct trading pairs: PEPE/USD, SUI/USD, and EIGEN/TRY. This expansion is set to enhance the trading experience for users on the platform.
As an analyst, I must clarify that our services may depend on the specific country or region where you reside. Unfortunately, individuals living in Canada, the United States, the Netherlands, Cuba, Syria, and the Crimea Region will not have access to these services.
As a crypto investor, I’m thrilled about the recent surge of listings, particularly for one of my favorite meme coins, Pepe (PEPE), the iconic frog-themed token. Back in May last year, Binance warmly welcomed it into their family, and ever since then, they’ve consistently stood by its side, offering ongoing support.
Previously in the year, Binance introduced PEPE as an option for loans within Binance Loan. Additionally, they included the PEPE/Euro pair among the available trading options on their spot trading platform.
The meme coin showed minimal fluctuations or instability after the latest announcement, maintaining a similar value as it was on October 10th.
Initially, I hadn’t expected PEPE‘s market cap to skyrocket, but when Binance listed it on their platform, something surprising happened. Instead of lingering around modest figures, PEPE’s market capitalization surged past the $1 billion mark. In the ensuing months, this figure continued to climb, eventually reaching its current peak of approximately $3.9 billion.
The Delisting
Unlike the newly added pairings stated previously, Binance also eliminated some existing ones for various reasons, including low liquidity and insufficient trading volume. As of October 11th, the following spot trading pairs are no longer available: APE/ETH, ATOM/BNB, BAL/BTC, and BNB/DAI.
Removing a token pair from spot trading on Binance doesn’t mean the tokens themselves are unavailable. You can still trade the base and quote assets of that pair in other available trading pairs on Binance.” The company has confirmed this.
This week, we provided crucial details to the owners of certain cryptocurrencies that were previously removed from our list, including Tornado Cash (TORN), Vai (VAI), OMG Network (OMG), Waves (WAVES), Barn Bridge (BOND), Mdex (MDX), Dock (DOCK), NEM (XEM), Polkastarter (POLS), and Pundi X PURSE (PURSE).
Users are encouraged to capture a photo of their assets and submit it before October 29. They can expect to receive the equivalent value in USDC by April 28, 2025.
The conversion will be carried out, utilizing the average token-to-USDC exchange rate during the specified timeframe from October 29, 2024, at midnight (UTC) to April 28, 2025, at 11:59 pm (UTC), which we’ll call the ‘Conversion Period.’
Keep in mind that Binance will make any necessary updates to this announcement and send an individual email to all affected users once the process of converting the mentioned tokens into USDC has been fully completed. This was made clear by the exchange.
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2024-10-11 13:37