Binance Introduces New Trading Pairs
The world’s largest cryptocurrency exchange, Binance, has announced the launch of new trading pairs for popular cryptocurrencies. The exchange is focusing on TerraClassicUSD (USTC), which has seen a 200% surge in price following the recent introduction of the USD-M USTC perpetual contract by Binance Futures.
Binance’s Focus on TerraClassicUSD (USTC)
Binance’s official announcement states that it will open trading for TerraClassicUSD (USTC), Blur, dYdX, and SuperVerse with FDUSD pairs. These cryptocurrencies have experienced significant demand recently, prompting Binance to introduce new trading pairs.
Specifically, Binance will list BLUR/FDUSD, DYDX/TRY, SUPER/FDUSD, USTC/FDUSD, and USTC/TRY spot trading pairs. Trading will begin at 08:00 UTC on November 30.
Notably, users can enjoy zero maker fees for FDUSD pairs on Binance.
The listing of USTC in the Turkish lira (TRY) pair is expected to bring more trading volume to the Terra Classic stablecoin due to increased cryptocurrency trading activity in Turkey.
LUNC and USTC Price Movement
Terra Classic ecosystem tokens, such as USTC and LUNC, have experienced a recovery after a previous dip caused by Terraform Labs’ denial of involvement in Mint Cash. The overall market recovery has contributed to the upward movement of prices for these tokens.
In the past 24 hours, LUNC’s price has jumped by 25%, bringing its monthly rally to 85%. The lowest and highest prices in the past 24 hours were $0.0000921 and $0.0001243, respectively. However, trading volume has decreased by 40% during this period, indicating a decline in trader interest.
USTC is currently trading at $0.045, with a 10% increase in the past 24 hours. The 24-hour low and high for USTC are $0.0365 and $0.0457, respectively.
Hot Take: Binance Expands Trading Options
Binance’s introduction of new trading pairs for popular cryptocurrencies reflects its commitment to meeting the demands of crypto traders. The focus on TerraClassicUSD (USTC) and the inclusion of FDUSD pairs offer users more opportunities to engage in trading activities.
Additionally, the listing of USTC in the Turkish lira (TRY) pair opens up new possibilities for traders in Turkey, who are actively participating in cryptocurrency trading due to hyperinflation concerns.
With the recovery of Terra ecosystem tokens and the overall market growth, it will be interesting to see how these new trading pairs perform and whether they attract significant trading volume.
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