Top crypto trading platform Binance has revealed its plans to list tokens like CVC and VELO, a major vote of confidence that may trigger a price rally.
Binance, a leading global cryptocurrency exchange, has announced plans to list five new spot listings. The update has attracted the crypto industry’s attention, as the exchange says it will still open trading for the new trading pairs beginning Thursday, March 13.
New Binance Listings and Market Impact
Notably, the trading pairs include CVC/USDC, EURI/USDC, SYN/USDC, USDC/RON, and VELODROME/USDC. According to the update, Binance will kick-start trading bot services for all aforementioned pairs on the same date and time.
Meanwhile, users have been assured they would enjoy ‘Spot Algo Orders’ services on the listed pairs.
As per Binance, the decision to include an additional listing is to expand the list of choices users in the space have to pick. The listing might have been to meet users’ demand on the exchange. It could also help consolidate Binance’s status as a leading exchange in the industry.
This development has sparked interest among market participants and users in general. They anticipate that it could lead to a spike in trading volumes of these assets as more investors become attracted to these offerings.
Some market watchers believe that the attention sparked by this development could trigger increased price action. Their optimism is bold, particularly considering the ongoing market downturn in the broader crypto space.
Can Binance’s Listings Defy Bearish Market Trends?
Despite this notable development, the five new listings will not be available to users in some regions of the globe. These include users in Cuba, Canada, and the Netherlands. Others are the Crimea Region, Iran, Syria, the United States of America and its territories, and any non-government-controlled areas of Ukraine.
Binance has continued to gauge the market regarding its listed trading pairs. In October last year, Binance delisted four trading pairs: ACE/FDUSD, FIL/BNB, OP/BNB, and TRB/FDUSD.
It cited poor liquidity and low trading volumes as key reasons for delisting the four and terminating Spot Trading Bots services.
Furthermore, regarding one of the listed pairs, RON/USDC, Binance clarified that it is a fiat currency and maintained that RON does not represent any digital currency in the crypto space.
While experts are keen to see how the listings would impact Binance’s outlook, concerns about the bearish financial market linger. Fears of a possible U.S. recession and the blowback of the U.S. tariff and trade wars and their impact on the crypto sector continue to exert pressure on the market.
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