Binance is enhancing its spot trading offerings by introducing new USDC-based trading pairs for a variety of tokens, set to launch on March 13.
On March 12, the prominent crypto exchange shared its plans to support several new trading pairs, including CVC/USDC (USDC), EURI/USDC, SYN (SYN)/USDC, USDC/RON, and VELODROME/USDC. Trading will commence on March 13 at 08:00 UTC.
Among these tokens, RON represents the Romanian leu fiat currency, which can now be traded alongside Circle’s USDC.
Additionally, the trading platform will enable Trading Bots services for these new pairs once trading begins. However, users in certain regions may face restrictions that could limit access to the spot trading pairs.
Individuals based in Canada, Cuba, Crimea, Iran, the Netherlands, North Korea, Syria, the United States and its territories, as well as non-government-controlled areas of Ukraine, will not be able to utilize the newly introduced spot trading pairs. All users will also need to complete account verification to access the new offerings.
Following the announcement, many of the listed tokens saw price increases. CVC rose over 5% after the news was released, and Civic’s native token is currently valued at $0.095.
Meanwhile, Synapse’s token saw a gain of over 5%, reaching $0.183. The Binance announcement helped it reverse a downward trend, as the token had fallen nearly 30% over the past week and more than 50% over the past month.
SYN was initially included on Binance Futures in August 2024 but has not yet had a stand-alone token listing on the main exchange.
Moreover, the token for Velodrome Finance appreciated by 2.2% following the announcement, with VELO rising by 1% to $0.048 in the last 24 hours. Like SYN, VELO broke its downward trajectory, having decreased by 21.2% over the previous week and over 34% in the last month.
Finally, EURI experienced a minor increase of 0.3%, positioning it at $1.09 during the latest trading session. The Eurite token has seen slight gains recently, with a 2.3% rise over the past week and a 5.7% increase in the past month.
Earlier today, a CryptoQuant analyst indicated that the Bitcoin (BTC) whale ratio on Binance has been declining, suggesting that selling pressure from large holders appears to be diminishing, as they reduce their sell orders.
Disclosure: This article does not constitute investment advice. The information and materials presented on this page are for educational purposes only.