Binance, the world’s largest cryptocurrency exchange in terms of daily trading volume, made new announcements for various altcoins today. Here are the details…
Binance lists five new cryptocurrency pairs
According to the official website of the exchange, new trading pairs are being added for Gas (GAS), Golem (GLM), Prom (PROM), QuackChain (QKC) and UniLend Finance (UFT). The mentioned parities are expected to be listed on March 17, 2023, at 11 CEST. The new additions of the exchange are as follows:
- GAS/USDT
- GLM/USDT
- PROM/USDT
- QKC/USDT
- UFT/USDT
After Binance’s announcement, Gas experienced an increase of close to 5 percent. On the other hand, Prom recorded a sharp rise of 35 percent. UFT, on the other hand, experienced an increase of 4.41 percent. On the other hand, there was no major change in QKC and GLM prices. In fact, both are down 1 percent as of writing.
Adding new pairs to margin trades
On the other hand, the exchange has re-added USDC as a loanable asset to its cross and isolated margin areas. As we reported on cryptokoin.com, USDC, a stablecoin, lost its 1 dollar stable in the past few days, causing many exchanges to stop USDC pairs. Since then, USDC has been re-pegged to $1 and platforms are restarting USDC trading. Binance’s announcement goes in parallel with this development. The exchange announced that it has added the following pairs:
- New cross-margin pairs: BTC/USDC, ETH/USDC, USDC/USDT
- New isolated margin pairs: BTC/USDC, ETH/USDC, USDC/USDT
TUSD and USDP will be supported by multi-asset mode
In addition, Binance Futures announced that it will support TUSD and USDP as margin assets in multi-asset mode. These coins will update the transfer limits for ADA, DOT and SOL in multi-asset mode to zero, effective from March 20, 2023, 11:00 CEST. Maximum transfer limits for TUSD and USDP margin assets depend on users’ VIP levels. In automatic exchange transactions, the cut-off rates for TUSD and USDP were determined as 1%.
In addition, the exchange pointed out that the margin balances of TUSD and USDP are calculated in real time according to the price indices of TUSD and USDP. Existing ADA, DOT and SOL assets in multi-entity mode will not be affected by this. Users will be able to continue to use these existing assets as margin when trading USDS-M futures in multi-asset mode.
Binance launches GMX and GNS locked products
Binance Simple Earn launches GMX and GNS into the locked products category. To start earning rewards, users will be able to complete their GMX and GNS locked product subscriptions as of today, 15:00 CET. You can find the rate of return and limits in the table below:
Stacks (STX) hard fork and update supported
Finally, the exchange announced that it will support the Stacks (STX) network update and hard fork. The Stacks (STX) network upgrade and hard fork will occur at Bitcoin block height 781,551, that is approximately March 20, 2023. Starting at Bitcoin block height 781,545, STX deposits and withdrawals will be suspended. STX trading will not be affected during the network upgrade and hard fork, according to the exchange. In addition, Binance will fulfill all relevant technical requirements for all users holding STX in their account.
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