Binance, one of the largest cryptocurrency exchanges in the world, announced the addition of new trading pairs. It also announced that several leveraged tokens have been delisted. According to the statements, with this move, the stock market plans to expand its offerings. It also aims to give users access to the best trading options available.
Binance adds new trading pairs
Binance, which is one of the largest exchanges with its trading volume, has made an announcement, as we have also reported as Kriptokoin.com. The exchange will start trading for DOGE/TUSD and WBTC/USDT pairs as of April 28, 2023 at 11:00. This will give users more flexibility in trading and allow them to take advantage of market opportunities. In addition, the USDT/ARS trading pair will also be opened on the exchange at 15:00 on the same day. The addition of these new trading pairs will allow users to trade cryptocurrencies like Dogecoin and WrappedBitcoin. The USDT/ARS pair will allow users to trade USDT against the fiat currency, the Argentine peso.
Binance also announced that it will enable Grid Trading for DOGE/TUSD and WBTC/USDT trading pairs within 48 hours of the trading start time. Grid trading is a trading move that takes advantage of market fluctuations. It is a trading strategy that involves buying and selling at predetermined intervals. Users can now start trading on Binance Spot by signing up for an account and making a deposit. The exchange offers a number of trading features, including advanced charting tools and a user-friendly interface.
There is also the news of delist
However, Binance also announced that several leveraged tokens were delisted. The TRXUP, TRXDOWN, DOTUP, DOTDOWN, LINKUP and LINKDOWN leveraged tokens are delisted at different times in May 2023. TRXUP and TRXDOWN will be delisted on May 9, and DOTUP and DOTDOWN will be delisted on May 10. LINKUP and LINKDOWN will be delisted on May 11.
Users are advised to use their leveraged tokens through the wallet function or leverage tokens page before delisting. If users continue to hold these leveraged tokens after the delisting time, Binance will convert these tokens to USDT based on their net asset value (NAV) at the time of delisting. USDT tokens will then be distributed to users’ accounts within 24 hours.
Leveraged token assets will be removed from the wallet after the distribution is complete. Binance’s decision to delist these leveraged tokens aims to reduce risk for users and ensure that the exchange only lists high-quality and reliable assets. Overall, Binance’s decision to add new trading pairs and delist certain tokens is seen as a step towards ensuring users have access to the best trading options on the market.
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