Coinspeaker
Binance Adds TON, DOGS, and ALGO Trading Pairs
Renowned crypto exchange Binance has announced the inclusion of cross and margin USDC pairs for eleven new cryptocurrencies on its platform. These cryptocurrencies include Algorand (ALGO), Toncoin (TON), DOGS, Jupiter (JUP), Arkham (ARKM), Blur (BLUR), Aptos (APT), SuperRare (RARE), Ontology (ONT), Tensor (TNSR), and Renzo (REZ).
Binance Expanding Ecosystem Tokens
With this integration, Binance aims to expand the list of trading choices offered on the platform. This will enhance the user trading experience while allowing for greater portfolio diversification and flexibility with trading strategies. The listing will also benefit these assets as it helps increase their market presence and support from traders and investors.
According to the official announcement from Binance Margin, the new cross and isolated margin products will specifically include pairs tied to Circle’s USDC stablecoin. These include TON/USDC, ALGO/USDC, APT/USDC, DOGS/USDC, ARKM/USDC, BLUR/USDC, JUP/USDC, ONT/USDC, RARE/USDC, REZ/USDC, and TNSR/USDC.
Notably, Binance periodically adds new tokens to its platform to improve users’ trading experiences. This usually positively impacts the price of the listed cryptocurrencies. This is so because the trading platform commands a large userbase, all of whom may now gain exposure to the listed coins.
For instance, the price of Tranchess (CHESS) quickly soared to about 41% shortly following its futures listing on Binance recently. Irrespective of the ecosystem these tokens represent, affiliation with Binance is a notable boost overall.
In a similar move, DOGS, a new TON-based meme coin, skyrocketed following its listing on the exchange. These past experiences have fueled optimism among investors that the latest cross and isolated-margin products could follow the same path. Meanwhile, Binance’s support for DOGS airdrops distribution sets it apart as a leader in encouraging new entrants into the market.
Notably, the recent listing announcement comes only a day after Binance hinted at a new partnership with Solana (SOL). An X post from Binance, which read “BNSOL”, ignited speculations about the Solana partnership.
For now, few details have been released. However, the market is watching to see the exchange’s next move in this regard.
Mixed Reactions from Investors
While some of the newly listed trading pairs are currently seeing an uptrend, the majority have been trading in the red, coinciding with broader market volatility. This suggests a mixed sentiment from investors regarding the listings.
At press time, DOGS is experiencing a 9.13% decline in the past day, setting its price at $0.001296. The trading volume decreased by 43% within the same period to $670 million, indicating reduced investor interest.
The price of TON has also decreased by 2.47% to $5.43 in the past 24 hours. Additionally, the price of ARKM slipped 5.6% to trade at $1.07 today, while the price of BLUR fell by 3.7% to $0.1617.
On the contrary, APT increased 4% to $6.97 within 24 hours. Following this uptrend is ALGO, which surged by 0.7% to $0.129.
