The leading cryptocurrency exchange Binance once again sparked market optimism by announcing enhanced services for several tokens on Monday.
In an official announcement on November 25, 2024, Binance revealed the addition of cross-margin and isolated-margin trading pairs pegged to USDC for six tokens: Catizen (CATI), Hedera (HBAR), MANTRA (OM), First Digital USD (FDUSD), Raydium (RAY), and Bittensor (TAO).
This expansion aims to improve the trading experience by providing more stable options and lower risks for margin traders, which is likely to attract more traders and investors to these assets.
Despite the positive news, the performance of the listed tokens remains mixed, reflecting the volatility of the cryptocurrency market as a whole. Catizen (CATI) has increased by 1.24% in the past 24 hours but has decreased by 6.4% over the past week, reaching $0.5231.
During this period, the daily low was $0.5029, while the high reached $0.5947. This indicates that the token has experienced significant volatility, with investors tracking future price fluctuations.
Hedera (HBAR) also experienced a similar pattern, decreasing by 3.16% in the past 24 hours but witnessing a significant increase of 12% for the week, bringing the price to $0.1357. The daily low and high for this coin are $0.1365 and $0.1502, respectively.
MANTRA (OM) faced the most difficulties among the listed tokens, with a sharp decline of 18% for the week, causing the price to drop to $3.56. The lowest in 24 hours for this token was $3.53, while the highest reached $3.71. MANTRA's futures open interest also decreased by 7% to $192.19 million, indicating a lack of confidence among traders.
On the other hand, Raydium (RAY) performed well, increasing by 1% in the past 24 hours and 1.30% for the week, reaching $5.86. Its daily low and high are $5.77 and $6.46, respectively. However, despite the positive price fluctuations, Raydium's futures open interest has slightly decreased by 0.05% to $16.16 million, indicating that market participants remain cautious.
Bittensor (TAO) shows mixed performance, decreasing by 0.70% in the past day but increasing by 1.44% for the week to trade at $502. The 24-hour low and high for the token are $490 and $540, respectively. Its futures open interest has also slightly decreased by 2%, reaching $212.13 million.
Binance's expanded trading services have sparked optimism for these tokens, but market volatility makes investors cautious. Many are closely monitoring price fluctuations and Binance's announcements for further developments.