Binance exchange announced that it will add USDC trading pairs for a series of cryptocurrencies on Binance Spot. These cryptocurrencies include Solana (SOL), XRP, Cardano (ADA), Avalanche (AVAX), Polkadot (DOT), and Polygon (MATIC). Starting on December 28, users can start trading these new spot trading pairs.
Binance said in an official announcement that they will add ADA/USDC, ARB/USDC, AVAX/USDC, DOT/USDC, INJ/USDC, MATIC/USDC, OP/USDC, ORDI/USDC, SOL/USDC and XRP/USDC Spot trading pairs for major cryptocurrencies. These cryptocurrencies are all very active digital assets in the market.
Binance previously announced support for the USDC stablecoin issued on the Polygon blockchain network and plans to open USDC deposit and withdrawal services. However, Binance plans to stop supporting various stablecoins, including USDC, in mid-2022 in favor of its own stablecoin BUSD. However, Binance had to stop supporting BUSD due to challenges from the SEC’s regulation of BUSD.
In addition to these USDC trading pairs, Binance has also added full margin trading pairs for other altcoins, such as ADA/FDUSD, AEUR/USDT, AVAX/FDUSD, DIA/USDT, DOGE/FDUSD, IOTX/ETH, LINK/FDUSD, MATIC/FDUSD, OM/USDT and POLS/USDT, etc.
Prices of some cryptocurrencies rose following the announcement. SOL, for example, has fallen by more than 1% in the past 24 hours and is currently trading at $112.23. The price of XRP increased by nearly 1% to $0.624. Other cryptocurrencies such as ADA, AVAX, DOT, and MATIC have also seen price increases. MATIC’s price rose more than 20% to $1.07.
It should be noted that the cryptocurrency market changes drastically and prices fluctuate greatly. You should conduct adequate research and evaluation before making any investment decisions, and Binance exchange has announced the addition of a new series of USDC trading pairs for cryptocurrencies on Binance Spot. These cryptocurrencies include altcoins such as Solana (SOL), Cardano (ADA), XRP, Polygon (MATIC), and others. Users can trade these new spot pairs starting on December 28.
Binance announced a new spot trading pair for USDC in an official announcement on December 27. The exchange will list spot pairs of important cryptocurrencies such as ADA/USDC, AVAX/USDC, DOT/USDC and SOL/USDC.These cryptocurrencies currently have high trading activity in the market.
Binance has previously supported the USDC stablecoin on the Polygon network and plans to open USDC deposit and withdrawal services soon. However, the exchange plans to stop supporting stablecoins such as USDC in mid-2022 and instead use its own stablecoin BUSD for trading. However, in the face of regulatory challenges to BUSD from the U.S. Securities and Exchange Commission (SEC), Binance had to stop supporting BUSD.
In addition to the USDC trading pair, Binance has also added a number of cross-margin trading pairs for altcoins, including ADA/FDUSD, AVAX/FDUSD, MATIC/FDUSD and OM/USDT.
These new altcoin trading pairs enrich the cryptocurrency selection on the Binance exchange. The prices of these altcoins also increased after the news was announced, with the price of XRP rising by nearly 1%.
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