Binance.US, the US arm of Binance, one of the world's largest cryptocurrency exchanges, made an important announcement that closely concerns investors. The exchange announced that it will remove one of the altcoins, Cudos (CUDOS), from the platform. In addition, Binance opened the door to new projects and offered the opportunity to invest in high-potential assets such as EigenLayer (EIGEN). These two developments created remarkable echoes in the cryptocurrency market.
Binance.US delists Cudos
Binance.US has officially announced that it has removed Cudos from its platform. The company stated that this decision was made due to the fact that it does not support Artificial Superintelligence (ASI) conversion. Cudos (CUDOS) trading has been terminated as of September 26, 2024. In addition, users' deposit transactions will be closed at 05:00 on September 29, 2024, Turkey time (TSI). However, Binance.US has announced that CUDOS withdrawal transactions will continue until further notice, giving investors flexibility. Users will be able to convert their CUDOS assets to USDT until 18:00 on September 29, 2024. This offers investors the opportunity to evaluate their assets on other exchanges. It is noteworthy that there has been no significant decrease in the price of CUDOS during this period.
There was no significant change in the price of CUDOS when the delist news broke, and it continued to trade at $0.00118 at the time of writing. Interestingly, Binance’s global version announced that CUDOS would support ASI conversion. This suggests that there may be strategic differences between Binance.US and Binance global.
EigenLayer Opportunities
Binance continues to offer investors opportunities to invest in different projects. In this context, EigenLayer (EIGEN) has been listed on the Binance Earn platform. EIGEN will be available to investors in various services of Binance such as “Buy Crypto”, Binance Convert, Margin and Auto-Invest. EIGEN will be included in the flexible products category on Binance Simple Earn and will be available to investors on October 1, 2024. Starting on October 2, 2024, users will be able to purchase EIGEN through the Binance Auto-Invest platform. This creates a significant earning opportunity for investors. Users will be able to purchase EIGEN with popular payment methods such as VISA, MasterCard, Google Pay and Apple Pay.
EIGEN will also be available on the Binance Convert service, allowing users to trade BTC, USDT, and other popular tokens. On the Binance Margin platform, EIGEN will be offered as a borrowable asset and will be available for trading on EIGEN/USDT and EIGEN/FDUSD trading pairs. These services will be active on October 1, 2024 at 07:00 and will offer margin investors a wide range of trading options. There are also opportunities for EIGEN on the Binance Futures platform; EIGEN Perpetual Contract (USDⓈ-M) will be available for trading on October 1, 2024 at 06:00, offering investors the opportunity to trade with up to 75x leverage. This stands out as an attractive option for investors looking for high-earning potential.
Regulations and New Tokens
Binance continues to make important adjustments to improve the trading experience in the cryptocurrency market and increase market liquidity. In this context, it was announced that the price tick of SOL USDⓈ-M and COIN-M Futures contracts will be changed on October 14, 2024. With this change, the price ticks in SOLUSDT and SOLUSDC trading pairs will increase from 0.001 to 0.01. This adjustment will also cover API users and current price tick information will be available via the API.
In addition, Binance added Toncoin (TON), Notcoin (NOT), and Dogs (DOGS) tokens to the Binance Dual Investment platform to provide additional earnings to its investors. These new tokens allow investors to earn extra income by buying at low prices and selling at high prices. Different target prices will be offered for TON, NOT, and DOGS, and returns will be transferred to investors' accounts every Friday at 08:00 (UTC). Thanks to these tokens, investors will have the opportunity to reach annual returns of 15% and above.
