Leading cryptocurrency exchange Binance announced enhanced products for investors on Monday, reigniting market optimism for certain tokens. Notably, the exchange added new trading pairs for CATI, HBAR, OM, FDUSD, RAY, and TAO to its product inventory, attracting global traders and investors. Meanwhile, due to the highly volatile performance of the tokens, market observers speculate on the potential impact of the enhanced listings on future prices.
Binance expands trading services for CATI, HBAR, OM, and three other tokens
In the official Binance announcement on November 25, the cryptocurrency exchange revealed that it would add new cross and isolated margin pairs pegged to USDC for CATI, HBAR, OM, FDUSD, RAY, and TAO. According to the exchange's announcement, this move aims to enhance the trading experience for users and provide margin traders with more stable, low-risk options.
It is worth noting that the exchange added in its announcement that users should refer to the latest margin data on the platform to understand the most recent margin assets and more information regarding specific limits, collateral ratios, and interest rates. Nevertheless, the enhanced products pave the way for further interaction between traders and investors with the assets, sparking optimism about future trends. With one of the top cryptocurrency exchanges further expanding support for the aforementioned tokens, the customary market sentiment conveys optimism.
Interestingly, CoinGape Media reported that the same tokens will gain additional benefits in the future, and Binance also revealed another significant update regarding enhanced market support through new trading pairs.
How are the tokens performing?
Despite the increase in trading products, the intraday performance of the aforementioned tokens has been quite volatile, consistent with the overall market trend. The price of Catizen (CATI) has dropped by 4% in the past day, while it has risen by 15% this week, reaching $0.5599. Its intraday low and high were $0.5029 and $0.5947, respectively. Coinglass data shows that the futures open interest (OI) for the cat-themed cryptocurrency has increased by 1%, reaching $56.29 million.
Meanwhile, Hedera (HBAR) has increased by 5% in the past day and by 22% this week, closing at $0.1445. Its intraday low and high prices were $0.1365 and $0.1529, respectively. Coinglass data has raised slight concerns about the future performance of this token, as its futures OI dropped by 11% today to $139.17 million.
Additionally, the price of MANTRA (OM) has decreased by 11% in the past 24 hours and by 11% this week, to $3.68. Despite the leading cryptocurrency exchange enhancing its products, it still raised uncertainty among investors. The token's 24-hour low and high prices were $3.53 and $3.85, respectively. According to Coinglass data, MANTRA's futures OI fell by 7% to $192.19 million.
The price of RAY surged by 5% in the past day and soared by 13% this week, reaching $6.34. The token's 24-hour low and high prices were $5.70 and $6.46, respectively. However, according to Coinglass data, the futures OI for this token fell by 0.05% to $16.16 million.
Finally, the price of Bittensor (TAO) has dropped by 2% in the past day while rising by 7% this week, trading at $529. The token's 24-hour low and high prices were $487.63 and $542.81, respectively. Bittensor's futures OI fell by 2% today to $212.13 million. Overall, despite the cryptocurrency exchange enhancing trading products, market observers remain concerned about future trends in the context of recent market volatility.