In an important update, Binance, the top cryptocurrency exchange in the world, has announced new trading pairs for buying and selling cryptocurrencies. This plan to grow is because of how people feel about cryptocurrency and the platform wants to give users more choices.
Binance is offering new trading pairs and waiving fees.
Binance said they will use popular cryptocurrencies like Chainlink, Near Protocol, and Algorand, along with the FDUSD stablecoin. The exchange made the deal even better for its users by saying they won’t have to pay any fees when trading FDUSD pairs for a while. This could make it a better choice for traders.
On October 26, 2023, at 08:00 (UTC), Binance will start trading for some pairs. These are ALGO/FDUSD, DOT/FDUSD, FTM/FDUSD, LINK/FDUSD, and NEAR/FDUSD. Also, we will start trading the currency pair STRAX/TRY, using the Turkish lira. This shows that Binance is trying to give investors more choices by adding the FDUSD stablecoin and the Turkish lira for trading. This could give investors more chances to make money.
Binance is going to add new trading pairs and offer a new service called Trading Bots to make it easier for users to trade those pairs. For people who trade using Spot grid and Spot DCA, they can choose from BTC/USDC, ETH/USDC, and FLOKI/USDT pairs. People who want to use rebalancing bots can find pairs like FLOKI/USDT, NTRN/USDT, and PEPE/USDT to use.
Help for exchanging merit circle tokens and changing the name.
Binance is showing that it wants to keep up with the needs of its users by supporting the Merit Circle token. The exchange said it supports the token swap and rebranding of Merit Circle tokens after MIP-28 and MIP-23 tokens were approved. On October 26, 2023, the Merit Circle token will be combined with BEAMX in a big change. This project, led by the DAO, aims to align the current activities and practices within the Merit Circle Ecosystem.
The people who use cryptocurrency, especially those involved in the Merit Circle Ecosystem, have reacted well to this news. They see it as a good match for the ecosystem’s activities.
Market changes: Other places copy each other
The cryptocurrency market is not only active on Binance. OKX, a big player in the cryptocurrency exchange world, got attention for its recent choices about trading different cryptocurrencies together.
OKX has decided to remove some trading pairs to keep its trading environment fair. These pairs will be removed from the list on October 27, 2023, at 08:00 (Coordinated Universal Time): XRP-OKB, FODL-USDT, CHE-USDT, INT-BTC, INT-USDT, PNK-USDT, and MXT-USDT. According to OKX, they are removing these pairs because they don’t meet the requirements to be listed on the exchange. To make things go smoothly, OKX has told its users to cancel any orders before the delisting date.
The adding and removing of cryptocurrencies on big exchanges show that the crypto world is going through a period of adjustment. Due to increasing rules and unpredictable trading levels, these changes are seen as important changes to keep the cryptocurrency market strong and stable for a long time.
Summary
While the cryptocurrency world is facing challenges from rules and market changes, top exchanges like Binance and OKX are taking action. By adding more options, fitting in with what the community wants, and making sure the trading places are strong, these exchanges want to make sure that the future of cryptocurrency is strong.
Warning: This is not advice for trading.