Important Binance Announcement Concerning Numerous Altcoin Traders: Details

TL;DR

• Binance will add nine new cross margin and isolated margin trading pairs on July 24.
• It will also delist three trading pairs two days later.

The Latest Amendments

The world’s largest cryptocurrency exchange – Binance – will update its services to respond to recent market trends and enhance user experience. It will add nine cross margin and isolated margin trading pairs today (July 24). The pairs in question are 1000SATS/USDC, GALA/USDC, AR/USDC, PEOPLE/USDC, RUNE/USDC, TRB/USDC, STRK/USDC, UNI/USDC, and ZK/USDC. 

Additional support from a crypto behemoth like Binance could positively impact the involved tokens due to increased liquidity and a reputational boost. However, 1000SATS is the only cryptocurrency (from the involved ones) to chart any substantial gains today. The rest have either recorded some minor plunges or have not experienced any significant volatility. 

Besides adding new trading pairs to its platform, Binance often removes existing ones due to multiple factors, such as poor liquidity. It will terminate services with AVAX/TUSD, MATIC/TUSD, and VOXEL/BTC on July 26. 

“The delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot. Users can still trade the spot trading pair’s base and quote assets on other trading pair(s) that are available on Binance,” the company explained.

The affected cryptocurrencies are in the red today (July 24), with VOXEL suffering the worst (a 9% decrease on a daily scale). It is worth noting that a more significant price collapse can be observed in the event of total delisting of a certain digital currency from Binance. 

That exact thing happened earlier this year when the exchange halted all trading services with Monero (XMR). The valuation of the popular privacy coin crashed by double digits following the announcement.

Binance’s Previous Update

Approximately a week ago, the company introduced an interesting initiative dubbed “Battle of the meme: Doge vs Shiba Inu.” Users can join the Dogecoin team or the rival one to accumulate certain points and complete daily missions. 

“After the Activity concludes, we will calculate which team has accumulated the highest number of points on a collective basis,” the Binance team stated.

According to the terms, the first 50,000 participants from the winning side will each receive a reward of up to $50, while the first 20,000 participants from the losing team will also pocket similar sums. 

Only those who have accumulated at least 3,000 activity points will be eligible for the giveaway. The “battle” of the meme coins will run until July 29.