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AVAX And MATIC Under Pressure After This Key Move By Binance

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4 months ago

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AVAX and MATIC have recorded slight price pressure after crypto exchange Binance moved to delist the asset’s TUSD trading pairs. The company revealed its latest round of spot trading audits and announced the removal of three cryptos from TUSD and BTC pairs respectively. These events are known to swing the price of assets due to market volatility.

Binance Delists AVAX and MATIC’s TUSD Trading Pair 

In a July 24 announcement, the digital asset exchange disclosed updates to its spot trading pair listings. On July 26, Binance will delist the AVAX/TUSD, MATIC/TUSD, and VOXEL/BTC trading pairs. The exchange cited the need for high-quality trading markets adding that it will conduct periodic reviews and remove pairs due to liquidity and volumes.

The crypto exchanges issued instructions to users ranging from steps to be taken before the July 26 date. Users can still trade corresponding tokens on the platform as other tokens will not be affected.

“Delisting a spot trading pair will not affect users’ ability to trade its corresponding tokens on the Binance spot platform (if applicable). Users can still trade the underlying and quoted assets of the spot trading pair on other trading pairs provided by the Binance platform.”

Furthermore, Binance will take out the trading bot service on July 26 while urging users to close all trading bot services for the listed trading pairs before July 26 to avoid losses. 

Also Read: Bitwise CIO Teases More Crypto ETFs After Ethereum Success, Solana and XRP Next?

What’s Next?

Delisting of trading pairs by popular crypto exchanges often leads to price changes as investors and traders look to reposition holdings. The recent move might see price shakes in AVAX and MATIC and the crypto market trades sideways. The former is down 4.79% in the last 24 hours pushing down weekly gains to 1.5%. 

On the other hand, MATIC trades at $0.5313, a slight 0.77% increase in the past day. However, the asset plunged 4% in the last seven days. Market leaders Bitcoin (BTC) and Ethereum (ETH) also recorded slight losses in the same period. 

Also Read: Fold Inc Braces For IPO With $500 Million Valuation After SPAC Merger

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David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Futures OI Tops $2.50B As Ripple Whales Buy Over 250M Coins

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50 minutes ago

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November 25, 2024

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XRP News: Ripple whales have purchased millions of XRP in the last few weeks triggering a massive 200% rally this month. XRP price saw a 10% correction last weekend, but on-chain data revealed that whales have bought more than 250 million during the dip. Is a rally to $20 ahead as XRP futures open interest surpassed $2.50 billion?

Whales Accumulation Triggers Bullish News for XRP

Ripple whales purchased more than 250 million XRP over the weekend, according to on-chain data platform Santiment. It follows as whales moved to buy the dip after a recent selloff of XRP during the weekend.

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Popular trader Ali Martinez signaled that the Ripple whales are bullish on a further rally in XRP price. The significant transactions indicate confidence in XRP or strategic accumulation. Traders must watch for potential market moves and legal resolutions of crypto lawsuits.

Whale Alert reported multiple XRP tokens transactions, including a transaction of 149,000,000 tokens worth $227 million transferred from crypto exchange Bybit to a wallet. Also, a whale accumulated 20 million XRP from South Korean exchange Upbit.

In addition, on-chain data reported 58,333,326 XRP valued at $87 million transferred from Binance to a whale wallet.

As CoinGape reported earlier, whales are accumulating the tokens massively amid bullish sentiment. Donald Trump’s win in US presidential election and US SEC Chair Gary Gensler’s resignation have fueled sentiment for the potential end of the Ripple lawsuit.

Rally Continues As Open Interests Hit Over $2.50 Billion

Ripple’s token saw a correction over the weekend but whales buying the dip came as major news for XRP investors. The recent dip came from South Korean investors. However, analysts have given a target of $2 and a long-term price target of $20 amid various bullish news for XRP.

Total XRP futures open interests have now surpassed $2.50 billion, hitting a new high. The futures OI increased to 1.59 billion XRP worth $2.50 billion amid massive buying seen on Binance and Bybit, as per Coinglass data.

XRP price has jumped 4% in the last few hours, with the price currently trading at $1.51. The 24-hour low and high are $1.31 and $1.54, respectively. Furthermore, the trading volume has increased by 24% in the last 24 hours, indicating a rise in interest among traders.

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Varinder Singh

Varinder has over 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently leading the news team to cover latest updates and developments in the crypto industry.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Expands Offerings For CATI, HBAR, OM & These Crypto Sparking Optimism

Published

2 hours ago

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November 25, 2024

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Leading crypto exchange Binance has again sparked market optimism surrounding certain tokens, revealing enhanced offerings for investors on Monday. Notably, the exchange added new trading pairs for CATI, HBAR, OM, FDUSD, RAY, and TAO to its stockpile of offerings, magnetizing traders and investors globally. Meanwhile, with the tokens witnessing a highly turbulent movement, market watchers speculate about the potential impact of the enhanced listings on prices ahead.

Binance Expands Trade Offerings For CATI, HBAR, OM, & These 3 Tokens

In an official Binance announcement dated November 25, the crypto exchange revealed that it is adding new USDC-pegged cross and isolated margin pairs for CATI, HBAR, OM, FDUSD, RAY, and TAO. Per the exchange’s announcement, this mover is meant to enhance users’ trading experience and provide more stable and low-risk options for margin traders.

Notably, the exchange added in its announcement that users should refer to the latest margin data on the platform to stay informed of the most updated marginal assets and further information on specific limits, collateral ratios, and rates. Nevertheless, the enhanced offering paves the way for further trader and investor interaction with the asset, sparking optimism about future movements. Usual market sentiments convey optimism as one of the top crypto exchanges further expands support for the mentioned tokens.

Intriguingly, CoinGape Media reported the same tokens to be eyeing additional gains ahead as Binance also revealed another important update on them, enhancing market support with new trading pairs.

How Are The Tokens Performing?

Despite the enhanced trade offerings, the mentioned coins have witnessed a turbulent intraday movement, which is in sync with the broader market trend. Catizen (CATI) price slipped 4% over the past day, whereas it gained 15% weekly to reach $0.5599. Its intraday low and high were $0.5029 and $0.5947, respectively. Coinglass data pointed out a 1% increase in the cat-themed crypto’s futures OI to $56.29 million.

Simultaneously, Hedera (HBAR) price cracked 5% over the past day and gained 22% weekly to rest at $0.1445. Its intraday low and peak were $0.1365 and $0.1529, respectively. Coinglass data sparked slight concerns over the coin’s movements ahead as its futures OI slipped 11% to $139.17 million today.

Besides, MANTRA (OM) price tanked 11% in the past 24 hours and plunged 11% weekly to reach $3.68, raising uncertain investor sentiments despite the enhanced offerings by the leading crypto exchange. The coin’s 24-hour low and high were $3.53 and $3.85, respectively. MANTRA’s futures OI, per Coinglass data, was down 7% to $192.19 million.

RAY price soared 5% over the past day and 13% weekly to reach $6.34. The coin’s 24-hour low and high were $5.70 and $6.46, respectively. However, the token’s futures OI slipped 0.05% to $16.16 million, per Coinglass data.

Lastly, Bittensor (TAO) price tanked 2% over the past day, whereas it gained 7% weekly to trade at $529. The token’s 24-hour low and high were $487.63 and $542.81, respectively. Bittensor’s futures OI slipped 2% to $212.13 million today. Overall, despite the crypto exchange’s enhanced trade offerings, market watchers remain apprehensive over future movements amid the broader market’s recent turbulent action.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Puffer Price Skyrockets 40%, Biconomy (BICO) 20% After Major Listing

Published

3 hours ago

on

November 25, 2024

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South Korea’s second-largest crypto exchange Bithumb has launched KRW trading pairs for Biconomy and Puffer Finance. This marks a significant milestone for both projects. PUFFER price soared 40%, while BICO jumped nearly 20% following the listing.

Both tokens are available on the Ethereum network, with deposits and withdrawals now live today. This launch offers new governance and staking opportunities, further expanding Bithumb’s offerings in the growing DeFi space.

Bithumb Introduces Trading for Biconomy and Puffer Finance

Bithumb announced Biconomy and Puffer Finance listing on its platform on November 25. This launch marks a key milestone for both projects. Users now have seamless access to these tokens, offering governance, staking, and utility features.

The exchange has launched trading pairs for BICO and PUFFER in the KRW market. Both tokens will be supported on the Ethereum network, with deposits and withdrawals limited to Ethereum only. Biconomy token has a base price of 480 KRW, while Puffer Finance is listed at 422 KRW. The exchange has also outlined a five-minute restriction on buying orders after trading begins and a limitation on selling orders within a 12% price range to ensure smooth transactions.

Both tokens offer enhanced utility within their respective ecosystems. BICO supports smart account functionalities, staking, and transaction fees within Biconomy’s multi-chain relayer infrastructure. PUFFER, on the other hand, is a key component of Puffer Finance’s liquidity re-staking protocol, enabling users to easily stake ETH and earn rewards.

The launch of these tokens on Bithumb presents an excellent opportunity for investors seeking governance and staking utilities within the rapidly growing DeFi space.

Price Surges Following Exchange Listing

Listing on major cryptocurrency exchanges gives a significant boost to tokens, as seen with FLOKI’s surge after its listing on Coinbase. Similarly, the recent Bithumb listing has positively impacted PUFFER and BICO, driving up their prices and trading volumes.

Puffer price is currently trading at $0.39, with a 40% increase in the last 24 hours. Its 24-hour low and high are $0.26 and $0.422, respectively. Over the past month, PUFFER has gained 50%, and in the last week, it has risen by 36%. With a market cap of $38 million and a trading volume of $114 million, PUFFER price is seeing strong upward momentum.

BICO, the native token of Biconomy, is currently priced at $0.37, reflecting a 12% increase in the past 24 hours. Its 24-hour low and high range between $0.299 and $0.37. Over the last month it has surged by 110%, while in the past week, it has gained 27%. Biconomy market cap is at $329 million, with a 24-hour trading volume of $59 million.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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