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

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7 minutes ago

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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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GameFi, Metaverse Crypto Sectors Lead With 100% Sandbox (SAND) Price Rally

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1 hour ago

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November 25, 2024

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The GameFi and Metaverse sectors have taken charge of the next leg of the crypto market rally with The Sandbox (SAND) price gaining almost 100% in the last 2 days. Apart from SAND, other market players like Decentraland (MANA), Gala (GALA), and Axie Infinity (AXS) have also staged strong gains over the past week.

The Sandbox (SAND) Price Revives GameFi, Metaverse Sectors

Metaverse platform The Sandbox has registered strong network activity with its native token SAND price gaining more than 100% in the last few days. As a result, it managed to outperform other top altcoins like XRP and Cardano.

Furthermore, on-chain metrics show that the SAND price rally can continue further. As per the CryptoQuant data, the daily transaction count for SAND has surged to 11,597 reaching the highest in the last seven days.

Courtesy: CryptoQuant

The surge in SAND’s transaction count shows that investors are bullish on the asset’s recent surge thereby signaling higher demand and participation. Furthermore, there’s also a surge in the exchange withdrawal transactions that hints at a bullish momentum ahead. It shows that long-term investors are moving SAND off the exchanges hinting at increased confidence in the asset.

On the technical chart, SAND price has given a breakout from the downward-trending pattern eyeing the next target of $1.40. Thus, investors are eyeing for another 75-80% rally ahead.

MANA, GALA, and AXS Join the Party

Apart from The Sandbox (SAND) price rally, other GameFi and Metaverse tokens like Decentraland (MANA), Gala (GALA), and Axie Infinity (AXS) have also joined the party gaining 25-50% over the past week.

With more than 67% gains on the weekly chart, the MANA price is currently trading at $0.70 with its market cap crossing $1.3 billion. If the bulls manage to sustain past the $0.70 resistance, they can take MANA to $1.30 with another 100% gains in the making.

Similarly, Axie Infinity (AXS) price is up 42% on the weekly chart and currently trading at $8.13 levels. Also, the daily trading volume for AXS has shot by 28% surging past more than $1.02 billion.

Axie Infinity, developed by Vietnam-based Sky Mavis, is a blockchain-based game that uses a “play-to-earn” model, enabling players to earn cryptocurrency through gameplay. The AXS price has bounced back after a double-bottom formation. As per the technical chart, the next subsequent targets for AXS could be $28, $45, and $69.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

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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Super Pepe Coin Whale Sells 130B PEPE, Shifts Focus To EIGEN

Published

3 hours ago

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November 25, 2024

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Amid a highly turbulent crypto market witnessed as the week kicks off, a super Pepe Coin whale shifted focus to EIGEN has sparked significant market discussions. Notably, on-chain data pointed out a massive 130 billion PEPE whale selloff, with the investor simultaneously diversifying his portfolio by buying over 200K of the Ethereum-based token.

This swap of positions, amid a slumping action witnessed by the meme coin and a gaining action seen by the EigenLayer ecosystem token, set off waves of speculations over the coins’ future tendencies.

Super Pepe Coin Whale Refocuses Investments, Buys EIGEN

According to whale data by Spot On Chain as of November 25, a super whale sold 74.07 billion in Pepe Coin worth $1.53 million for 448.1 ETH as the price dropped recently. The same whale was recorded offloading 130.2 billion of the meme coin, worth $2.71 million, for 891 ETH over the past three days. Although this massive selling caused market tension, it’s noteworthy that the super whale still holds 3.241 trillion Pepe Coin, with a 12.6x profit of $68.3 million.

However, the same whale also focused on buying EIGEN, swapping 181.3 ETH for 217,348 of the Ethereum-based token over the past two days. The whale currently holds 1.608 million of the EigenLayer token, worth $4.31 million, with an 11% profit. Overall, the trade swap sparked significant optimism over the EigenLayer ecosystem’s primary token, while market watchers monitor the leading meme coin closely.

PEPE & EIGEN Prices Show Mixed Actions

While the meme coin’s price slipped, aligning with the selloff by super Pepe Coin whale, the Ethereum-based coin rose, leveraging buying pressure. PEPE price was down 2% intraday and 5% weekly, trading at $0.00002026. Its 24-hour low and high were $0.00001918 and $0.00002086, respectively.

Whereas, EIGEN price soared nearly 7% intraday and 23% weekly, reaching $3.06. The coin’s 24-hour low and high were $2.56 and $3.07, respectively. While crypto market participants remain optimistic about the Ethereum-based token in light of the massive accumulation, the remaining massive PEPE holdings add a layer of intrigue to the leading meme coin’s price action ahead.

Intriguingly, a recent Pepe coin price analysis by CoinGape Media flagged that the meme coin eyes a $0.000025 target, with significant potential upside for further momentum. This optimistic projection comes against the backdrop of bullish technical formations on the frog-themed crypto’s price chart. Market watchers continue to eye both coins for future price action shifts as the broader market continues to showcase price fluxes.

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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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