EIGEN, PEPE, & SUI Markets To Rally on This Binance Announcement?

Binance cryptocurrency exchange has announced the introduction of trading bot services for three new trading pairs: EIGEN/TRY, PEPE/FDUSD, and SUI/FDUSD. Scheduled to commence on October 11, 2024, at 08:00 UTC, these services will offer more diverse trading options on the exchange platform. More so, including these new pairs with the bot feature will significantly boost EigenLayer, Pepe Coin, and Sui prices.

Binance Launches Trading Bots for EIGEN, PEPE, and SUI Pairs

According to a recent blog post, Binance has expanded its trading bots services to include EIGEN/TRY, PEPE/FDUSD, and SUI/FDUSD trading pairs. This move is part of the platform’s broader strategy to provide users with advanced tools that support effective trading strategies. Trading bots are automated programs that execute trades according to pre-set parameters. They have become increasingly popular among traders for their efficiency and ability to capitalize on market movements without constant manual oversight.

Furthermore, the introduction of the said services enable traders to utilize systematic trading on more forms of asset. The above inclusion will help address a new market of Binance users who seek fully automated trading systems. It also goes well with the exchange’s continuous push to make improvements to its customers’ experiences while furthering its services in a growing crypto space.

Notably, the exchange revealed that the accessibility of these new trading pairs is dependent on the geographic location. Because of these restrictions, traders from the US, Canada, and Netherlands among others, will not have access to these trades. This highlights the increasing cryptocurrency trading regulations across the globe.

Impact on EIGEN, PEPE, and SUI Prices

Upon the activation of trading bots for these pairs, volumes of EIGEN, PEPE, and SUI trades are expected to rise. Such systems can be expected to produce a higher number of trades, which is useful in enhancing improved liquidity. This liquidity is essential in narrowing the market spread and presenting asset price stability which in turn would encourage more people to use Binance platform.

Subsequently, the crypto tokens Sui, Pepe Coin, and EigenLayer exhibited market fluctuations after the announcements. Sui is currently priced at $1.84 and it has achieved a weekly increase of 7.01% with a total market capitalization of $5.08 billion. Similarly, EigenLayer at $3.75 went up about 2% in the last 24 hours, with a trading volume surge to $23.430 million.

On the other hand, Pepe Coin price stands at $0.059386, experiencing a slight daily increase of 0.46%, supported by a trading volume of $739.78 million. Despite the minimal price surge, recent Pepe Coin price predictions have hinted at a potential rally to a new all-time high this month.

In addition to the current enhancements, the crypto exchange is also expanding support for other popular tokens. Recent developments have seen a significant uptick in Chiliz (CHZ) price following Binance’s increased support. 

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

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.