Binance, a leading crypto exchange, has expanded its trading offerings on the spot platform. It recently three new spot trading pairs for Altlayer (ALT), Treasure (MAGIC), and Sei (SEI). These pairs feature USD Coin (USDC) and First Digital USD (FDUSD) as quote currencies and went live on February 2, 2024, at 08:00 p.m. UTC.
What Pairs Has Binance Added To Its Spot Trading Arena?
According to the latest announcement, the following pairs would be added to Binance Spot trading:
- ALT/USDC
- MAGIC/FDUSD
- SEI/USDC
Furthermore, Binance is introducing Trading Bot services for specific pairs, including Spot Grid, Spot DCA, and Rebalancing Bot services for ALT/USDT. In addition, it will enable Spot Algo Orders for the newly listed pairs of ALT/USDC, MAGIC/FDUSD, and SEI/USDC. This move aims to provide users with advanced trading tools to optimize their strategies.
As an added benefit, the CEX noted that users engaging in FDUSD trading pairs will enjoy zero maker fees until further notice. This incentivizes the adoption of the recently added MAGIC/FDUSD pair on Binance. However, though the crypto exchange has listed several new pairs, its delisting spree hasn’t come to a standstill.
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Recent Delisting Move
Binance had previously disclosed the removal of numerous spot trading pairs. This decision formed part of their routine reviews, a measure aimed at ensuring user protection and sustaining a resilient trading market. The affected spot trading pairs underwent removal from Binance spot trading on Friday, February 2, at 3 a.m. UTC. Notably, this delisting impacted prominent cryptocurrencies like Ethereum (ETH) and Binance Coin (BNB) but there’s more to it.
It’s crucial to emphasize that the pairs facing delisting featured Ethereum and BNB as quote currencies, not base currencies. The announcement detailed the removal of trading pairs like BSW/BNB, KAVA/ETH, SCRT/ETH, SNX/BNB, UFT/ETH, and WAN/ETH. The decision to delist these pairs stemmed from various factors, including subpar liquidity and trading volume.
Moreover, the exchange subsequently ceased Spot Trading Bots services for the delisted pairs, aligning with the removal schedule. Users received strong advisories from Binance, urging them to promptly update or cancel their Spot Trading Bots before the specified removal time to mitigate potential losses. This strategic decision reinforced Binance’s dedication to fostering a trading ecosystem characterized by robustness and user-centric safeguards.
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