Binance Launches New Margin Trading Pairs for 11 Tokens

Binance, the world’s leading cryptocurrency exchange platform, announced the launch of new margin trading pairs. According to the official announcement, the exchange has expanded its offerings to include tokens such as Toncoin (TON), DOGS, Algorand (ALGO), Juipter (JUP), Arkham (ARKM), Ontology (ONT), Aptos (APT), SuperRare (RARE), Tensor (TNSR), Renzo (REZ), and Blur (BLUR). 

Notably, this move is part of Binance’s ongoing efforts to enhance user experience, thereby catering to the diverse needs of its global user base. Also, Binance’s expansion boosts market support for these tokens, as Binance listing can significantly increase their visibility and liquidity.

Binance Listing Spark Token Reactions

However, market reactions have been mixed following the announcement. At press time, many newly listed tokens traded negatively, with only a few showing positive momentum. This divergence in performance has sparked contrasting sentiments among traders, with some seeing the listings as a sign of confidence in the tokens and others cautious due to the current market volatility.

For instance, tokens like TON, ALGO, and APT have been under pressure due to broader market trends. The TON price decreased by 2.3% in the past 24 hours to $5.43, while the APT Price saw a decline of 6.42% in the past 24 hours to $6.66. ALGO price also deepened by 2.57% to $0.1273. Meanwhile, tokens like DOGS have shown resilience, trading in the green and garnering more optimistic sentiment from traders.

Binance Provides a More Reliable Trading Environment

Recall that the cryptocurrency exchange delisted ALPACA, NFP, MDX, QUICK, and XAI from its platform in June, halting trading for these pairs. According to the exchange, the decision to delist these trading pairs is part of its effort to maintain a high standard of trading quality and liquidity across its platform.

In addition to enhancing market stability, the delisting initiative is part of Binance’s broader strategy to comply with regulatory standards and improve its overall governance. Binance gave affected users sufficient time to adjust their trading strategies and withdraw assets from the impacted pairs.

Likewise, Binance has delisted Waves, OMG Network (Previously called OmiseGO), Nem, and Wrapped NXM from its platform, halting both spot and margin trading for these pairs.

Binance Celebrates 200M Users 

Interestingly, Binance announced in June that it had reached the remarkable milestone of 200 million global users. The achievement marked a significant moment in the company’s ambitious journey to onboard one billion users, roughly one in every eight people on Earth.

The exchange’s user base has seen substantial growth in a short period. In 2022, Binance had approximately 130 million users. By the end of 2023, the platform had added 40 million more users, totaling 170 million. Within the first six months of 2024, Binance has already attracted an additional 30 million users. If this trend continues, Binance is poised to reach 200 million users by 2026.

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