This Week in Web3: Binance Delists Pairs, OKX Futures Launch, and Bitcoin Staking Innovations

Binance Delists Trading Pairs for Quality Maintenance

Binance has announced plans this week to delist three trading pairs, namely DCR/BTC, PEPE/TUSD, and ZEN/ETH, to uphold the quality and integrity of its trading ecosystem. Effective December 13, the decision followed a routine assessment of market performance, emphasizing factors like liquidity and trading volume. Users have been advised to adjust or terminate their Spot Trading Bots before the service discontinuation to prevent any potential losses.

Despite the removal of these pairs, Binance assured that the tokens themselves remain on the platform, and users can trade them through other available pairs. This decision aligns with the exchange's compliance standards and recent spot trading pair delistings on December 10, driven by concerns regarding project development, network stability, and regulatory compliance.

OKX Introduces USDT-Margined Futures for VIRTUAL and SUNDOG Tokens

OKX has announced the launch of USDT-margined perpetual futures for Virtual Protocol's token ($VIRTUAL) and the meme coin SUNDOG, to commence trading on December 11 with VIRTUAL/USDT as the initial option. These contracts offer leverage options ranging from 0.01x to a maximum of 50x, featuring funding fees of +1.50% and -1.50% recalculated every four hours with no interest charges. The funding fee cap of 0.03% is aimed at stabilizing early trading and resuming standard rates thereafter.

VIRTUAL has showed impressive market momentum, with a 4% surge within 24 hours after the announcement to $1.68, and a remarkable 100% increase in value over the last two weeks. Boasting a market capitalization surpassing $1.6 billion, VIRTUAL's consistent growth emphasizes its popularity and trading volume, indicating a promising path for the token.

Babylon Labs and SatLayer Collaborate for Enhanced Bitcoin Staking

In a strategic partnership to expand Bitcoin staking, Babylon Labs and SatLayer have partnered to boost liquidity, security, and capital efficiency for Bitcoin holders across diverse blockchain applications. SatLayer's integration as the primary restaking platform for the Babylon protocol will introduce smart contracts on Babylon Chain, facilitating programmable BTC slashing.

This initiative signifies a pivotal advancement in expanding Bitcoin's utility within DeFi, with over $2 billion in Bitcoin set to fortify proof-of-stake blockchains and applications. The collaboration seeks to unlock liquidity through projects like Lombard, Solv, and Bedrock, amplifying security and liquidity for associated ecosystems and infrastructures.

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Spotlight on interesting projects

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