Binance
Binance to Drop USDC Trading Pairs, Plans to Auto-Convert Specific Stablecoin Balances to BUSD
Published
2 years agoon
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adminThe world’s largest cryptocurrency commerce platform by trade volume, Binance, issued a notice explaining that the exchange is going to be removing the stablecoin USDC from the platform’s spot commerce pairs list. Binance more details that users holding 3 varieties of stablecoins can see their balances auto-converted into BUSD if the user doesn’t take away the precise crypto plus from the exchange.
Binance to Delist Specific Stablecoin Trading Pairs by the End of September
- It looks Binance are going to be removing the world’s second-largest stablecoin usd coin (USDC), a U.S. dollar-pegged token issued by the Centre association. Throughout the announcement made on Monday , Binance explained that it plans to auto-convert bound stablecoin balances if the funds don’t seem to be removed by September 29, 2022.
- “Fellow Binancians, so as to reinforce liquidity and capital-efficiency for users, Binance is introducing BUSD Auto-Conversion for users’ existing balances and new deposits of USDC, USDP and TUSD stablecoins at a 1:1 magnitude relation,” the exchange same on September 5. Then the announcement notes that Binance is sunsetting a couple of specific spot commerce pairs.
- The pairs are going to be removed before the auto-conversion September 29 point and that they can stop commerce 3 days before the cut-off. “Binance can take away and stop commerce on the subsequent spot commerce pairs at 2022-09-26 03:00 (UTC): USDC/BUSD, USDC/USDT, USDP/BUSD, USDP/USDT, TUSD/BUSD, TUSD/USDT,” Binance details.
- Three days once those pairs ar removed, Binance also will discontinue ADA/USDC, ATOM/USDC, AUD/USDC, BCH/USDC, BNB/USDC, BTC/USDC, BTTC/USDC, EOS/USDC, ETH/USDC, LINK/USDC, LTC/USDC, SOL/USDC, TRX/USDC, WIN/USDC, XRP/USDC, ZEC/USDC, BNB/USDP, BTC/USDP, ETH/USDP, ADA/TUSD, BNB/TUSD, BTC/TUSD, ETH/TUSD, TRX/TUSD, and XRP/TUSD commerce pairs on September 29.
- Some people on social media criticized the move whereas others applauded the choice. a good range of alternative people questioned why Binance created the choice. “Uhm… why is Binance de-platforming USDC?” one person asked on weekday. “Why wouldn’t the biggest crypto exchange do this?” another individual asked.
- In addition to being the biggest crypto exchange by trade volume, Binance is that the establishment of the third largest stablecoin BUSD. The dollar-pegged crypto plus encompasses a market valuation of around $19.44 billion. USDC’s market cap is $51.89 billion nowadays, slightly below tether’s (USDT) market cap of around $67.59 billion.
- At the time of writing on September 5, 2022, at 4:15 p.m. (ET), the stablecoin BUSD has recorded $6,667,316,743 in 24-hour trades, whereas USDC has written $5,789,291,326 in 24-hour trades. USDT’s trade volume towers over each BUSD and USDC combined with $31.16 billion in swaps nowadays. If USDC now not remains on the biggest crypto commerce platform by world trade volume, the crypto asset’s daily volume might see some changes.
The post Binance to Drop USDC Trading Pairs, Plans to Auto-Convert Specific Stablecoin Balances to BUSD first appeared on BTC Wires.
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Altcoins
Binance Launchpool Rolls Out Staking and Trading Support for New Layer-1 Blockchain Project
Published
4 weeks agoon
April 14, 2024By
adminTop global crypto exchange Binance is planning on launching trading support for another new layer-1 altcoin project via its Launchpool platform.
Binance Launchpool, which lets users stake coins to farm new assets, says its 52nd project will be Omni Network (OMNI), a network that aims to integrate Ethereum’s (ETH) rollup ecosystem into a single, unified network.
Explains the project,
“Omni is an Ethereum-native interoperability protocol that establishes low-latency communications between all Ethereum rollups. Omni offers a secure, performant, and globally compatible architecture that presents Ethereum as a single, unified operating system to both users and developers.”
Between April 13th and 17th, Binance users can stake BNB, the crypto exchange platform’s native asset, as well as the stablecoin First Digital USD (FDUSD) into separate pools to farm OMNI tokens.
The exchange then plans to list the asset on April 17th. Binance will attach a seed tag to OMNI, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens.
Binance requires users who own assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.
Last week, Binance Launchpool kicked off support for Saga (SAGA), a layer-1 project that aims to enable developers to launch interoperable, application-specific chains called “Chainlets.”
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Altcoins
Kraken Crypto Exchange Plans To Delist Monero in Two European Countries in Two Months
Published
4 weeks agoon
April 11, 2024By
adminOne of the biggest centralized crypto exchange platforms in the world is planning on delisting a popular privacy-focused altcoin in two European nations in the coming months.
In a new article, crypto exchange Kraken says it’s going to be delisting Monero (XMR), a blockchain focused on anonymity that launched in 2014, from Ireland and Belgium starting in June.
According to Kraken, after June 10th, all remaining XMR on the crypto exchange will be automatically converted into Bitcoin (BTC), the top crypto asset by market cap.
“We will be delisting Monero (XMR) from the Kraken platform, for clients in Ireland and Belgium, on June 10, 2024. As of May 10, 2024 trading and deposits will be halted for XMR.
All margin positions will need to be closed by May 10, 2024 or these positions will be auto-closed. We will halt withdrawals of XMR on Kraken on June 10, 2024. At this time, any remaining XMR balances will be auto-converted into BTC.”
In February, XMR itself was delisted from Binance, the world’s largest crypto exchange platform by volume, and subsequently crashed 32%.
At the time, Binance went on a delisting spree, expelling digital assets such as decentralized governance network Aragon (ANT), artificial intelligence-focused blockchain Vaiot (VAI) and enterprise blockchain platform Multichain (MULTI), as well as XMR.
Being delisted earlier this year caused XMR to plunge to $108.80. However, the 57th-ranked digital asset has since recovered and is now trading for $134 at time of writing, a 1.3% gain during the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Altcoins
Binance Launchpool Rolls Out Support for New Layer-1 Crypto Project Focused on Developers
Published
1 month agoon
April 6, 2024By
adminTop global crypto exchange Binance is rolling out support for a new layer-1 crypto project via its Launchpool platform.
Binance Launchpool, which lets users stake coins to farm new assets, says its 51st project will be Saga (SAGA), a web3 platform designed for developers.
Saga aims to enable developers to launch interoperable, application-specific chains called “Chainlets.”
Explains the project’s website,
“We are building this by rearchitecting developer and end-user interactions with blockchains. Using shared security, innovations in validator orchestration, and an automated deployment pipeline, Saga makes launching a dedicated blockchain, or Chainlet, as easy as deploying a smart contract.”
Between April 5th and April 9th, Binance users can stake BNB as well as the stablecoin First Digital USD (FDUSD) into separate pools to farm SAGA tokens. The exchange then plans to list the asset on April 9th.
Launchpool will offer 45,000,000 SAGA as token rewards, 4.5% of the asset’s max supply.
Binance will attach a seed tag to SAGA, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens. Binance requires users who own assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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