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Binance has been adding new trading pairs and services to expand user choice while still placing restrictions on residents of certain countries. The latest announcement did not result in a significant increase in the prices of the cryptocurrencies involved as the overall market remains in the red.
More trading options for targeted users
The world's largest cryptocurrency exchange continues to expand the list of trading options on its platform to improve user experience and keep up with ongoing market trends. DOGS/BRL, DOGS/USDC, RARE/BRL and RARE/USDC are expected to be added to Binance Spot later today (August 28).
Additionally, the company allows trading bot services for the following pairs: DOGS/BRL, DOGS/USDC, BONK/TRY, PEPE/TRY, 1000SATS/TRY, ETH/EUR, SOL/EUR, USDC/USDT, RARE/BRL, RARE/USDC.
Binance assured that users will continue to enjoy discounted fees on all recently added and existing USDC spot and margin trading pairs “until further notice.”
However, the upcoming option will not be available to customers residing in various countries, including the United States, Canada, Cuba, Iran, the Netherlands, North Korea, Syria and non-government-controlled areas of Ukraine.
“Please note that the list of restricted countries set out below is subject to change from time to time due to mandatory changes in applicable laws and regulations or other changes related to trading eligibility for these new trading pairs. Users will need to complete account verification in order to participate in trading on these new trading pairs,” the exchange explained.
Binance and Memecoins
The exchange has accepted a number of meme coins over the past few years, and its actions (especially in the case of official listings) often lead to significant rallies for the associated assets.
This is because Binance’s support generally improves liquidity, increases visibility, strengthens credibility and is likely to further stimulate investor interest.
For example, Bonk Inu (BONK) hit an all-time high in December last year after the company launched spot trading pairs BONK/USDT, BONK/FDUSD, and BONK/TRY.
However, Binance's latest announcement was not all that favorable for the coins involved. DOGS has seen some gains over the past 24 hours, while PEPE and BONK are still trending downwards. The price declines of these coins coincide with a general decline in the cryptocurrency market.
As reported by CryptoPotato, Bitcoin (BTC) fell to as low as $58,000 and Ethereum (ETH) dropped below $2,500. The drop adversely affected around 90,000 over-leveraged traders, causing the liquidation of over $320 million.
The meme coin sector has also been underperforming, with many coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) trending downwards.
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