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The Binance Spot Trading Platform is expanded by launching new USDC pairs on March 13
Binance has expanded its offerings for spot trading with the introduction of new exchanges based on USDC that will trade a range of tokens. They will go live on March 13 at 08:30 UTC.
The world’s most famous crypto exchange said on 12 March that it is now accepting the introduction of new spot trading pairs that include CVC/USDC, EURI/USDC, SYN/USDC, USDC/RO,, N and Velodrome/USDC. Furthermore, Binance will enable Trading Bots service for these pairs once trading commences.
In the list of pairs, RON represents the Romanian leu. It will be traded against Circle’s USDC stablecoin.
Regional Restrictions & Verification Requirements
As a result of regulatory restrictions, certain regions cannot access these trade pairs. Affected locations include Canada, Cuba, Crimea, Iran, the Netherlands, North Korea, Syria, the United States (including its territories), and non-government-controlled areas of Ukraine.
For access to these pairs, users need to be able to complete the verification process in line with Binance’s policy.
Market Reactions & Token Performance
After the announcement, several items saw immediate price increases:
- Civic (CVC) increased by more than five percent and is currently in the market at $0.095.
- Synapse (SYN) increased in 5% increments to $0.183 and broke a lengthy downward trend that witnessed an increase of 30% in the previous week and more than 50% during the previous month. Notably, even though SYN was included as a Binance Futures stock in August 2024, it has not yet received a separate spot on Binance Futures.
- Velodrome Finance (VELO) increased 2.2 percent and is trading at $0.048 following a 21.2 percentage drop over the past week. It also experienced a decline of 34% over the previous month.
- EURI witnessed a slight 0.3 percentage increase to $1.09 and is growing consistently, increasing 2.3 percent over the last week and 5.7 percentage in the previous month.
Binance Bitcoin Whale Ratio Declines
In the meantime, Crypto Quant analyst Darkfost noted the decline in Binance’s Bitcoin whale ratio. He believes that huge BTC holders are cutting down on the number of sell orders. It could be a sign that the selling pressure of Bitcoin (BTC) has slowed on Binance.
