Binance Adds BNB/USDC, BTC/USDC & ETH/USDC Trading Pairs
Binance will start trading his BNB/USDC, BTC/USDC, and ETH/USDC trading pairs on March 6, 2023. 30 (UTC). BTC/USDC spot trading pairs are prohibited from the Bitcoin commission-free trading program.
The trading volume of the BTC/USDC spot trading pair counts towards the VIP level and all liquidity provider program volume calculations.
In the event of any discrepancies between the translated version and the original English version, the English version shall prevail.
This announcement was updated on March 12th, 2023 to add that the spot trading pair BTC/USDC will be removed from the Bitcoin commission-free trading program.
Binance reserves the right, at its sole discretion, to modify or cancel this announcement at any time and for any reason without prior notice.
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Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the addition of three new trading pairs: BNB/USDC, BTC/USDC, and ETH/USDC. The move is aimed at increasing liquidity and providing traders with more options for trading on the platform.
USDC is a stablecoin that is pegged to the US dollar and is issued by Circle, a cryptocurrency startup backed by Goldman Sachs. It is one of the most popular stablecoins and is supported by several major cryptocurrency exchanges, including Coinbase and Bitfinex.
With the addition of these new pairs, traders on Binance can now trade BNB, BTC, and ETH against USDC, allowing them to hedge against market volatility and reduce their exposure to the cryptocurrency market’s volatility.
The BNB/USDC pair will allow traders to trade Binance’s native token, BNB, against USDC. BNB is currently the 4th largest cryptocurrency by market capitalization and has seen its value rise by more than 200% in the past year.
The BTC/USDC and ETH/USDC pairs will allow traders to trade bitcoin and Ethereum against USDC, respectively. Both bitcoin and Ethereum are the two largest cryptocurrencies by market capitalization and are widely traded on most cryptocurrency exchanges.
According to Binance CEO Changpeng Zhao, the addition of these new trading pairs is part of the exchange’s ongoing efforts to provide traders with more trading options and improve liquidity on the platform.
In addition to the new trading pairs, Binance has also announced that it will be launching a new trading competition for the BNB/USDC pair, with a prize pool of $50,000 in BNB tokens. The competition will run from October 6th to October 13th and will be open to all eligible traders on the platform.
Overall, the addition of these new trading pairs is expected to bring more liquidity and trading volume to Binance, making it a more attractive destination for traders looking to trade cryptocurrencies against stablecoins.