Saga

THORChain

Elon Musk

Binance, a leading cryptocurrency exchange, has once again sparked investor interest with its latest announcement. The platform revealed plans to introduce new trading pairs and trading bot services, sparking speculations over its potential impact on the crypto prices. 
In other words, several crypto market enthusiasts expect Binance’s move could offer a glimmer of hope, especially amid the ongoing market uncertainties. 
<h2 id="binance-unveils-new-trading-pairs-and-services">Binance Unveils New Trading Pairs and Services</h2> 
The leading <a href="https://coingape.com/glossary/Crypto-exchange-2/" target="_blank" rel="noopener">crypto exchange</a>, Binance has announced new trading pairs and Trading Bots services to enhance trading options for its users. According to its announcement, the spot trading will open for ATOM/USDC, CFX/USDC, POLYX/TRY, RNDR/USDC, RUNE/USDC, and SAGA/USDC starting April 17. 
In addition, the <a href="https://www.binance.com/en/support/announcement/notice-on-new-trading-pairs-trading-bots-services-on-binance-spot-2024-04-17-dd0fd6ed7c7947aea3b4d67dd3801a90" target="_blank" rel="noopener">Trading Bots services</a> will be enabled for specific pairs, which include SAGA/USDT and TNSR/USDT. However, it’s worth noting that the eligibility for trading these pairs depends on the user’s country or region of residence. 
Meanwhile, Binance emphasizes that the list of restricted countries may change due to legal or regulatory reasons. In addition, <a href="https://coingape.com/blog/binance-exchange-review/" target="_blank" rel="noopener">Binance</a> reassures users that the list of trading pairs may be updated periodically to adapt to changing legal or regulatory conditions. 
Notably, the Saga cryptocurrency has garnered significant attention recently, especially after being listed as the 51st project on <a href="https://coingape.com/binance-unveils-51st-launchpool-project-saga-saga/" target="_blank" rel="noopener">Binance Launchpool</a>. This move indicates growing interest in Saga among investors, potentially bolstering its market performance amid the broader market dip. 
Also Read: <a href="https://coingape.com/ripple-vs-sec-lawsuit-settlement-debates-xrp-price-fall-concerns/" target="_blank" rel="noopener">Ripple Vs SEC Lawsuit- Settlement Debates &amp; XRP Price Fall Concerns</a> 
<h2 id="potential-impact-on-prices">Potential Impact On Prices</h2> 
Binance’s announcement comes at a crucial time for the crypto market, which is currently experiencing a downturn fueled by <a href="https://coingape.com/glossary/fud/" target="_blank" rel="noopener">fear, uncertainty, and doubt (FUD)</a> sentiments, particularly ahead of the Bitcoin Halving event. However, historical trends suggest that major exchange announcements often stimulate positive price movements in the cryptocurrency space. 
Considering that, several analysts are optimistic about the potential price movements of the cryptos following the latest announcement from the major crypto exchange. In other words, with Binance extending support to new cryptocurrencies and introducing trading services, analysts anticipate a potential price rebound for the mentioned cryptos. 
Meanwhile, Binance’s initiative to expand its offerings reflects a commitment to catering to the evolving needs of <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a> traders. As the market awaits the impact of these developments, investors are hopeful that Binance’s support for new cryptos and trading services could inject fresh momentum into the market, paving the way for potential price surges and renewed optimism among crypto enthusiasts. 
<figure id="attachment_191771" aria-describedby="caption-attachment-191771" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-191771" src="https://coingape.com/wp-content/uploads/2024/04/ATOM-Price-Chart-16-04-24.png" alt="ATOM Price Chart" width="753" height="517" srcset="https://coingape.com/wp-content/uploads/2024/04/ATOM-Price-Chart-16-04-24.png 1000w, https://coingape.com/wp-content/uploads/2024/04/ATOM-Price-Chart-16-04-24-300x206.png 300w, https://coingape.com/wp-content/uploads/2024/04/ATOM-Price-Chart-16-04-24-768x528.png 768w, https://coingape.com/wp-content/uploads/2024/04/ATOM-Price-Chart-16-04-24-150x103.png 150w" sizes="(max-width: 753px) 100vw, 753px">
 <figcaption id="caption-attachment-191771" class="wp-caption-text">
 ATOM Price Chart
 </figcaption>
</figure> 
However, despite the positive announcement, <a href="https://coingape.com/price/cosmos/" target="_blank" rel="noopener">Cosmos (ATOM) price</a> fell 5.3% to $8.17, while the <a href="https://coingape.com/price/thorchain/" target="_blank" rel="noopener">THORChain (RUNE) price</a> slumped 7.41% to $5.20. Simultaneously, the <a href="https://coingape.com/education/what-is-saga-protocol-how-does-it-work/" target="_blank" rel="noopener">SAGA</a> price also dropped 3.55% to $4.17 over the last 24 hours. 
<figure id="attachment_191772" aria-describedby="caption-attachment-191772" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-191772" src="https://coingape.com/wp-content/uploads/2024/04/RUNE-Price-Chart-16-04-24.png" alt="RUNE Price Chart" width="753" height="533" srcset="https://coingape.com/wp-content/uploads/2024/04/RUNE-Price-Chart-16-04-24.png 976w, https://coingape.com/wp-content/uploads/2024/04/RUNE-Price-Chart-16-04-24-300x212.png 300w, https://coingape.com/wp-content/uploads/2024/04/RUNE-Price-Chart-16-04-24-768x544.png 768w, https://coingape.com/wp-content/uploads/2024/04/RUNE-Price-Chart-16-04-24-150x106.png 150w" sizes="(max-width: 753px) 100vw, 753px">
 <figcaption id="caption-attachment-191772" class="wp-caption-text">
 RUNE Price Chart
 </figcaption>
</figure> 
Also Read: <a href="https://coingape.com/ripple-cto-slams-elon-musk-for-plans-of-imposing-charges-on-new-x-users/" target="_blank" rel="noopener">Ripple CTO Slams Elon Musk For Plans Of Imposing Charges On New X Users</a> 
The post <a href="https://coingape.com/binance-extends-support-these-crypto-potential-price-impact/">Binance Extends Support For These Cryptos, Potential Price Impact?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Binance Extends Support For These Cryptos, Potential Price Impact?

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