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TheCryptoBasic

12/27/2023

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Binance Unveils Plans to Launch ADA and XRP Pairs in Book-Balancing Move

Binance has announced plans to list new Cardano (ADA) and XRP spot trading pairs. According to the Binance announcement, the targeted asset pairs include ADA/USDC and XRP/USDC, setting the stage for traders...

Binance Unveils Plans to Launch ADA and XRP Pairs in Book-Balancing Move

Binance has announced plans to list new Cardano (ADA) and XRP spot trading pairs.

According to the Binance announcement, the targeted asset pairs include ADA/USDC and XRP/USDC, setting the stage for traders of both digital currencies to embrace multiple options.

The trading, as scheduled, will go live on December 28 by 08:00 UTC. As the industry’s largest crypto trading outfit, this listing move is pivotal as it might help solidify the influence of both assets in the industry.

Binance Support for ADA and XRP: Obvious Benefits

That Binance chose to list ADA and XRP is a strategic move that has many undertones. First, Cardano has not regained a clear security status from the United States Securities and Exchange Commission (SEC), which sued the exchange earlier in the year for supporting the coin and a host of others it labeled as unregistered securities.

Listing ADA/USDC is a vote of confidence for the Charles Hoskinson-founded crypto protocol. The inclusion of XRP, on the other hand, comes with no regulatory uncertainty as the cryptocurrency has earned itself the status of being the only altcoin with clear regulatory status after Judge Analisa Torres ruled back in July that XRP is not in and of itself an investment contract.

Binance Counter-Balancing its Books

Binance has been a subject of intense scrutiny from regulators around the world in recent times. The most troubling crackdown in its history came weeks ago when the exchange agreed to a $4.3 billion settlement with the United States Department of Justice (DoJ) and other regulatory agencies to end an ongoing probe into its operations.

With heightened scrutiny on the firm, it has maintained a somewhat strict policy concerning the coins it lists for trading. While it planned to list ADA and XRP pairs alongside others, it has also unveiled plans to delist some token pairs, including APE/BNB, APE/EUR, ARPA/ETH, BETA/ETH, CVX/BTC, ENS/BNB, and EOS/EUR amongst others.

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This delisting move aligns with its model of counterbalancing its books by removing non-performing pairs.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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