Important notice from Binance about these trending meme coins: details

TL;DR

Binance is adding new trading pairs and services to expand user options, with some restrictions for residents of specific countries. The latest announcement has not led to substantial price increases for the cryptocurrencies involved, as the entire market remains covered in red. More trading options for eligible users

The world’s largest crypto exchange continues to expand the list of trading options on its platform to improve user experience and respond to current market trends. It will add DOGS/BRL, DOGS/USDC, RARE/BRL and RARE/USDC to Binance Spot later today (August 28).

In addition, the company will allow 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 and RARE/USDC.

Binance assured that users will enjoy discounted rates on all newly added and existing USDC margin and spot trading pairs “until further notice.”

The following options, however, will not be available to customers residing in various countries such as the US, Canada, Cuba, Iran, the Netherlands, North Korea, Syria, and any areas not controlled by the Ukrainian government.

“Please note that the list of restricted countries provided below may change from time to time, due to mandatory changes in applicable laws and regulations, or other changes relevant to the trading eligibility of these new pairs users must complete account verification to participate in trading these new trading pairs,” the exchange explained.

Binance and Meme Coins

The exchange has incorporated numerous meme coins in recent years, and their actions (especially in the case of an official listing) have often resulted in large rallies for the assets involved.

This is because Binance support generally leads to better liquidity, increased visibility and improved credibility, which could fuel additional investor interest.

Bonk Inu (BONK), for example, hit an all-time high price in December last year after the company opened the following spot trading pairs: BONK/USDT, BONK/FDUSD and BONK/TRY.

Binance’s latest announcement, however, has not been so beneficial for the coins involved. While DOGS has posted some gains in the last 24 hours, PEPE and BONK remain in red territory. Its price drop coincides with a broader drop across the cryptocurrency market.

As reported by CryptoPotato, Bitcoin (BTC) fell to $58,000, while Ethereum (ETH) fell below $2,500. The recall adversely affected nearly 90,000 overleveraged traders, resulting in over $320 million in liquidations.

The meme coin sector has also underperformed, with Dogecoin (DOGE), Shiba Inu (SHIB) and many more heading south.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!