Important Binance Update for Peanut the Squirrel (PNUT) Traders: Details

TL;DR

Binance has added new trading pairs including PNUT/BRL and PNUT/EUR. PNUT’s price has risen 1,400% in two weeks, boosted by the company’s initial support and Elon Musk’s endorsements. Binance will also remove several trading pairs, including DAR/BTC and RARE/BRL. The move coincides with substantial drops in the prices of the affected tokens. Additional support for PNUT

The world’s largest crypto exchange added seven new pairs to Binance Spot to “enhance the user’s trading experience.” These include PNUT/BRL, PNUT/EUR, ACT/BRL, ACT/EUR, CATI/USDC, ETH/EURI and LUMIA/TRY. Users will enjoy zero maker fees for ETH/EURI “until further notice”.

In addition, Binance enabled trading bot services for ADA/USDC, DOGE/USDC, SUI/USDC and XRP/USDC in addition to the pairs mentioned above.

The firm cautioned that the new options will not be available to all customers. Residents of Canada, USA, Iran, Netherlands, Syria and other countries will be excluded.

Binance’s latest effort marks its additional support for one of the most trending meme coins of recent times: Peanut the Squirrel (PNUT). The price of the token has increased by a staggering 1,400% in a two-week span due to a combination of several factors. One of them includes Binance’s decision to list PNUT with a seed tag.

The other elements are the general meme coin frenzy and support from Elon Musk. One of the richest people on the planet mentioned PNUT (directly and indirectly) several times in X, causing the price of the asset to rise.

These pairs are no longer supported

Apart from expanding the list of options on its platform, Binance regularly removes some of the existing ones due to low liquidity or other reasons.

It will remove spot trading pairs DAR/BTC, IRIS/BTC, RARE/BRL, THETA/ETH and UTK/BTC on November 22nd and end access to margin trading pairs C98/BTC, FIS/BTC, IDEX/ BTC, MBOX/BTC, REN/BTC, TKO/BTC on November 27th.

The cessation of support of a major cryptocurrency exchange like Binance often has a negative effect on the prices of the digital assets involved. After all, the move reduces accessibility and could lead to reputational damage.

Most affected chips are in the red after the disclosure, with SuperRare (RARE) suffering the most. Its valuation has plummeted 8% daily, currently trading around $0.11.

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