Binance exchange makes a series of listing announcements today, including the introduction of new futures trading pairs. As the strongest platform in terms of volume in the cryptocurrency market, Binance supports altcoin prices through these listing updates.
Binance Listings
At 12:00 UTC today, Binance will activate the trading pairs RAYUSDT, KOMAUSDT, VIRTUALUSDT, and SPXUSDT. Traders looking to utilize 75x leverage can now take advantage of the Binance exchange.
Market Reactions
Following the surge in the cryptocurrency markets, there is an increase in volume and demand for futures trading. This scenario also brings significant liquidation amidst rising volatility. Earlier today, over $850 million in long positions were liquidated within just one hour.
With the announcement, the price of RAY increased by more than 5%, rebounding to levels prior to the drop.
Due to its lower liquidity, KOMA rose by 160%. While VIRTUAL saw an increase of over 7%, the price of BTC remains around $97,500. If tomorrow’s U.S. inflation data is positive, cryptocurrency traders may be encouraged to make more purchases ahead of the Fed meeting.
