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The Binance Spot Trading Platform Is Bracing Itself For New USDC Pairs On March 13
Binance has now created new USDC-based exchanges to trade various tokens and increase spot trading options, which will go live on March 13 at 08:30 UTC.
On March 12, the world’s leading crypto exchange said it had agreed to open new spot trading pairs, including CVC/USDC, EURI/USDC, SYN/USDC, USDC/RON, and Velodrome/USDC. Also, after trading starts, Binance will offer the Trading Bots service for these pairs.
RON in the pairs represents leu in the Romanian language. The LEU will be traded against Circle’s USDC stablecoin.
Geographical Restrictions & Verification Requirements
Regulatory restrictions have impacted certain regions that cannot access these trade pairs and include, but are not limited to, Canada, Cuba, Crimea, Iran, the Netherlands, North Korea, Syria, the U.S. and U.S. territories, and Ukraine with no government control.
To access these pairs, users will need to complete the verification process according to Binance policy.
Market Reactions & Token Performance
Following the announcement, several tokens saw immediate price increases:
- Civic (CVC) increased by more than five percent, trading at $0.095 at the time of writing. Synapse (SYN) also increased in 5% increments to $0.183 and broke a long-term downward trend that had registered a 30% increase in the last week and more than 50% in the last month. While SYN has been listed as a Binance Futures stock since August 2024, it has not yet made it to a distinct listing on a Binance Futures account.
- Velodrome Finance (VELO) rose to 2.2 percent, trading at $0.048 after decreasing over the last week by 21.2 percent. It has also gone down 34% from the previous month.
- EURI registered a slight 0.3 percentage gain to $1.09, rising more steadily while recording a 2.3 percent gain over the last week and a 5.7 percent increase over the last month.
Binance Bitcoin Whale Ratio Drops
Meanwhile, Crypto Quant’s Darkfost, an analyst, noted the drop-off in Binance’s whale ratio for Bitcoin. He thinks the big BTC holders are lowering the amount of sell orders, which could be a hint that the selling pressure of Bitcoin (BTC) is coming down on Binance.
