NewsletterBinance Adds Conflux, Stacks, TerraClassicUSD Amid Rising Hype
The world’s largest crypto exchange Binance on Thursday announced it has added Conflux, Stacks, and TerraClassicUSD trading pairs amid rising demand for these cryptocurrencies.
According to a announcement on March 9, Binance will open trading for new pairs of Conflux (CFX), Stacks (STX), and TerraClassicUSD (USTC). The trading pairs are CFX/TRY, KEY/USDT, STX/TRY, and USTC/USDT. The trading for these pairs will open at 8:00 AM UTC on March 10. TRY is Turkish lira and doesn’t represent any digital assets.
Binance Adding Conflux, Stacks, TerraClassicUSD Trading Pairs
Conflux witnessed increased trading amid massive demand for China-linked blockchains and tokens. The Conflux is the only regulatory-compliant blockchain in China and leverages the Tree-Graph consensus mechanism for increased throughput and scalability.
CFX token price rallied over 700% in the last few weeks, hitting a high of $0.3595. The CFX price is currently trading at $0.19, down 7% in the last 24 hours.
Stacks also gained popularity amid the Ordinals NFTs hype that can be stored on the Bitcoin blockchain. Stacks blockchain enables DeFi, NFTs, and other decentralized apps built on Bitcoin.
STX stolen price also rallied massively in the last few weeks amid the hype, which helped crypto mining firms make some gains. STX price is currently trading at $0.6229, down 4% in the past 24 hours.
Interestingly, Binance adding USTC/USDT trading pairs has grabbed the attention of the Terra Luna Classic community. Binance CEO CZ earlier remarked that USTC had a better approach but the plan was executed poorly. The comment came after the U.S. regulators stopped Paxos-issued Binance USD (BUSD) minting.
TerraClassicUSD has jumped over 6% in the last 24 hours, with the price currently trading at $0.02429. The 24-hour low and high are $0.02212 and $0.02479, respectively. The trading volume has also jumped by 180% in the last 24 hours.
The community aims to revive the USTC algorithmic stablecoin peg to the USD and passed a proposal in February to boost the process.
Also Read: Vitalik Buterin Warns Investors Of These Crypto Projects
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