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Highlights
- Binance announced to expand of its support for several cryptos.
- The crypto exchange adds ICP, OMNI, PEPE, and other cryptos, sparking speculation on price surges.
- PEPE Price soars following the announcement, while the OMNI price plummets.
Binance, a prominent player in the cryptocurrency exchange realm, has sparked discussions among traders yet again with its recent announcement. This time, the buzz revolves around the expansion of support for select cryptocurrencies.
Meanwhile, the move, which encompasses notable names like Internet Computer (ICP), Omni Network (OMNI), Pepe Coin (PEPE), Ontology (ONT), and Yield Guild Games (YGG), has prompted speculation among investors regarding potential price surges in the crypto market.
Binance Extends Support For ICP, OMNI, PEPE, & Others
Binance, a trailblazer in the crypto exchange domain, recently stirred the pot with its decision to broaden support for a handful of cryptocurrencies. Among the beneficiaries are Internet Computer (ICP), Omni Network (OMNI), Pepe Coin (PEPE), Ontology (ONT), and Yield Guild Games (YGG).
Notably, Binance, in its announcement, unveiled plans to introduce new trading pairs and trading bot services for these assets, igniting a wave of anticipation among investors. The move, slated to take effect on April 24, 2024, at 14:00 (UTC), has reignited discussions on the potential market repercussions.
Meanwhile, the introduction of trading pairs such as ICP/USDC, OMNI/USDC, ONT/USDC, PEPE/BRL, and YGG/TRY, coupled with the provision of Trading Bots services, underscores Binance’s commitment to expanding its offerings and enhancing user experience. In addition, the announcement, crafted to bolster the trading choices available on Binance Spot, underscores the exchange’s proactive stance amid evolving market dynamics.
By facilitating trading in these assets, Binance aims to cater to the diverse needs of its user base, while also positioning itself as a frontrunner in the competitive crypto exchange landscape.
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Speculation on Price Rally
The cryptocurrency market, known for its volatility and sensitivity to market developments, is abuzz with speculation following Binance’s latest move. Historically, announcements of this nature from major exchanges have often catalyzed price rallies in the crypto sphere.
Considering that, the market participants are eyeing the potential for an uptick in prices for the newly supported assets. Notably, this sentiment is further buoyed by Coinbase’s recent announcement of Pepe Coin’s perpetual futures listing on its platform, hinting at growing institutional interest and market traction for these assets.
Meanwhile, following Binance’s announcement, the Pepe Coin price soared 4.59% and traded at $0.000006712, while its one-day trading volume rose 10.91% to $1 billion. On the other hand, the OMNI price fell 7.20% to $24.34 at the same time, with its trading volume declining 13% to $68.50 million.
Also Read: Ripple Files Opposition, Agrees to Pay $10M In Penalty To US SEC
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