Binance expands its trading pairs and discontinues BUSD automatic exchange service
On March 11, according to the latest announcement, Binance announced that it would open BNB/TUSD, BTC/TUSD, ETH/TUSD, TUSD/USDT, USDC/USDT and USDP/USDT spot t…
On March 11, according to the latest announcement, Binance announced that it would open BNB/TUSD, BTC/TUSD, ETH/TUSD, TUSD/USDT, USDC/USDT and USDP/USDT spot trading pairs at 22:00 Beijing time today. In addition, Binance has basically stopped the BUSD automatic exchange service of USDC, USDP and TUSD newly recharged by users, and users will no longer be able to withdraw USDC, USDP or TUSD from their BUSD balance. Any user who wants to convert his/her BUSD balance to USDC or USDP in a 1:1 ratio can manually operate it on the Binance Convert. The deadline is 14:00 Beijing time, March 18, 2023.
Binance will reopen the USDC USDT spot trading pair today and launch the TUSD trading pair in BTC, ETH and other currencies
Analysis based on this information:
Binance, one of the world’s leading cryptocurrency exchanges, has recently made an announcement stating that it will be opening up new spot trading pairs. These trading pairs include some of the most popular cryptocurrencies such as Bitcoin, Ethereum, and BNB. Additionally, Binance will be discontinuing the BUSD automatic exchange service for USDC, USDP, and TUSD that will no longer be available to users.
The expansion of trading pairs is an exciting development for cryptocurrency traders who want to explore more options. These new trading pairs create more opportunities for users to trade their preferred cryptocurrencies with ease. It also signals Binance’s commitment to continuously improving its platform and providing its users with the best possible experience.
The discontinuation of the BUSD automatic exchange service may require some users to manually convert their balances to USDC or USDP with a 1:1 ratio. The deadline for this conversion is March 18, 2023. The reason for this discontinuation is not specified in the announcement, but it may be due to internal business reasons or feedback from users.
Overall, this announcement indicates that Binance is actively making changes to its platform to keep up-to-date with the crypto market trends, providing a better user experience, and improving its efficiency.
Keywords:
Trading pairs: Refers to the cryptocurrencies traded with each other, where one is used to buy another.
BUSD: Binance USD is a stable coin, where its value is pegged to the US dollar.
USDC and USDP: Both USDC and USDP are stable coins similar to BUSD.
Deadline: Is the period required to complete a task or make a decision.
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