- Binance expanded its services on December 14 by introducing six new trading pairs.
- They include SHIB/FDUSD and IOTA/TRY, along with Trading Bots for these pairs and zero maker fees on FDUSD pairs.
Binance Expands Services and Trading Pairs, Igniting Price Surges for SHIB and IOTA
On December 14, Binance, the world’s largest cryptocurrency exchange by trading volume, made significant strides in expanding its services by introducing six new trading pairs. The newly added pairs include SHIB/FDUSD, SAND/FDUSD, FIDA/TRY, INJ/FDUSD, IOTA/TRY, and MEME/ETH.
Alongside this expansion, Binance also unveiled Trading Bots services for these pairs, offering users an additional tool for their trading strategies.
Notably, the exchange is providing zero maker fees on FDUSD trading pairs, a move that is set to persist “until further notice.”
Shiba Inu and IOTA Prices Affected
The announcement triggered a swift response in the market, with some digital assets experiencing substantial price increases within 24 hours of the news. Shiba Inu (SHIB), a popular memecoin, surged over 7%, while IOTA (IOTA) saw an impressive rise of over 15%.
What the New Pairs Mean for Binance
One notable aspect of Binance’s expansion is the introduction of trading pairs with the Turkish lira (TRY). This move aligns with the growing interest in cryptocurrencies within Turkey, a trend fueled by concerns over the depreciation of the national currency and broader economic uncertainties.
By incorporating TRY trading pairs, Binance is strategically catering to the evolving demands of the Turkish market, providing users with more diverse options and access to a broader range of digital assets.
The decision to offer zero maker fees on FDUSD pairs adds an extra layer of incentive for traders, potentially encouraging higher trading volumes on these pairs. The absence of maker fees can contribute to increased liquidity and market activity, fostering a more dynamic trading environment for users.
As Binance continues to adapt and expand its offerings, these developments highlight the exchange’s commitment to staying at the forefront of the cryptocurrency market. The positive market response to the new trading pairs and services underscores the impact that major exchanges can have on the broader crypto ecosystem, influencing asset prices and shaping market trends.
