Binance, one of the world’s leading cryptocurrency exchanges, has announced the launch of new spot trading pairs and advanced trading bot services for several tokens, including DOGS, Pepe Coin (PEPE), Solana (SOL), and others. Despite this optimistic development, these tokens, along with the broader cryptocurrency market, have experienced a significant downturn.
In an official release today, Binance revealed that it will introduce new spot trading pairs, specifically DOGS/BRL, DOGS/USDC, RARE/BRL, and RARE/USDC. These pairs are set to go live at 13:00 UTC on August 28. Alongside this, the exchange is rolling out Spot Grid and Spot DCA trading bots for other pairs, including 1000SATS/TRY, BONK/TRY, ETH/EUR, PEPE/TRY, SOL/EUR, and USDC/USDT. Additionally, Spot Algo orders will be available for DOGS/BRL, DOGS/USDC, RARE/BRL, and RARE/USDC.
This move is seen as a strategic expansion of Binance’s offerings, aiming to provide users with more diverse trading options in various fiat currencies, thereby increasing global exposure for the listed tokens. However, Binance also noted that the listing details might be updated periodically to ensure compliance with legal and regulatory requirements.
Despite the positive announcement, the affected tokens have not escaped the broader market’s bearish trend. The global cryptocurrency market cap has dropped by over 5% today, leading to a widespread decline in token prices.
The DOGS token, for instance, has fallen by 5% in the past 24 hours, trading at $0.001226. This decline follows a recent recovery from a significant price crash after a massive 502.48 billion token unlock. Similarly, Pepe Coin (PEPE) saw an 11% decrease, trading at $0.000007697, while 1000SATS dropped 13% to $0.0003185. Solana (SOL) also suffered a 7.50% decline, now trading at $147.42.
Ethereum (ETH) didn’t fare much better, tumbling 8% over the past day to $2,466, while BONK and RARE also recorded substantial losses, with their prices sinking by 10% and 6.10%, respectively.
Market participants remain hopeful that these tokens will experience a recovery as market conditions stabilize. However, for now, the bearish trend persists despite Binance’s efforts to enhance trading opportunities through new listings and advanced trading tools.
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