Binance Expands Trading with New USDC-Paired Trading Pairs for CVC, SYN, and More

Binance, one of the largest and most influential cryptocurrency exchanges globally, is continuing to enhance its platform by adding a variety of new trading pairs to its spot trading offerings. Starting from March 13 at 08:00 UTC, Binance will introduce several USDC-based trading pairs to its platform, allowing users to trade new tokens with the stablecoin USDC. This move is part of Binance’s ongoing strategy to expand the range of tokens available for spot trading and to provide more flexibility and options for traders.

The new trading pairs announced by Binance include CVC/USDC, EURI/USDC, SYN/USDC, USDC/RON, and VELODROME/USDC. Among these pairs, RON stands out as it represents the Romanian Leu, which will now be paired with USDC, Circle’s popular stablecoin. This step provides Romanian traders and those interested in the Romanian market a unique opportunity to trade directly with a stablecoin that is widely recognized in the cryptocurrency ecosystem.

Additionally, Binance is launching Trading Bots services for these new trading pairs. Trading bots are automated tools that allow users to set up trading strategies and execute trades based on predefined criteria. The introduction of Trading Bots will make it easier for users to execute their strategies on these new pairs with greater efficiency and automation. However, there are some important regional restrictions that users should be aware of. Certain countries and regions, including Canada, Cuba, Crimea, Iran, Netherlands, North Korea, Syria, and the United States, along with territories and non-government-controlled areas of Ukraine, will not have access to these new trading pairs. Users in these regions must also undergo account verification to gain access, as Binance complies with local regulations and sanctions in these areas.

Following Binance’s announcement, several of the tokens listed for the new trading pairs saw positive price movements. The Civic (CVC) token, which is the native token of the Civic identity verification platform, surged by more than 5%, trading around $0.095. This increase is seen as a response to the new visibility provided by its listing in the USDC spot market, as well as the potential new liquidity flowing into the token.

Another token seeing significant gains was Synapse (SYN), which increased by about 5%, reaching a price of $0.183. SYN had been underperforming recently, losing nearly 30% of its value in the past week and over 50% in the last month, but the Binance listing provided a much-needed boost. The Synapse token had previously been listed on Binance Futures in August 2024, but this marks its first standalone listing on the platform, signaling increasing interest in the token from Binance users.

The Velodrome Finance (VELO) token also saw a positive response, rising by 2.2% to $0.048. Despite having experienced a 21.2% decline over the past week and a 34% drop in the past month, VELO managed to break its downward trend after the announcement. Similarly, the Eurite (EURI) token saw slight but steady growth, increasing by 0.3% to $1.09 in the past 24 hours. Over the last few days, EURI has been making small gains, increasing by 2.3% over the past week and 5.7% over the past month.

These price movements reflect growing interest in the newly added pairs and the potential for increased liquidity on the exchange. The timing of these announcements also comes amid a broader trend observed by analysts in the market. For instance, CryptoQuant analyst Darkfost noted that Binance’s Bitcoin whale ratio has been declining, suggesting that large holders of Bitcoin may be easing their selling pressure. This could signal that big Bitcoin investors are cutting down on sell orders, which might help reduce selling pressure on the token and could positively affect its price.

With the launch of these new trading pairs and the accompanying introduction of Trading Bots, Binance is not only offering more options for users but also providing them with tools to enhance their trading strategies. This is likely to boost the platform’s attractiveness and provide new opportunities for traders looking to capitalize on the market’s potential.