Binance, the world’s leading cryptocurrency exchange, has made a significant strategic move by introducing XRP and Cardano (ADA) trading pairs against USDC. This move is set to begin on Dec. 28.
This incredible announcement marks the ‘return’ of the stablecoin, USDC, to Binance. Notably, the listing signals a noteworthy development for enthusiasts of XRP and ADA.
USDC is the second-largest stablecoin in the crypto market, with a capitalisation of $24.74 billion. It will play a vital role in these new trading pairs.
Binance to List Other Cryptocurrencies
Binance’s expansion doesn’t stop with XRP and ADA. The platform will also include several other popular cryptocurrencies in its spot market.
This comprehensive addition features assets like Arbitrum (ARB), Avalanche (AVAX), Polkadot (DOT), Polygon (MATIC), Solana (SOL), and other notable cryptocurrencies.
This strategic move aligns with Binance’s emphasis on high-demand, substantial-value assets, many of which have recently witnessed surges in value and trading volumes.
The diversified listings cater to evolving market trends and strengthen Binance’s position as a leading cryptocurrency exchange.
Tokens that get listed on popular exchanges like Binance attract traders in the crypto space as the listing is seen as a catalyst. Essentially, this is also a win for coins listed on Binance.
USDC’s Surprising Comeback Sparks Questions
In a notable turn of events, USDC has unexpectedly returned to Binance’s black and yellow platform. This development contradicts earlier speculations that Binance might sever ties with USDC.
Despite dispelling these rumours, former CEO CZ revealed that Binance had taken measures to limit the circulation of Circle’s stablecoin on its platform.
Interestingly, during the second-quarter financial results report, Coinbase CEO Brian Armstrong disclosed that Binance had entirely divested from USDC, opting to reallocate those assets to another stablecoin.
The unexpected reappearance of USDC raises intriguing questions about Binance’s evolving approach to stablecoins.