Binance.US, the US arm of Binance, one of the world’s largest cryptocurrency exchanges, made an important announcement that closely concerns investors. The exchange announced that it will remove Cudos (CUDOS), an altcoin, from the platform. In addition to this development, Binance opened the door to new projects and offered the opportunity to invest in high-potential assets such as EigenLayer (EIGEN). These two developments had remarkable repercussions in the cryptocurrency market.
Binance.US delisted Cudos
Binance.US announced in a recent official statement that it will remove Cudos from the platform because it will not support the Artificial Superintelligence (ASI) conversion. This decision can be interpreted as part of the exchange’s strategy to focus on its future projects. The trading operations of Cudos (CUDOS) were terminated as of September 26, 2024. In addition, users’ deposit transactions were closed at 05:00 on September 29, 2024, Turkey time (TSI).
However, BinanceUS has provided some flexibility to investors, stating that CUDOS withdrawals will continue until further notice. In addition, users will have the opportunity to convert their CUDOS assets into USDT until 18:00 on September 29, 2024. This gave investors the opportunity to evaluate their assets on another exchange. It is noteworthy that there was no significant decrease in the value of CUDOS during this process.
According to CoinGecko data, the CUDOS price did not show any significant change after the delisting news spread and was still trading at $ 0.00118 at the time of writing. Interestingly, the global version of the exchange announced that it would support CUDOS’s ASI conversion. This situation shows that there may be strategic differences between BinanceUS and Binance Global.
Binance’s investment opportunity for EigenLayer
Binance continues to offer its investors opportunities to invest in different projects. In this context, EigenLayer (EIGEN) was listed on the Binance Earn platform. EIGEN was made available to investors in various services such as Binance’s “Buy Crypto”, Binance Convert, Margin and Auto-Invest. EIGEN will be included in the flexible products category on Binance Simple Earn and will be available to investors on October 1, 2024. Starting on October 2, 2024, users will be able to purchase EIGEN on the Binance Auto-Invest platform. This creates a significant opportunity for investors to earn more in the future. Users will be able to purchase EIGEN with popular payment methods such as VISA, MasterCard, Google Pay and Apple Pay.
EIGEN will also be available on the Binance Convert service, allowing users to trade with BTC, USDT and other popular tokens. On the Binance Margin platform, EIGEN will be offered as a borrowable asset. On this platform, trading transactions can be made on EIGEN/USDT and EIGEN/FDUSD trading pairs. These services, which will be active on October 1, 2024 at 07:00, offer a wide range of transactions to margin investors. The Binance Futures platform also offers opportunities for EIGEN investors. On October 1, 2024 at 06:00, the EIGEN Perpetual Contract (USDⓈ-M) will start trading, offering investors the opportunity to trade with up to 75x leverage. This stands out as a very attractive option for investors looking for high earning potential.
Tick size change draws attention
Binance continues to make some important adjustments in order to improve the trading experience and increase market liquidity in the cryptocurrency market. In this context, it was announced that the tick size of the SOL USDⓈ-M and COIN-M Futures contracts will be changed on October 14, 2024. With this change, the price ticks in the SOLUSDT and SOLUSDC trading pairs will be increased from 0.001 to 0.01. This regulation will also cover API users, who will be able to access the most up-to-date price tick information via the API.
New tokens on Binance Earn
Binance announced that it has added Toncoin (TON), Notcoin (NOT), and Dogs (DOGS) tokens to the Binance Dual Investment platform in order to offer additional earnings to its investors. These new tokens allow investors to earn extra earnings by buying at low prices and selling at high prices. While different target prices are offered for TON, NOT, and DOGS tokens, returns will be transferred to investors’ accounts every Friday at 08:00 (UTC). With these new tokens, investors will have the opportunity to reach annual returns of 15% and above.
As a result, these moves by Binance both offer new investment opportunities for platform users and have the potential to change the dynamics in the crypto market. While Binance.US’s decision to delist Cudos can be interpreted as an exchange developing new strategies and trying to respond to market needs, new projects like EigenLayer continue to offer diversified investment opportunities to its users.
To stay up-to-date with the breaking news, follow us on Twitter, Facebook, and Instagram. Join our Telegram and YouTube channel
