Binance plans to list a multi-chain NFT marketplace called Magic Eden (ME). Binance, the world’s largest cryptocurrency exchange by daily trading volume, will list ME with a seed tag. On the other hand, 4 altcoins supported in the exchange’s “unified mining” service were revealed. Here are the details
ME gets listed on the Binance exchange
On December 10, 2024 at 18:00 TSI, some spot trading pairs for ME, namely ME/BTC, ME/USDT, ME/FDUSD and ME/TRY, are expected to open for trading. Users can start investing in ME before they start trading. Withdrawals will open on December 11, 2024 at 18:00 TSI. According to the exchange, ME will be listed with a seed tag. So, for now, it will act differently from other cryptocurrencies on the platform. The exchange notes that ME is a new and risky token and may experience high price fluctuations. Therefore, users are advised to conduct adequate risk management and do their own research. The exchange says the following about the seed tag implementation:
ME is a relatively new token with higher than normal risk and is likely to be subject to high price fluctuations. Users should practice adequate risk management and DYOR (do your own research) to fully understand the project before opting to trade the token. Seed tags represent innovative projects that may exhibit higher volatility and risk compared to other listed tokens. The seed tag will be applied to ME.
In addition, Trading Bots and Spot Copy Trading will be enabled for ME within 24 hours of listing on Spot. ME is described in Binance’s announcement as a multi-chain NFT marketplace. Notably, if you are knowledgeable in the NFT space, you may have heard of Magic Eden. A while ago, Magic Eden announced the ME token. As a governance token, $ME allows its holders to propose or vote on changes, upgrades or adjustments to Magic Eden’s platform operations.
Unified mining support on Luckycoin
On the other hand, the exchange announced a unified mining support. Because Binance Pool officially launched Luckycoin (LKY) unified mining. This means that by mining Litecoin (LTC), you can earn rewards in LTC, Dogecoin (DOGE), Bellscoin (BEL), and Luckycoin (LKY). The exchange also reset the pool fee for Luckycoin (LKY) during the promotional period. The mining process starts on December 10th. However, it’s worth noting that Luckycoin (LKY) and Bellscoin (BEL) are not currently listed on Binance.com. This means that these two coins are not tradable. According to the exchange, the launch of LKY and BEL mining services on Binance Pool does not guarantee a token listing on Binance.com.
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