The cryptocurrency market is having an active day today. While many new tokens are listed on different exchanges such as Binance, investors are following the developments with excitement. In this article, we will examine some important tokens listed and their stock market movements as of June 20, 2024. Here are the details…
Binance is making a new listing: LayerZero (ZRO)
Cryptocurrency exchange giant Binance announced today that it has listed the LayerZero (ZRO) token. ZRO is defined as a permissionless Omnichain interoperability protocol. This protocol aims to facilitate communication in the cryptocurrency ecosystem by providing lightweight messaging between different Blockchains. Binance has opened ZRO/BTC, ZRO/USDT, ZRO/FDUSD and ZRO/TRY trading pairs for ZRO.
While users can now start depositing ZRO to make transactions, withdrawals will be possible as of June 21, 2024. Binance also announced that it will not charge any listing fees for ZRO. However, Binance also stated that it applied a “seed tag” for ZRO. Seed tag is a marking used for newer and high-risk projects. This highlights that ZRO is likely to be subject to high price volatility and investors should conduct thorough research before trading.
What projects are listed on other exchanges?
There was activity in the cryptocurrency market outside Binance today. Here are other important developments:
- Bitget: Lists the LinqAI (LNQ) token with the LNQ/USDT trading pair.
- LATOKEN: Lists Nectar (NEC) token.
- Gate.io: Lists the Spacemesh (SMH) token with the SMH/USDT trading pair.
- BitMart: Will list Land Wu (LANDWU) and Neva (NEVA) tokens with LANDWU/USDT and NEVA/USDT trading pairs at 17:00 UTC, respectively.
- BingX: Lists the BobaCat (PSPS) token with the PSPS/USDT trading pair.
- XT.com: Listed the Undeads Games (UDS) token with the UDS/USDT trading pair.
- Indodax: Lists Aerodrome Finance (AERO) and Velodrome Finance (VELO) tokens at 17:00 UTC.
- Bitfinex: Lists Bridged USD Coin (LayerZero) (LZUSDC) token with trading pairs ZRO/USD and ZRO/USDt.
- MEXC Global: Lists the Aqualibre (AQLA) token with the AQLA/USDT trading pair.
What do exchange listings mean for altcoins?
While these listings offer new opportunities for investors, they also increase the recognition of innovative projects in the market. However, as always, investors need to do their own research and manage their risks well before trading. In particular, tokens marked with seed tags require extra attention as they carry high risk. The cryptocurrency market had an active day with new listings today. Investors should take their steps by paying attention to risk management while evaluating new opportunities. Following such developments and reading the market correctly will increase investors’ chances of success.
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