Cryptocurrency exchange Binance announced new developments for its staked Solana (SOL) token, known as BNSOL, in an announcement made on October 10. Binance announced that it has added BNSOL to its “Earn, Convert, and Margin” platforms, and aims to expand users’ trading opportunities with these new integrations. BNSOL was recently listed on the Binance exchange, and this development has increased optimism about the token’s long-term potential.
Binance introduces new options for BNSOL
In an official announcement dated October 10, Binance announced that BNSOL will now be included in its “Earn,” “Convert,” and “Margin” platforms. As of 11:00 UTC, flexible products and simple earning options will be offered for the BNSOL token under the name “Simple Earn.” Users will be able to exchange the token with other cryptocurrencies such as SOL, BTC, and USDT with zero transaction fees in the “Convert” section. These transactions will become active within an hour of the token being listed on the spot trading platform.
Binance also announced that it will be launching cross and isolated margin trading for BNSOL as of 11:00 UTC on October 14. With these new trading options, BNSOL will be able to be traded in various pairs along with SOL. These developments reinforce Binance’s support for the staked Solana token and strengthen the general optimism in the market. This indicates that the listing of BNSOL has created great excitement among market participants.
Binance also announced that it will offer three different ways for its users to stake their SOL tokens. Users can easily stake their tokens by going to the ‘SOL pledge’ section on Binance’s ‘financial management’ page. In addition, SOL can be staked and BNSOL can be purchased via the Binance Web3 wallet. At the time of writing, BNSOL was trading at $139.5, losing nearly 3% in value in the last 24 hours. Similarly, SOL has dropped to $139, falling by 2.5%.
Announcements for various cryptocurrencies from WOO X and CoinUp
Another important development took place on the WOO X exchange. According to the official announcement, WOO X announced that it will launch the MOODENG/USDT trading pair at 16:00 on October 10. In addition, the MUMU/USDT trading pair will be available at 16:00 on October 11, and the deposit channel for this transaction will be activated at 10:00 in the morning. These new trading pairs offered by WOO X are seen as part of the exchange’s strategy to diversify its trading options. Users will be able to manage their portfolios more flexibly by trading these USDT-based trading pairs.
According to another announcement made on October 10, crypto and derivatives trading platform CoinUp.io has launched derivatives contract trading for three major tech giants, Apple (AAPL), Nvidia (NVDA), and Tesla (TSLA). This move is considered a significant step in CoinUp.io’s diversification of trading products and aims to provide global investors with more diverse investment opportunities. CoinUp.io has previously launched derivatives products for gold (XAU), silver (XAG), and the Nasdaq Index (NAS100). Now, users will be able to trade USDT-based contracts on derivatives based on stocks of major companies such as Apple, Nvidia, and Tesla.
Coinbase launches ARKM contract
Finally, Coinbase International and Coinbase Advanced have launched perpetual contracts for the ARKM (Arkham) token. Limit, market, stop loss, and limit stop orders are now available to users.
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