Cryptocurrency exchange Binance announced today that it will launch trading bot support for three new trading pairs. These new trading parities were announced as EIGEN/TRY, PEPE/FDUSD and SUI/FDUSD. Users started to benefit from this service as of 11.00 GMT.
Expanding Trading Options
Binance aims to offer more diversity to its users by expanding its trading options. With the addition of these new trading parities, the trading volumes of EIGEN, PEPE and SUI may increase and price mobility may increase.
Trading bots can quickly adapt to market conditions by automatically trading in line with the criteria set by investors.
However, these new services will not be accessible in every country. Users in countries such as the USA, Canada and the Netherlands will not be able to use these trading pairs due to current regulations. This situation once again reveals the diversity of regulatory approaches in the cryptocurrency sector in different countries.
Potential Effects on the Market
With the introduction of new trading bots, trading volumes and market activity of EIGEN, PEPE and SUI may increase. More frequent trading in the market through automated trading systems can help increase liquidity. This may allow spreads to narrow and prices to follow a more balanced course.
Sui reached $1.84 with an increase of 7.01 percent recently and its market value is at $5.08 billion. EigenLayer, on the other hand, increased by 2 percent in the last 24 hours to $3.75, while its transaction volume reached $234.30 million. Pepe is trading at $0.059386 and has recorded an increase of 0.46 percent in the last 24 hours.
Binance continues to offer support for these new trading pairs as well as other popular altcoins. In particular, the presence of assets such as Chiliz (CHZ) on the platform allows users to diversify their portfolios. Despite constantly changing licensing and regulatory requirements, Binance’s efforts to improve the user experience with these new services are notable.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
