#Circle扩大IPO规模 A trading pair refers to two different types of assets that can be exchanged in a market. In cryptocurrency, for example, a trading pair often involves two different currencies, like BTC/USDT, where Bitcoin (BTC) can be exchanged for Tether (USDT), or vice versa. The first asset in the pair is typically the base currency, and the second one is the quote currency. Trading pairs provide liquidity, determine the price of an asset, and give traders flexibility in exchanging one asset for another. These pairs exist across various financial markets, including forex, stocks, and digital assets.