Binance announced a series of updates that included expanding trading options and supporting new assets, which affected the prices of several cryptocurrencies differently.
Starting today, July 29, Binance will list new trading pairs on the Spot trading platform, including:
CVX/USDC, FUN/USDC, and LISTA/USDC
With the availability of supporting these pairs also within trading bot services, along with additional pairs such as:
BCH/USDC and SPK/USDC.
However, the availability of these services will remain subject to geographical restrictions, as users in countries such as the United States, Canada, Cuba, the Netherlands, and Iran are excluded.
Typically, listing cryptocurrencies on Binance leads to improved performance due to increased liquidity.
This has been reflected in the performance of the Lista DAO (LISTA) token, which recorded a daily increase of 22% to reach $0.35.
In contrast, other cryptocurrencies recorded a notable decline, with the CVX token's price dropping by 8%, SPK by 6%, and FUN by 2%.
In the context of lending support, the platform recently added a set of new assets to Binance's loan service, including TRUMP, S, PNUT, VIRTUAL, SSV, HOME, and RESOLV.
Despite this, some of these cryptocurrencies saw a decrease in value immediately following the announcement, with the RESOLV token's price falling by 13% in one day.
The platform also later listed the assets NEWT and SAHARA in the VIP loan program, which also recorded a decline after the announcement.
As an additional step last week, Binance removed the 'Seeds' classification from several meme coins such as BONK, PEPE, and PENGU, which typically indicates recent or high-risk projects, potentially affecting investors' perceptions of them.
