The world’s largest crypto exchange Binance on Wednesday said it is launching new spot trading pairs and Trading Bots services for some crypto trading pairs. The crypto exchange plans to launch zero-fee trading for crypto such as Shiba Inu (SHIB), Injective (INJ), and The Sandbox (SAND). Will Binance’s new spot trading pairs and Trading Bots services bring a recovery in these crypto?
Binance Unveils Zero Fee Trading For Shiba Inu
Crypto exchange Binance in an official announcement on December 13 revealed the plan to introduce zero-fee trading for three FDUSD spot pairs. Binance’s users will enjoy zero maker fees for SHIB/FDUSD, INJ/FDUSD, and SAND/FDUSD pairs starting December 14 at 08:00 UTC.
Moreover, Binance will open trading for new spot trading pairs including FIDA/TRY, IOTA/TRY, and MEME/ETH from December 14 at 08:00 UTC. The crypto pairs against the Turkish lira (TRY) have received massive trading volumes in the last few months amid rising inflation in the country.
In addition, Binance will enable Trading Bots services for BLUR/USDT, JTO/USDT, and VANRY/USDT trading pairs. Users can enable Spot Grid, Spot DCA & Rebalancing Bot for above mentioned pairs starting at 08:00 UTC on December 14.
SHIB price jumped 1% in an hour, but still 4% down in the past 24 hours. The price currently trading at $0.00000934. The 24-hour low and high are $0.00000922 and $0.00000975, respectively. Furthermore, the trading volume has decreased by 18% in the last 24 hours, indicating a decline in interest among traders.
INJ and SAND prices also trading more than 6% lower at $24.43 and $0.48, respectively. INJ saw over 40% rally in a week, while SAND also gained 10% in a week. However, the tokens are falling as traders await the Fed rate decision today.
Also Read: Binance, Binance.US, CZ Ask Court To Dismiss SEC Lawsuit With Prejudice
Binance Listing Provides Immense Support
Listing on Binance provided significant support to the crypto project and helped bring some upside momentum in related tokens.
On Dec 5, Binance announced launching zero-fee trading crypto including Ethereum (ETH), XRP, BNB, Solana (SOL), Dogecoin (DOGE), and Chainlink (LINK).
Binance also plans to airdrop crypto worth $500,000, ranging from 1 SHIB to 1 BTC. This means a user can get BTC, ETH, BNB, SHIB, and other cryptocurrencies amounting to $0.00000936 to $42,000 by just making a swap using the newly launched Web3 Wallet.
Also Read: Deutsche Bank, Others To Issue Euro-based Stablecoin
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