Binance, the world’s largest cryptocurrency exchange by trade volume has announced a new Cardano (ADA) trading pair to its platform. In an announcement made today, the leading crypto exchange confirms the addition of Cardano against TrueUSD (TUSD). For context, TUSD is an ERC20 stablecoin pegged to the value of the United States Dollar.
Hopefully, the new ADA/TUSD trading pair listing might significantly fuel the growth of Cardano. Also, the move might also boost Cardano’s (ADA) general network growth as well as its liquidity.
According to the announcement, the trading pair will be open at 2023-05-31 08:00 (UTC). Furthermore, Binance Spot Grid will also be enabled for the trading pair within 48 hours when the trade time starts.
Binance also noted that it will offer zero maker fees to its users on ADA/TUSD. Other trading pairs announced by Binance to resume on the same day include LTC/TUSD and TUSD/BUSD.
Advertisement
Similarly, users will also enjoy zero marker fees on the LTC/TUSD spot and margin trading till further notice. What’s more, Binancians will be offered zero maker and taker fees on the stablecoin trading pair TUSD/BUSD until further notice.
It is also important to note that the trading volume on the TUSD/BUSD spot and margin trading pairs will not be included in the VIP-tier volume calculation as well as all Liquidity Provider programs during the time of promotion.
Cardano’s network activity surges
The inclusion of a new Cardano (ADA) trading pair on Binance comes at a strategic time when an increase in the network activities on the Cardano network has been reported.
Read Also:
- Cardano Experience Increased Network Activity
- XRP Price Reaches $0.5 With a Surge in Trading Volume
- Dogecoin Experiences Rapid Growth in Transaction Volume
Due to the growing popularity of rising popularity of DeFi on the Cardano blockchain, some notable increase has been measured in its network activities. A significant factor in the network’s rising Total Value Locked (TVL) has been the decentralized finance (DeFi) growth on Cardano. Additionally, ADA is now rising and has effectively broken out above the $0.35 local trendline, demonstrating strong performance on the market. The new listing of ADA/TUSD on Binance is expected to significantly fuel Cardano’s adoption.
Finally, users are reminded that after the promotion ends, standard trading fees will apply to all listed pairs.
Cardano (ADA) price today
Live data from CoinGecko show that the price of ADA today is $0.382080. Cardano is up 0.69% in the last 24 hours. What’s more, it is ranked #7 on the CoinGecko chart with a live market cap of $13,398,763,648.
Source: CoinGecko
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.