While the cryptocurrency market continues its active course, exchanges continue to update their lists without slowing down. Binance, the world's largest crypto exchange, announced that it has added a new altcoin to its platform. After this announcement, the price of the token in question began to rise from the bottom levels.
Binance Adds SLF to List on New Platforms: Altcoin Takes Off
According to the latest news from Kriptokoin.com, crypto exchanges are constantly updating their lists. Finally, the giant exchange Binance has added the altcoin called Self Chain (SLF) to its various platforms. Binance announced this development with the following statement:
"Dear Binance users, Binance is excited to announce that Self Chain (SLF) has been added to Binance Simple Earn, 'Buy Crypto', and Binance Convert platforms. Additionally, SLF will be added to Binance Margin on August 30, 2024 at 10:00 (UTC) and Binance Auto-Invest on September 2, 2024 at 10:00 (UTC)."
Following this news, the price of SLF rose from $0.60 to $0.70 during the day. At the time of writing, the token was trading at $0.69.
Access to SLF on Binance’s Platforms
Simple Earn: Users will be able to subscribe to SLF Flexible Products on Binance Simple Earn. Starting September 2, 2024, users can purchase SLF via Binance Auto-Trading.
Buy – Sell Crypto: Users can directly purchase SLF using credit/debit cards, Google Pay or Apple Pay. There is also the option to buy and sell SLF with existing wallet balances.
Convert: SLF can be traded with zero fees against BTC, USDT, and other tokens supported by Binance Convert.
Margin: Binance Margin will offer SLF as a new borrowable asset for Cross and Isolated Margin trading on August 30, 2024, and will add SLF/USDT and SLF/USDC pairs.
Binance’s latest announcement also revealed that the exchange has added new trading pairs for cross and isolated margin for tokens like TON and DOGS. This move is seen as part of the exchange’s effort to improve its user offerings while also increasing market support for these tokens. The pairs included in the new cross and isolated margin pairs are:
ALGO/USDC, APT/USDC, ARKM/USDC, BLUR/USDC, DOGS/USDC, JUP/USDC, ONT/USDC, RARE/USDC, REZ/USDC, TNSR/USDC, TON/USDC.
Usually, Binance listing announcements have a positive impact on the price of a digital asset. For example, Binance’s listing on Tranchess (CHESS) futures yesterday saw the token’s price increase by around 41%. Also, VIDT DAO saw its price increase after it was listed on CEX. Such past examples, along with today’s launch of new cross and isolated margin pairs, could increase investors’ interest in the relevant tokens.
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