Binance’s Announcement Sparks Buzz in the Crypto Community

Binance’s Announcement Sparks Buzz in the Crypto Community

The world’s largest crypto exchange Binance on Tuesday said it is listing new W token by Wormhole, a leading interoperability platform powering multichain applications and bridges. The crypto exchange’s announcement sparked excitement in the crypto community, but the token is listed with seed tag applied.

Other crypto exchanges including OKX, MEXC, HTX, KuCoin, Gate, Bitget, WOO X, AscendEX, BitMart have also announced listing W token.

Binance Announces Wormhole (W) Token Listing

In an official announcement on April 2, crypto exchange Binance revealed Wormhole’s W token listing with seed tag applied. The W token will be available for trading in four spot pairs — W/BTC, W/USDT, W/FDUSD and W/TRY.

Users can now start depositing Wormhole’s W token for now. Also, the token will be available for trading from 12:00 UTC on April 3 and withdrawals for Wormhole will open at 12:00 UTC on April 4.

Binance listing Wormhole’s W token in seed tag that represents innovative projects that may show higher volatility and risks as compared to other listed crypto tokens.

“W is a relatively new token that poses a higher than normal risk, and as such will likely be subject to high price volatility. Please ensure that you exercise sufficient risk management, have done your own research in regards to W’s fundamentals, and fully understand the project before opting to trade the token,” as per the announcement.

Also Read: Experts Reveal Actual Reason Behind Sudden Bitcoin and Crypto Market Crash

Binance Ethena (ENA) Listing

Binance also announced listing Ethena (ENA) to a number of its products and services. ENA is added to Simple Earn, Binance Convert, Binance Margin, Binance Futures, and Binance Auto-Invest. Users can also trade ENA against BTC, USDT and any other tokens at zero fees on Binance Convert.

ENA price debuts 11% lower amid the crypto market selloff. The price currently trades at $0.615. However, trading volumes of over $800 million indicate massive demand for the coin.

Also Read: Crypto Derivatives Exchange Deribit Gets License in Dubai

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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