Binance made an important announcement on 5 March, in which it informed about closing pre-market trading and starting spot trading for Redstone (Red) Token. This step has become a topic of major discussion in the crypto market, as this change is expected to get more market support for Red Token. Apart from this, another major exchange MexC has also announced to listen to Red Token, which is expected to increase the price of this token further.
What was special in the announcement of binance
Binance said that pre-market trading will be stopped at 09:00 UTC on March 6 in the morning and on the same day, spot trading from 13:00 UTC will start. The beginning of spot trading will increase the liquidity of Red Token, which will further improve the experience of buying and selling tokens for investors. It is clear from this announcement that the target of binance is to make Red Token available for more general trading, so that more investment in the market can be attracted.
recently, Binance announces the closure of P2P on the platform Also, under this decision, Binance is making its service easier and strong to improve its user experience.
Which Spot Buying and Selling Paers will be available
Spot trading for Red on Binance will be in the following pairs.
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Red/BTC
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Red/USDT
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Red/USDC
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Red/Fdusd
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Red/Try
These Pairs will provide investors an opportunity to trade against various major cryptocurrency with Red Token.
Users must know
Binance also announced that users can start depositing Red Token from March 6, so that spots can be prepared for trading. However, Vidral for RED will begin on March 7. In addition, Binance has decided to put a “seed tag” on Red Token, which will indicate this token as a high trading risk token, especially given the volatility of the large crypto market. Do you want to know about other projects related to binance, then you have this article of our website These crypto projects related to binance are best for investment Can read
Mexc also supported Red
Also, Mexc Trade announced on X that it would list to Red Token in his “Innovation Zone & Convert Zone”. Trading on Mexc will start between 12:45 to 13:00 UTC on 6 March, until the conditions of liquidity are met.
Impact on the price of red
Despite the onset of spot trading by Binance, Red Worth saw a decline of 6.5% and has come to $ 0.7988. However, due to an increase in the supply of Red Token (280 million from 40 million to 280 million), there may be some installation in the market. Nevertheless, the growing demand of RED in the crypto market and support given by top exchanges can be seen in a new high level (ATH) at its price. It is clear from this change that there is a lot of interest in the market for Red Token and more changes can be seen in the coming time.
Conclusion
It is likely to increase its market support by major exchanges such as Binance and Mexc by starting spot trading for Redstone (Red) token. Although an increase in the supply of RED can lead to some installation, it can still be seen in the crypto market with its demand and support provided by exchanges. This change gives positive signals for red token and can generate new opportunities for investors.
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