ORCA and ACX exploded after Binance announced its listing

Binance announced plans to list Orca (ORCA) and Across Protocol (ACX) as well as open trading for multiple spot trading pairs.

The trading platform regularly adds or removes Tokens from its product portfolio as part of periodic performance reviews to ensure it meets industry requirements, while maintaining high standards.

Binance’s New Listings: ORCA and ACX

According to the official announcement from Binance, ORCA and ACX Tokens will be available for trading against stablecoin USDT starting December 6 at 13:00 GMT. Withdrawals will be opened 24 hours after listing.

“New spot trading pairs: ACX/USDT, ORCA/USDT, users can start depositing ACX, ORCA to prepare for trading,” Binance said.

Notably, this listing is fee-free, meaning users can trade Tokens on the platform without paying any transaction fees. The no-fee feature is one of the advertising strategies applied by exchanges to attract more users.

The Binance exchange will also apply a seed tag to ORCA and ACX, a special identifier to help distinguish them from other tokens. This is a precautionary measure due to the relative newness of new Binance listings in the market, making them susceptible to higher than normal risk and therefore expected price volatility.

Trading of the above mentioned new trading pairs is subject to eligibility based on the user’s country or region of residence. Meanwhile, data on TradingView shows that ORCA and ACX have both recorded exponential growth since their listing announcement on Binance.

Binance Will Delist MAVIA, OMG, BOND

In parallel with Binance’s series of new listings, the largest exchange by trading volume will also close all perpetual contracts of Heroes of Mavia (MAVIA), Omisego (OMG), and BarnBridge (BOND). This means the Tokens will no longer be available for futures trading starting December 16.

“Binance Futures will close all positions and perform automatic settlement on USDⓈ-M MAVIAUSDT, OMGUSDT, and BONDUSDT perpetual contracts on December 16, 2024 at 09:00 GMT. Contracts will be removed once payment is completed,” it said read.

Binance has urged users to close all open positions before the removal deadline to avoid automatic payouts. Additionally, Binance Funding Rate Arbitrage Bot will terminate all arbitrage strategies and liquidate positions on MAVIAUSDT, OMGUSDT, and BONDUSDT pairs. Once delisted, these pairs will no longer support the new arbitrage strategy.

Immediately after this announcement, the value of MAVIA, OMG, and BOND declined. This outcome was to be expected, as token removals from prominent exchanges often trigger large sell-offs. Notably, none of these tokens are available for spot trading on Binance.

General Bitcoin News