Binance opens two new markets for Cardano and NEO

26 Mar, 2019
by Jelmer van der Dussen
Binance opens two new markets for Cardano and NEO

Binance is opening more markets for the stablecoins Paxos Standard ($PAX) and USD Coin ($USDC) on Wednesday. In a statement released on Tuesday, the exchange announces that it will open trading for Cardano and NEO in pairs with PAX and USDC.

For both ADA and NEO it's the sixth and seventh pair on the Binance exchange. Next to PAX and USDC, Cardano and NEO are also available for trading against Binance Coin, Bitcoin, Ethereum, TrueUSD and Tether. PAX and USDC now have 18 pairs: ADA, BCHABC, BCHSV, BNB, BTC, BTT, EOS, ETH, LINK, LTC, NEO, TRX, USDC, USDS, WAVES, XLM, XRP and ZEC.

PAX is a regulated stablecoin issued by the Paxos Trust Company and pegged one-to-one to the dollar. USDC is also pegged to the dollar, and is the stablecoin created by Coinbase. There are three other stablecoins on the Binance exchange: Tether, TrueUSD and the recently listed USDS (Stronghold USD), which is available for trading against BNB and BTC.

Cardano is currently ranked 10th on Coinmarketcap with a market cap of over $1.5 billion. ADA is experiencing an upwards trend in the last week, climbing from $0.050 to $0.061. Even during the dip in the market the last few days, Cardano is holding strong. NEO is ranked 17th with a market cap of over $580 million.

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