thenewscrypto.com
- Binance to list a new Cardano pair.
- $ADA/$TUSD will go live on May 31.
- The listing could potentially cause the $ADA network to grow.
Cardano strives to offer a secure and scalable blockchain platform designed to facilitate the execution of smart contracts and the development of decentralized applications. Launched in 2017 by a team of engineers, mathematicians, and blockchain experts, Cardano combines rigorous academic research with advanced technology to offer a more sustainable and inclusive ecosystem.
In a recent development, Binance, a prominent cryptocurrency exchange, has announced the listing of the $ADA/$TUSD trading pair, potentially impacting the growth trajectory of Cardano ($ADA). This listing is expected to enhance $ADA’s liquidity and contribute to the overall expansion of the network, leveraging the extensive user base and market reach of Binance.
New Cardano pair to go live on May 31
The $ADA/$TUSD trading pair is scheduled to launch on May 31, 2023, at 8:00 a.m. (UTC). Binance plans to introduce Spot Grid for the newly listed trading pairs within 48 hours of the trading start time, offering zero maker fees on the $ADA/$TUSD and LTC/$TUSD spot and margin trading pairs for an unspecified duration.
The DeFi surge on Cardano has played a significant role in driving the growth of Total Value Locked (TVL) on the network. Additionally, $ADA has shown strong performance in the market by rebounding from the local trendline at $0.35 and currently moving in an upward direction. An interesting development to note is that approximately 3 million Cardano ($ADA) addresses are experiencing losses, prompting analysis based on various indicators.
The recent listing of $ADA on Binance is expected to further accelerate Cardano’s expansion and adoption. With increased exposure and liquidity on Binance, there is a potential for $ADA to attract more traders and investors, subsequently driving its market demand and potentially influencing its price. According to CoinMarketCap data, Cardano is trading at $0.378 at press time.