The world’s largest crypto exchange Binance on Thursday said it has added DOGE/TUSD trading pair in an effort to increase Dogecoin trading volume on the crypto exchange. Binance currently has Dogecoin listed with USDT and BUSD trading pairs.
The move by Binance is expected to push DOGE price above $1 in a sudden rally as it leads the market when it comes to Dogecoin trading. Traders didn’t immediately respond to Binance’s DOGE/TUSD pair listing.
Binance Adds Dogecoin TUSD Trading Pair
According to an official announcement on April 27, Binance will add Dogecoin with TUSD trading pair. The trading for the DOGE/TUSD trading pair will open at 08:00 UTC on April 28. In addition, Binance has also added USDT/ARS and WBTC/USDT.
Further, the crypto exchange announces that it will enable the Binance Spot Grid for the DOGE/TUSD and WBTC/USDT trading pairs within 2 days of opening trading for the pairs.
TrueUSD team took to Twitter to reveal yet another effort by Binance to boost the market presence of TUSD stablecoin. After the BUSD crackdown by the U.S. regulators, Binance has switched to the lesser-known TUSD. The exchange now only offers zero-fee trading in the TUSD pair, after it ended zero-fee Bitcoin trading for all other pairs last month.
.@binance will add $DOGE/TUSD trading pair at Apr 28th 08:00 (UTC)
Binance Spot Grid will be enabled for the trading pair within 48 hours of the trading start time. https://t.co/b1qqU3R7Qu
— TrueUSD (@tusdio) April 27, 2023
Binance dominates the crypto market in terms of trading volumes. DOGE/USDT on Binance accounts for 20% of total trading volume, four times that of DOGE/USDT on OKX and DOGE/BUSD on Binance. In the perpetual market, Binance dominates with 25% of trading volume on DOGE/USDT pair.
Also Read: Binance Adds Bitcoin, Shiba Inu, Dogecoin, Stablecoins To Liquid Swap
The DOGE/TUSD is expected to boost Dogecoin’s overall trading volume. It will help increase liquidity and DOGE price. Traders can anticipate Dogecoin price to surpass $1.
At the time of writing, DOGE price trades at $0.079, down 2% in the last 24hrs. The 24-hour low and high are $0.0761 and $0.083, respectively. Furthermore, the trading volume has increased by 100% in the last 24 hours, indicating a rise in interest among traders.
Also Read: US House Investigating Potential Operation Choke Point 2.0 To De-Bank Crypto
The post Dogecoin (DOGE) Price To Hit $1 After This Binance Announcement appeared first on CoinGape.
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