Binance Increases Crypto Trading Options With Turkish Lira, Adds 11 Other Trading Pairs

In continuation of its listing spree, Binance has listed 12 new trading pairs. This comes only days after the largest exchange in the world by trading volume listed seven new trading pairs.

Binance Adds 12 new Trading Pairs

The new trading options are ATOM/BIDR, FARM/ETH, DYDX/ETH, ICP/TRY, LINA/BNB, JASMY/ETH, ROSE/ETH, OOKI/ETH, XTZ/ETH, UNI/ETH, and UMA/BUSD.

The new additions show how important ETH is in crypto trading. DYDX is the governance token of the Layer 2 protocol with the same name. The token, which in September 2021 was one of the best performing cryptocurrencies, has seen its value rise by 9% in the past 24 hours.

Binance also added one more pair for Cosmos to increase it to 8 on the exchange. It has an unlikely pair in BIDR, a stable digital currency anchored to Indonesia rupiah. ATOM has been performing well in the past weeks, with an 88% rise in the last 30 days.

OOKI is another coin that had a pair in the last listing and this one. It has been on a downtrend for a while now, but more people will be able to buy the dip with a new ETH pair joining the USDT, BUSD, and BNB pairs.

Tezos’ XTZ also gets a nod with an ETH pair. XTZ is the native Token of Tezos, a blockchain network similar to Ethereum but with better infrastructure and scalability features. XTZ has been in existence since 2017, and has a current market cap of close to $4 billion.

The tokens are likely to see an uptick in value with these new pairs. More pairs offer different options for those who want to trade the token and will likely increase overall trading.

Binance Increases Crypto Pairing With Turkish Lira

If these new listings reflect customers’ desire, it appears that Binance customer base in Turkey is growing as the number of pairs with the Turkish Lira continues to increase. With this new addition, there are now two new Turkish Lira (TRY) trading pairs on Binance within the past week.

It is important to note that several reports have revealed that Turkey’s inflation rate has hit over 36%, which is a 19-year high. This collapse has forced many of its citizens to use digital assets like Bitcoin, USDT, and others to hedge against the rising inflation.

Binance appears to be taking advantage of this by increasing the pairing of the country’s fiat currency with more digital asset pairing.

Internet Computer (ICP) Rises by 20% in 24 Hours

The Internet Computer (ICP) token has grown by around 20% in the past 24 hours. With this has also come a rise in market cap as it now has around $6.8 billion in market cap pushing it into the top 30 crypto assets by market cap.

Internet Computer Protocol Value Rises by 20% in 24 Hours

The digital asset, ICP, is the native token of the Internet Computer blockchain. This public network provides smart contracts with limitless power that’ll enable them to operate at web speed and scale while reducing computing costs. 

Created by Dfinity, the blockchain claims to be the third iteration after Bitcoin, the flagship digital asset, and Ethereum, which powers DeFi.

According to the founder, Dominic Williams, Internet Computer blockchain will be the next big thing for Web 3.0. It will reduce the dominance of big tech companies while creating a free and open internet with limitless capabilities. 

But the network is yet to live up to its promise since its launch in 2016 and has also had its fair share of controversies. 

In May 2021, its token reached an all-time high of $750.73, but it would later plunge, losing more than 90% of its value within days. Many community members accused the Dfinity team of wrongdoing, claiming that they were complicit in the rapid drop in price. 

This led to a hard fork in the Internet Computer Protocol to create the Internet Computer Reboot (ICPR), which is more decentralized and seeks to ensure early contributors and seed investor allocation of tokens based on their initial contributions.

ICP Bold Moves in Recent Times

Notwithstanding the massive drop in value that had the ICP token trading under $50 by late June last year, the project has continued to soldier on and even announced some developments in late 2021. 

Last year’s September, it announced an integration with Bitcoin that’ll make it possible for its smart contracts to operate directly on Bitcoin balances. In November, Origyn Foundation, an NFT project on ICP, raised $20 million in a funding round, and in December, it integrated with the hardware wallet, Ledger.

It appears all those developments are now paying off as the price has recorded some level of progress in recent days. Per data on Coingecko, its value has increased by over 18% in the last 30 days and by 55% within the last 14 days. 

As of press time, the token is currently trading at $36 on Coingecko, which is still far from its ATH but still some good news for those that are bullish about the project.

Internet Computer: Fast-Rising Crypto Challenging Amazon and Microsoft

Internet Computer at the time this report was drafted, is currently the eighth-most valuable crypto with a market value of about $43 Billion.

Though recent price actions reveal the token has suffered some pullbacks some hours ago, investors are however betting high on the crypto because it enables anyone publish anything they want onto the internet with so much ease without going through cloud service providers like Microsoft and Amazon with the main objective of reducing operational costs.

The Internet Computer traded at $346.91 with a daily trading volume of $1.3 Billion. The Crypto founded by Dominic Williams is down 22% for the day.

The project’s token is already listed on a number of high-profile crypto exchanges that includes Binance, Coinbase, OKEx

The newly listed crypto asset is the first blockchain that operates on web speed with unrestricted capacity with a capability of scaling contract computation and data, processes and keeps data adequately, and most importantly facilitates powerful software frameworks to developers.

The Internet Computer’s functionality is similar to Ethereum, taking to account it depends on the use of smart contracts, or software programs in carrying out instructions, thereby competing with other related networks that include Binance Coin Polkadot fighting hard to steal Ethereum’s market share.

The company has been able to raise about $121 million from leading venture capital firms that include, SV Angel, Aspect Ventures, ZeroEx, Scalar Capital, Andreessen Horowitz, Polychain Capital, Electric Capital, Multicoin Capital, and several Ethereum fans.

Internet Computer officially went open-source on Monday a move that will permit developers in building the code and affirm that it derives from the same binary image that is referenced in upgrade proposals issued via the Network Nervous System