Binance Postpones USDC Contract Launch for XRP and SOL
- Binance has introduced important updates for XRP and Solana (SOL) traders and holders in 2024.
- The launch of the USDC margin perpetual contract, originally scheduled for January 3, was postponed due to unexpected market volatility.
- Binance has rescheduled the launch of BTC, ETH, BNB, SOL, and XRP to January 4th, aiming for a smooth trading experience.
As the cryptocurrency industry heads into 2024 with optimism, Binance, one of the leading cryptocurrency exchanges, has brought an important update for XRP and Solana (SOL) traders and holders.
However, unexpected changes in market volatility forced Binance to postpone the launch of USDC margin perpetual contracts, originally scheduled for January 3.
Binance Announcement and Revised Release Schedule
Binance previously announced plans to introduce USDC margined perpetual contracts for BTC, ETH, BNB, SOL, and XRP. The original release date was January 3rd, but was postponed when Binance Futures changed the schedule to January 4th.
This decision follows recent market upheavals and is aimed at ensuring a smooth and favorable trading experience for users.
According to the revised schedule, Binance began launching USDC-margined BTC perpetual contracts on January 4th at 12:30 UTC. Subsequent contracts for SOL, XRP, ETH, and BNB followed at 5-minute intervals.
Cryptocurrency Market Performance of XRP and SOL
As the cryptocurrency market enters the new year, Bitcoin is approaching the $46,000 price threshold, setting a bullish mood. XRP and Solana also got off to a positive start, hitting highs of $0.639 and $117, respectively, on January 2. But the strength was short-lived.
With the downside coming under control, market dynamics quickly changed. Bitcoin has faced significant declines, wiping out most of its gains from the start of the year and hindering its strong surge outpacing traditional assets.
On January 3, the 15th anniversary of Bitcoin’s first block, both XRP and Solana saw notable declines, with XRP plummeting 11% and Solana’s SOL plummeting nearly 20%.
The latest data shows that both XRP and Solana continue to struggle with the aftereffects of the market correction. Over the past 24 hours, both XRP and Solana have seen single-digit losses.
Source: https://thenewscrypto.com/binance-delays-usdc-contracts-launch-for-xrp-and-sol/
