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Binance Futures Drops XRP and TUSD Support in Multi-Assets Mode

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Binance Futures, a major segment of the world’s largest cryptocurrency exchange, Binance, has announced its decision to drop support for XRP (Ripple) and TUSD (TrueUSD) on its platform. This strategic move is part of Binance’s ongoing efforts to optimize its futures trading offerings and focus on other key assets that align with market demand and regulatory standards.

Binance Futures will cease support for XRP and TUSD futures contracts on a specified date. Traders are advised to close their positions before the cutoff to avoid any potential liquidation.

Existing positions in XRP and TUSD futures contracts will be forcibly liquidated after the discontinuation deadline. Users are encouraged to manage their portfolios accordingly to mitigate risks and potential losses.

While Binance has not explicitly detailed the reasons for discontinuing support, it is speculated that regulatory pressures and market dynamics play a significant role. The exchange continually reviews its product offerings to ensure compliance with global regulations and to adapt to changing market conditions.

Implications for Traders

Traders who actively trade XRP and TUSD futures will need to adjust their strategies. This may involve transitioning to other supported futures contracts or diversifying their portfolios to include spot trading and other investment options available on Binance.

The removal of these contracts might lead to short-term volatility in the prices of XRP and TUSD as traders liquidate their positions. However, given the liquidity and resilience of these assets, long-term impacts are expected to be minimal.

Binance continues to support a wide range of futures contracts, including those for Bitcoin (BTC), Ethereum (ETH), and other prominent cryptocurrencies. Traders are encouraged to explore these alternatives to find suitable opportunities for their trading strategies.
Conclusion
The decision by Binance Futures to drop support for XRP and TUSD underscores the exchange’s commitment to maintaining a robust and compliant trading environment. While this move necessitates adjustments for affected traders, it also reflects the dynamic nature of the cryptocurrency market and the need for platforms to adapt to regulatory and market shifts.

Source: blockchain.news

The post Binance Futures Drops XRP and TUSD Support in Multi-Assets Mode appeared first on HIPTHER Alerts.

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Blockchain

Move and earn leader STEPN drops new app and gaming token

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FSL, the global gaming and development studio behind web3 lifestyle app STEPN, NFT marketplace MOOAR, and social-strategy game Gas Hero, has officially announced the launch of STEPN GO. The new product is a social lifestyle app that rewards your daily movement and social interactions. Today marks an exciting milestone with the release of the STEPN GO Whitepaper and Tokenomic model. The game introduces a new token, GO GAME TOKEN (GGT), which users can earn by walking, jogging, and running with digital NFT Sneakers. There will also be a PvP game feature that allows users to earn GMT, the FSL Ecosystem token.

The original STEPN app was launched in 2021 and remains the world’s leading ‘Move and Earn’ application, pioneering the genre of gamified web3 fitness applications. With over 5.6 million registered users and over 1 million Sneaker NFTs owned by players, STEPN achieved monumental success, acquiring a global community. STEPN has partnered with prolific brands over the years including ASICS, Steve Aoki, and most recently adidas. STEPN was also the first blockchain gaming app to integrate Apple Pay, creating a seamless onboarding experience for web2 native users.

Yawn Rong, Co-Founder of FSL commented, “The STEPN community has been requesting social features within the app since the early days of STEPN. Therefore, we’re so excited to reveal these new features, which will propel STEPN GO into mainstream adoption. In addition to the Haus Mechanism and Interactive Map, we will also implement PvP elements within the app. Community is at the heart of everything we do at FSL, and we are ecstatic to announce this monumental milestone today, reinforcing our commitment to empowering and engaging our users.”

Building on the success of STEPN, FSL has designed unique social features within STEPN GO. The first key social element is the ‘Haus System’, which is a lending system that allows users to share their Sneaker NFTs with friends and family members who are new to the app, and split their earnings. This system will enable easy onboarding for new users to enjoy the app and kickstart their fitness journey. Another unique feature will be the ‘Interactive Map’, which will allow users to see other players’ avatars and even add them as friends within the platform. This Interactive Map will also allow users to drop messages that can be found by other players out doing STEPN GO runs.

Jerry Huang, Co-Founder of FSL added, “With STEPN GO, anyone can onboard their friends and family to web3 without needing to create a wallet or even buy NFTs. Exercise will be more fun and rewarding. We will combine fitness with many enjoyable experiences, including having your own customizable avatars with unique outfits!”

The Alpha Version of STEPN GO is set to launch by Q3 2024 with a Sneaker NFT Alpha Prize Draw lasting one month. A total of 3,000 Sneaker NFTs will be distributed within the app. To enter, users will be required to lock GMT. Access to the Alpha Prize Draw will be limited to FSL ID users, ensuring the most loyal FSL community members are rewarded. An additional 2,000 Sneakers will also be given away via the STEPN X account and STEPN GO Discord. Make sure to follow STEPN on X for your chance to win a Sneaker and gain early access.

The post Move and earn leader STEPN drops new app and gaming token appeared first on HIPTHER Alerts.

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Blockchain

CBiGroup Completes $15M Series A Funding, Focuses on R&D

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CBiGroup Completes $15M Series A Funding, Focuses on R&D

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Correction: CBiGroup Completes $15M Series A Funding, Focuses on R&D

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CBiGroup Completes $15M Series A Funding, Focuses on R&D

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