Binance Lists MarsCoin for Spot Trading, Sending Token Up 50% After Announcement
Summary
- Binance said it will list MarsCoin (MARSCOIN) on its spot market and support trading in MARSCOIN/USDT, MARSCOIN/USDC and MARSCOIN/TRY.
- Binance said MARSCOIN will carry a Seed Tag, meaning it may face higher volatility and risk, and users must pass a quiz every 90 days to maintain trading access.
- MARSCOIN’s price jumped about 50% immediately after the Binance spot-listing announcement, while its market capitalization reached about $170 million.
Forecast Trend Report by Period
Binance, the global cryptocurrency exchange, will list MarsCoin (MARSCOIN) on its spot market.
According to a Binance notice on September 4, the exchange will support spot trading in MARSCOIN/USDT, MARSCOIN/USDC and MARSCOIN/TRY starting at 10 p.m. Korea Standard Time that day. Deposits will open one hour after the notice, while withdrawals will begin at 10 p.m. Korea Standard Time on September 5. MARSCOIN will carry a Seed Tag.
MARSCOIN is a meme coin project based on BNB Chain. Binance previously supported trading in the token through Binance Alpha, and it will no longer be displayed there once spot trading begins. Existing Alpha account holders will be able to have their assets transferred automatically to spot accounts within 24 hours after the spot listing.
Spot Algo Orders will be supported as soon as spot trading opens, while Trading Bots and Spot Copy Trading are scheduled to be activated within 24 hours of the listing.
Tokens with a Seed Tag may be more volatile and riskier than regularly listed assets. Users must pass a quiz every 90 days to maintain trading access.
MARSCOIN jumped about 50% shortly after Binance announced the spot listing. Its market capitalization reached about $170 million, according to GMGN data.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.