Cryptocurrency exchange Binance announced new developments for its staked Solana (SOL) token, known as BNSOL, in an announcement made on October 10.
Binance recently announced new developments for its staked Solana (SOL) token, known as BNSOL, in an announcement on October 10. Binance has added BNSOL to its “Earn, Convert, and Margin” platforms, aiming to expand users' trading opportunities with these new integrations.
Announced by Binance on October 10, BNSOL will now be included in Binance's “Earn,” “Convert,” and “Margin” platforms. As of 11:00 UTC, flexible products and simple earning options will be offered for the BNSOL token, named “Simple Earn.” In the “Convert” section, users will be able to exchange the token with other cryptocurrencies like SOL, BTC, and USDT with zero transaction fees. These transactions will be active within an hour of the token's listing on the spot trading platform.
Binance also announced that it will launch cross and isolated margin trading for BNSOL at 11:00 UTC on October 14. With these new trading options, BNSOL will be available to trade in various pairs together with SOL. These developments strengthen Binance's support for the staked Solana token and the overall market optimism, indicating that the listing of BNSOL has created great excitement among market participants, especially as reported by CoinGape Media.
Binance also announced that it offers three different ways for its users to stake their SOL tokens. Users can easily stake their tokens by visiting the 'SOL pledge' section on Binance's 'financial management' page. Additionally, SOL can be staked and BNSOL can be purchased through the Binance Web3 wallet. At the time of writing, BNSOL is trading at $139.5, showing a loss of nearly 3% in the last 24 hours. Similarly, SOL has dropped to $139 with a 2.5% decrease.
Another significant development took place on the WOO X exchange, as announced by the platform. According to the official announcement, WOO X will launch the MOODENG/USDT trading pair at 16:00 on October 10. Additionally, the MUMU/USDT trading pair will be available at 16:00 on October 11, and the deposit channel for this transaction will be activated at 10:00 in the morning. These new trading pairs offered by WOO X are part of the exchange's strategy to diversify its trading options. Users will be able to manage their portfolios more flexibly by trading these USDT-based trading pairs.
In another announcement on October 10, crypto and derivatives trading platform CoinUp.io launched derivatives contract trading for three major tech giants: Apple (AAPL), Nvidia (NVDA), and Tesla (TSLA). This move is a significant step in CoinUp.io's diversification of trading products, aiming to provide global investors with more diverse investment opportunities. CoinUp.io has previously launched derivatives products for gold (XAU), silver (XAG), and the Nasdaq Index (NAS100). Now, users will be able to trade USDT-based contracts on derivatives based on stocks of major companies like Apple, Nvidia, and Tesla.
Finally, Coinbase International and Coinbase Advanced have launched perpetual contracts for the ARKM (Arkham) token. Limit, market, stop loss, and limit stop orders are now available to users.
