As the crypto industry ushered in the new year with optimism and price surges, Binance, one of the leading cryptocurrency exchanges, announced plans to launch USDC-margined perpetual contracts for popular cryptocurrencies, including XRP and Solana (SOL). Originally scheduled for January 3, the launch faced a delay due to market volatility.
Key Highlights:
- Postponement Announcement: Binance announced the postponement of the launch of USDC-margined perpetual contracts for BTC, ETH, BNB, SOL, and XRP. The new launch date was set for January 4.
- Reasons for Delay: The delay was attributed to market volatility, which led to significant price drops across various cryptocurrencies. Binance aimed to ensure a smooth and pleasant trading experience for its users, prompting the decision to postpone the launch.
- Revised Launch Schedule: The USDC-margined BTC perpetual contract was slated to launch on January 4 at 12:30 UTC. Subsequently, the USDC-margined perpetual contracts for SOL, XRP, ETH, and BNB were scheduled to launch every five minutes after the initial launch.
- Market Conditions: While Bitcoin approached the $46,000 price mark and XRP and Solana experienced highs of $0.639 and $117, respectively, on January 2, a market reversal occurred. Bitcoin’s drop erased most of its recent gains, impacting other assets in the crypto market.
- Market Impact: XRP and Solana witnessed notable declines, with XRP falling as much as 11%, and Solana’s SOL experiencing a nearly 20% drop. Over the previous 24 hours, XRP and Solana registered declines of 9.63% and 8.93%, trading at $98.65 and $0.578, respectively.
As the crypto market continues to navigate through dynamic conditions, Binance’s decision to prioritize a stable and secure trading environment reflects the exchange’s commitment to providing a reliable platform for its users. Traders and investors in XRP and Solana will be closely monitoring market developments and the revised launch schedule for the USDC-margined perpetual contracts.