Binance exchange new TUSD/DOGE trading pair could be a bullish catalyst for Dogecoin price


  • Binance exchange has introduced a new trading partner for Dogecoin, TUSD/DOGE, alongside zero maker fees bonus for the trading pair.
  • This encourages more trading of DOGE on the exchange, which already accounts for more than 20% of meme coin’s trading volume.
  • With a growing trading volume for DOGE, Dogecoin price is expected to rise.

Binance exchange said in a Thursday announcement that it would be launching a new trading partner for Dogecoin (DOGE). In the latest development, the largest exchange by trading volume revealed TrueUSD (TUSD), thus the TUSD/DOGE trading pair.

Binance exchange boosts TUSD after BUSD switch

The move comes after Binance switched its zero-fee Bitcoin trading pair from Binance USD (BUSD) to TUSD. This came the Securities and Exchange Commission (SEC) sent a Wells Notice to Paxos, barring it from issuing BUSD stablecoin. The action caused a massive decline in the BUSD market cap as holders sprinted to redeem their BUSD.

Related: Is Binance CEO Changpeng Zhao picking winners and losers in stablecoins like BUSD, TUSD?

The growth and popularity witnessed in the TUSD stablecoin comes in the wake of Binance transitioning from BUSD. With the latest move, the giant exchange has underscored its support for TrueUSD, making it the latest pair for the biggest meme coin, DOGE. Notably, Dogecoin price has benefitted from this development, rising almost 1% in the last 24 hours.

As a bonus, Binance has also offered zero maker fees for the TUSD/DOGE trading pair, enabling “Binance Spot Grid for the meme coin within 48 hours after trading commences.”

Further, the leading exchange also revealed two additional trading pairs- WBTC/USDT and USDT/ARS.

How TUSD/DOGE trading pair could catalyze Dogecoin price

Binance exchange’s TUSD/DOGE trading pair and its associated bonus could be a bullish catalyst for Dogecoin price as it allows users to trade with zero maker fees. This will encourage the trading of Dogecoin on the giant exchange, which already accounts for more than 20% of the meme coin’s total trading volume.

Growth in trading volume following this listing could cause an uptick in Dogecoin price. A sustained bullish pressure momentum could ship Dogecoin price to the level above $0.1 coming out of the weekend or early May.

Also Read: Dogecoin price rallying by 10% will have this effect on 20 billion DOGE


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Crypto Today: Bitcoin is less than 10% away from all-time high as Ethereum ETF approval anticipation brews

Crypto Today: Bitcoin is less than 10% away from all-time high as Ethereum ETF approval anticipation brews

Bitcoin trades around $68,000 early on Monday, less than 10% away from its all-time high of $73,777 on Binance. Ethereum ETF anticipation brews among traders and Ether investment products see inflow of over $45 million in the past week. 

More Cryptocurrencies News

Ripple lawsuit settlement likely soon, says Brad Garlinghouse, XRP hovers around $0.60

Ripple lawsuit settlement likely soon, says Brad Garlinghouse, XRP hovers around $0.60

Ripple (XRP) trades around a key psychological level of $0.60, early on Monday. The altcoin recently made headlines for its highest weekly gain of 2024, over 40%. XRP sustained nearly 21% of the gains from the last seven days. 

More Ripple News

Solana could cross $200 if these three conditions are met

Solana could cross $200 if these three conditions are met

Solana’s total value locked climbs 18% in July to $5.38 billion, as seen on DeFiLlama. Solana sustains over 20% gains in the past seven days, corrects nearly 3% on Monday. Active addresses and new address count in the Solana network have increased throughout July.

More Solana News

ALT, WLD, ENA, ID set for $200 million token unlocks next week

ALT, WLD, ENA, ID set for $200 million token unlocks next week

The crypto market is set to experience another wave of token unlocks next week, with Altlayer (ALT), Worldcoin (WLD), Ethena (ENA), and Space ID (ID) set for a combined token unlock worth about $200 million.

More Cryptocurrencies News

Bitcoin: Will BTC continue its bullish momentum?

Bitcoin: Will BTC continue its bullish momentum?

Bitcoin (BTC) price increased by 5.5% this week until Friday after breaking above a descending trendline. Currently, it is trading slightly higher by 0.23% at $64,166.

Read full analysis

BTC

ETH

XRP