Attention XRP and Solana (SOL) Holders: Important Information

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Traders and holders of well-known cryptocurrencies XRP and Solana (SOL) should take note of crucial information shared by leading crypto exchange Binance.

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In a recent announcement, Binance revealed its plan to introduce USDC-margined perpetual contracts for BTC, ETH, BNB, SOL, and XRP. The expected launch date for these contracts is set for January 3, following the close of 2023.

Binance Postpones USDC-Margined Perpetual Contracts Launch

In response to the recent market volatility, which resulted in significant cryptocurrency price drops, Binance Futures has decided to postpone the launch of USDC-margined perpetual contracts. The new scheduled launch date is now Jan. 4.

Binance explained that the delay in the trading start time for USDC-margined BTC, ETH, BNB, SOL, and XRP perpetual contracts is attributed to market volatility. The aim is to ensure a smooth and enjoyable trading experience for users.

On Jan. 4, Binance plans to kick off the USDC-margined BTC perpetual contract at 12:30 UTC, followed by the launch of USDC-margined perpetual contracts for SOL, XRP, ETH, and BNB every five minutes thereafter. Despite the delay, the crypto industry has started 2024 on a positive note, with Bitcoin approaching the $46,000 price mark.

XRP and Solana have also experienced promising starts to the year, reaching highs of $0.639 and $117, respectively, on Jan. 2.

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Bearish Turn for Cryptocurrencies: Bitcoin, XRP, and Solana Face Market Slump

The crypto market witnessed a significant shift as bears exerted pressure, particularly impacting Bitcoin. On Wednesday, Bitcoin experienced a notable drop, erasing almost all the gains it had accumulated in the initial days of the new year. This downturn marked a deviation from its earlier upward trend that had surpassed a broader decline seen in traditional assets worldwide.

The negative sentiment extended to other assets, aligning with Bitcoin’s struggles. Interestingly, this market turbulence coincided with the 15th anniversary of Bitcoin’s first block mining on Jan. 3, 2009.

Specifically, on Wednesday, XRP saw a substantial decline of up to 11%, while Solana’s SOL plummeted nearly 20%. Over the preceding 24 hours, both XRP and Solana experienced declines of 9.63% and 8.93%, settling at $98.65 and $0.578, respectively. The bearish trend has raised concerns and intensified market volatility in the crypto space.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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