Binance News: Major Updates, Cardano Sell-Off, and XUSD Listing

Binance, one of the largest cryptocurrency exchanges, has made several significant announcements recently, impacting the market in various ways. From listing a new stablecoin to the sell-off of Cardano (ADA) by large investors, here’s a summary of the key developments.

Binance Updates and Cardano Sell-Off

Binance has added XUSD, introduced BMT/USDT and MUBARAK/USDT perpetual contracts, and announced the removal of several margin trading pairs. Large investors have offloaded over $70M in ADA, increasing selling pressure. However, a spot ADA ETF approval could potentially reverse the trend. Binance also revealed that it will list the stablecoin StraitsX USD (XUSD) on March 19, which experienced a major rally shortly after the disclosure.

Binance Coin (BNB) Price Prediction for March 18

In the last 24 hours, the price of BNB surged toward $640 under strong buying pressure. Buyers aim for a breakout as the price heads toward breaking above immediate resistance. Trading volume surged by 9.14% to $2.25 billion. Despite facing increasing downward volatility since February 3, BNB is now recovering with a bullish rally. market cap dropped by 0.41% to $90.6 billion. The price climb is driven by rising buying sentiment in the crypto market, eased geopolitical tensions, decreasing inflation rates, and investment in Binance.