Cryptocurrency exchange Binance has made headlines again with its decision to list Dymension (DYM) for trading. The platform’s co-founder, Yi He, recently reassured the crypto community following the RONIN incident, garnering renewed trust in Binance. The addition of DYM to the exchange’s roster drew significant attention, signaling the company’s latest strategic move.
Trading DYM on Binance
Binance launched DYM on its platform, inciting notable market activity. Shortly thereafter, the exchange announced the integration of DYM into its margin and Futures trading suite. The move was further sweetened by the absence of a listing fee, which stood at 0 BNB for DYM.
The official statement from Binance detailed that DYM trading would commence with spot trading pairs including DYM/BTC, DYM/USDT, DYM/FDUSD, and DYM/TRY. The initiation of deposits was immediate, with withdrawal functionalities following a day later.
The Market Response to DYM’s Listing
The market has reacted positively to DYM’s presence on Binance, evidenced by a 31.5% price surge in the past 24 hours, reaching $5.25. The cryptocurrency’s market capitalization observed a 32% growth, attaining $770 million. Impressively, the trading volume since DYM’s inception on the exchange has already exceeded $400 million.
Investors and traders are now contemplating their next steps with DYM, as some share their substantial financial gains online. This uncertainty leads to a split in strategies, with some opting for immediate sales and others considering the potential of staking their holdings.