- Binance introduced significant updates for XRP and Solana (SOL) traders and holders in 2024.
- The launch of USDC-margined perpetual contracts, initially set for Jan. 3, was postponed due to unexpected market volatility.
- Binance rescheduled the launch to Jan. 4 for BTC, ETH, BNB, SOL, and XRP, aiming for a smooth trading experience.
As the crypto industry welcomed 2024 with optimism, Binance, one of the leading cryptocurrency exchanges, brought forth significant updates for traders and holders of XRP and Solana (SOL).
However, an unexpected twist in the form of market volatility prompted Binance to postpone the launch of USDC-margined perpetual contracts initially scheduled for Jan. 3.
Binance’s Announcement and Revised Launch Schedule
Binance had previously announced its plans to introduce USDC-margined perpetual contracts for BTC, ETH, BNB, SOL, and XRP. The original launch date of Jan. 3 faced a delay, with Binance Futures rescheduling it to Jan. 4.
The decision was attributed to the recent market upheavals and aimed at ensuring a smooth and favorable trading experience for users.
According to the revised schedule, Binance initiated the launch with the USDC-margined BTC perpetual contract on Jan. 4 at 12:30 UTC. Subsequent contracts for SOL, XRP, ETH, and BNB followed at five-minute intervals.
Crypto Market Performance Of XRP and SOL
As the crypto market embarked on the new year, Bitcoin approached the $46,000 price threshold, setting an optimistic tone. XRP and Solana also witnessed positive starts, achieving highs of $0.639 and $117, respectively, on Jan. 2. However, the bullish sentiment was short-lived.
The market dynamics swiftly shifted as bears took control. Bitcoin faced a significant drop, erasing most of its early-year gains and interrupting a robust surge that had outpaced traditional assets.
On Jan. 3, which marked the 15th anniversary of Bitcoin’s first block, XRP and Solana experienced notable declines, with XRP dropping by 11%, and Solana’s SOL plummeting by nearly 20%.
As of the latest data, both XRP and Solana continue to grapple with the aftermath of the market correction. In the previous 24 hours, XRP and Solana have exhibited single-digit losses.
