Binance on Tuesday said it is listing a new W token by Wormhole, an interoperability platform powering multichain applications and bridges.
The announcement from the cryptocurrency exchange enthused the crypto community; however, the listed token has a seed identifier.
Additionally, BitMart, OKX, MEXC, HTX, KuCoin, Gate, Bitget, WOO X, and AscendEX have all declared their intention to list the W token.
On April 2, cryptocurrency exchange Binance made an official announcement revealing the listing of Wormhole’s W tokens with the seed tag attached. Four spot pairs will support trading on the W token: W/BTC, W/USDT, W/FDUSD, and W/TRY.
For the time being, users may commence depositing Wormhole’s W token. Additionally, the token will be traded beginning at noon UTC on April 3, and withdrawals for Wormhole will commence at the same time on April 4.
The seed designation on Binance’s listing of Wormhole’s W token signifies innovative projects that may exhibit greater volatility and risk than other listed crypto tokens.
“W is a relatively new token that poses a higher than normal risk, and as such will likely be subject to high price volatility. Please ensure that you exercise sufficient risk management, have done your own research in regards to W’s fundamentals, and fully understand the project before opting to trade the token,” the announcement states.
Listing of Binance Ethena (ENA)
Additionally, Binance disclosed the addition of Ethena (ENA) to its portfolio of products and services. Binance Auto-Invest, Binance Convert, Binance Margin, and Binance Futures are all enhanced with ENA. On Binance Convert, users may exchange ENA for BTC, USDT, and any other token at no cost.
The ENA price opens 11% lower in response to the selloff on the cryptocurrency market. At the moment, the price is $0.615. Nonetheless, trading volumes over $800 million demonstrate the coin’s immense demand.
