80% Surge for This Cryptocurrency After Binance Listing (Hint: It’s Not PI)

The Brief Spike in XUSD

The cryptocurrency world saw a significant reaction this week following Binance’s announcement of the listing of StraitsX USD (XUSD) on March 19. This announcement triggered an impressive surge, with XUSD’s value skyrocketing by almost 80%, peaking at about $1.80. However, true to its nature as a stablecoin pegged 1:1 to the US dollar, XUSD quickly corrected and returned to its intended price of $1.

Binance’s statement highlighted the advantages of XUSD, which facilitates near-instant transactions and aims to bridge the gap between digital and traditional financial systems. The asset is promoted as a multifaceted tool for various applications, including cross-border remittances and decentralized finance (DeFi) ventures. To further enhance user engagement, Binance introduced a zero-fee trading promotion for the XUSD/USDT pair during the launch period, making it an attractive option for traders looking for efficiency and cost-effectiveness.

In its announcement, Binance described the asset’s infrastructure and utility: “The XUSD smart contract was developed to integrate digital and traditional financial ecosystems, leveraging the stability of the U.S. Dollar.” Binance emphasized that XUSD isn’t just a payment solution but is also poised for various financial operations across diverse market segments.

PI Network Stays in The Shadows

While Binance’s latest listing has generated buzz, it has also led to some disappointment among crypto enthusiasts who were hoping for the inclusion of Pi Network’s native token (PI) on the platform. Since its launch on February 20, during which it opened its network to the public, PI has been actively traded on several exchanges such as Bitget, OKX, and MEXC.

Despite the community’s eagerness—evidenced by an overwhelming 86% approval rate in a community vote on Binance regarding the inclusion of PI—the exchange has yet to provide an update about supporting the token. The anticipation remains high, as a listing on Binance could significantly boost PI’s liquidity and overall market visibility, potentially resulting in upward price movements. Currently, PI is trading at approximately $1.37, reflecting a notable 20% decline over the last two weeks.

The market is left waiting for Binance to clarify its position on PI, as traders and enthusiasts continue to monitor developments closely.

In summary, while XUSD’s brief spike illustrates the dynamic nature of market reactions to new listings, the longing for PI’s presence on Binance highlights ongoing speculation within the cryptocurrency community.