Today, Binance, one of the leading cryptocurrency exchanges, announced the listing of Magic Eden (ME), enhancing its trading platform with multiple new spot trading pairs.
The trading pairs, which include ME/BTC, ME/USDT, ME/FDUSD, and ME/TRY, will be open for trading starting from 3 PM UTC on the listing date.
In anticipation of active trading, Binance has enabled users to deposit Magic Eden (ME) tokens effective immediately to prepare for the market activity. However, withdrawals will commence 24 hours after trading begins, at 3 PM UTC on December 11, 2024.
Notably, the listing fee for Magic Eden has been set at zero BNB, making it accessible for a broader range of traders.
Understanding Seed Tags
A key aspect of Magic Eden’s listing is the application of a ‘seed tag.’ This designation is reserved for innovative and potentially volatile projects like ME. Binance has introduced seed tags to inform traders about the heightened risks associated with new tokens.
Traders looking to engage with seed-tagged tokens must pass specific quizzes every 90 days, available on Binance Spot and Binance Margin platforms. This educational initiative aims to ensure that traders know the risks before trading.