Binance has announced trading support for Starknet (STRK), with spot trading for the native token of the Ethereum layer-2 platform going live on February 20, 2024 and 13:00 UTC. Starknets STRK distribution opens at 12:00 UTC.

According to Binance, trading support for STRK will offer four initial spot pairs STRK/BTC, STRK/USDT, STRK/FDUSD and STRK/TRY. The exchange will also apply the seed tag to the Starknet token, implying the new trading pairs are relatively volatile as trading commences amid the high airdrop anticipation across the community.

Meanwhile, Binance will also support Starknets airdrop distribution, offering this service to its ETH staking customers.

As a ZK-Rollup L2 network, Starkent allows for massive scaling for decentralized applications (dApps) on Ethereum, all without compromising on the security. STRK is the Starknet ecosystems governance token and will also be used in the payment of transaction fees and for network validators.

Last week, the Starknet Foundation announced the first phase of STRK token distribution targeting eligible users will commence on February 20.

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As Invezz highlighted, the airdrop distribution will see over 1.3 million wallet addresses receive 700 million STRK tokens. Eligible users set to benefit from the airdrop include Starknet users (who will receive 50% of the airdrop), Ethereum stakers, Starknet developers, EIP authors, and Protocol guild members.

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Starknets Provisions Program has allocated a total of 1.8 billion STRK tokens to the airdrop and the team is looking to introduce new programs and opportunities for those likely to miss the first phase.

The opportunities will be made available shortly the Starknet Foundation posted on X as it reminded its community of the STRK Provisions launch at 12pm UTC on February 20.

Other crypto exchanges, including Bitfinex, OKX, Bitget, MEXC, KuCoin, HTX, Bybit, and BitMEX, have also announced trading support for STRK.

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Binance to list Starknet (STRK), support airdrop distribution - Invezz

Binance has announced a planned delisting of several leveraged token services linked to Bitcoin, Ethereum and BNB.

In the February 19 announcement to its user community, the crypto exchange noted that trading and subscription support for the Binance Leveraged Tokens (BLVTs) BTCUP, BTCDOWN, ETHUP, ETHDOWN, BNBUP and BNBDOWN will be halted on February 28, 2024 at 06:00 UTC.

While users will have until April 3, 2024 to redeem any BLVTs, Binance has urged customers to trade BLVTs for other tokens prior to the scheduled trading cessation time. Notably the exchange plans to delist and stop redemptions for the above BLVTs on April 3, 2024.

If users are still holding the aforementioned BLVTs after the respective delisting time, Binance will convert these BLVTs to USDT based on the corresponding net asset value (NAV) at the time of delisting, and will distribute the USDT tokens to users accounts within 24 hours of delisting. After the distribution is completed, the aforementioned BLVTs will be removed from users wallets, the exchange noted.

Leveraged tokens are perpetual contract positions that give users leveraged exposure to underlying tokens. These derivative products offer access to short-term trading opportunities and are rebalanced daily. With BLVTs, traders can get exposure to a basket of contracts or leveraged positions without having to put up collateral or face the threat of liquidation.

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Binances announcement comes as the prices of Bitcoin and Ethereum hovered above key levels on Monday. BTC traded to intraday highs of $52,470 and ETH reached $2,930 as fresh impetus buoyed markets.

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ETH is up nearly 14% in the past week, while Bitcoin has shed some of the weekly gains after hitting highs near $53,000 last week. The flagship cryptocurrency is up about 5% in the past seven days

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Binance to cease support for multiple leveraged tokens - Invezz