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Request to add PAXG/ETH trading pair on Binance

Binance

Cryptocoins Exchanges / Binance 108 Views

Hi Binance group!

I want to suggest including a new buying and selling pair: PAXG/ETH.

Why this pair is sensible:

  1. Hedging alternative: PAXG is a token backed 1:1 by physical gold, permitting ETH holders to preserve value in a secure asset with out changing to fiat.
  2. Direct access: At present, PAXG is just quoted in BTC (PAXG/BTC) on Binance. There isn't a pair the place PAXG is the quoted asset, so users who need to buy PAXG with ETH should first convert ETH → BTC → PAXG or ETH → USDT → PAXG, which is inconvenient and adds additional charges.
  3. Consumer demand: Many merchants need to convert ETH instantly into PAXG efficiently.
  4. Liquidity:
    • ETH has a 24h trading volume of over $45B.
    • PAXG has a 24h trading volume of round $41.6M.
  5. Benefits for Binance: Including PAXG/ETH would improve buying and selling activity, appeal to customers involved in gold-backed crypto, and probably generate more buying and selling fees for the trade.

I consider many users would recognize the power to trade PAXG immediately for ETH. In the event you help this, please upvote or remark to point out group curiosity.

Thanks in your attention!

submitted by /u/alex12biz
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