Important Binance Announcement Affecting Some Altcoin Investors: Details
TL;DR
- binance will improve its futures trading platform and introduce new perpetual contracts with highly leveraged options.
- Despite these additions, the cryptocurrencies in question are facing declines in an overall falling market.
The world’s largest cryptocurrency exchange will expand the list of trading options offered on Binance Futures to improve users’ experience. It will lunch ARB/USDC and Neo/USDC will have perpetual contracts with up to 50x leverage, while FIL/USDC will allow up to 75x leverage. Three options will be available to investors starting April 18.
Binance warned that it may adjust the features of future options, including funding fee, confirmation size, maximum leverage and initial margin, “based on token risk conditions.”
The company will also enable multi-asset mode on these perpetual contracts, allowing customers to use cryptocurrencies such as Bitcoin (BTC) as margin.
Despite additional support for arbitrum, NEO, and Filecoin, the affected assets remain in the red zone amid a severe market decline. ARB was down 8% on the day, NEO retreated 13%, while FIL lost around 6% of its valuation.
Binance’s Previous Changes
The company has made a number of similar changes and updates to its platform over the past few months. Popular privacy coin Monero (XMR) and three other altcoins – aragon (ANT), Multichain (MULTI) and Vai (VAI) were delisted in March. On the other hand, Additional filecoin (FIL), near Protocol (NEAR), Stellar (XLM), EOS (eos), injective (INJ), and Alien Worlds (TLM) as new loanable assets on Binance Credits.
Stock market at the beginning of this month opened Trading and Spot Algo Orders Trading Bots services have been activated for the USDT/MXN pair.
Shortly after, he including 18 new loanable assets such as Dogwifhat (WIF) and pepe (PEPE), Hedera (HBAR), IOTA (IOTA) and celestia (TIA) were added to Binance Credits, while Saga (SAGA) and Tensor (TNSR) were also added to Binance Credits. VIP Credit section.
SPECIAL OFFER (Sponsored)
LIMITED OFFER 2024 for CryptoPotato readers on Bybit: Use this link to sign up for Bybit Exchange for free and open a $500 BTC-USDT position!
#Important #Binance #Announcement #Affecting #Altcoin #Investors #Details