Important Binance Listing Update for solana (SOL) Users
TL;DR
- binance has added six new pairs to margin trading to offer greater flexibility.
- This move coincided with a 5% decline in the price of Solana (SOL) amid a broader market correction.
The world’s largest cryptocurrency exchange – Binance – announced Addition of six new trading pairs. SOL/USDC, ARB/FDUSD and DOCK/USDT are included as cross margin pairs, while SOL/USDC, ARB/FDUSD and OP/FDUSD are included as isolated margin pairs.
Margin trading allows users to access loaned funds for use in leveraged transactions.
Placing a cryptocurrency in said program may trigger increased volatility by increasing its liquidity and trading volume.
Solana (SOL) is the only token among the above that has witnessed significant price fluctuations, its price falling by 5% in the last 24 hours. However, this may be a result of today’s (January 12) overall market correction.
This isn’t the first move Binance has made since the beginning of 2024. placed Monero (XMR), zcash (ZEC) and other cryptocurrencies are on the Tracking Tag list, where they will be subject to regular reviews. Failure to comply with the required criteria may result in removal from the list.
Binance at the beginning of this week swore To lift nine spot trading pairs, including LTC/UAH, FLOKI/TUSD, COS/BNB, coti/BNB, MULTI/BTC and others. The termination of services with these couples took effect January 12.
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