The world’s largest cryptocurrency exchange, Binance, has announced a major update for its users. Binance revealed that it is expanding trading support for eight altcoins, including Artificial Superintelligence Alliance Price Chart (FET), Radiant Capital (RDNT), Floki (FLOKI), Aave (AAVE), LayerZero (ZRO), Sun (SUN), Bittensor (TAO), and VIDT Dao (VIDT). This move could have a significant impact on the market and potentially boost the prices of these tokens.
Binance Increases Leverage and Margin for Key Altcoins
As part of this update, Binance has revised the leverage and margin levels for several trading pairs, including FETUSDT, RDNTUSDT, 1000FLOKIUSDT, AAVEUSDT, ZROUSDT, SUNUSDT, TAOUSDT, and VIDTUSDT futures. The exchange provided detailed information about these updates, stating that the changes in leverage and margin for these eight altcoins are aligned.
Investors can now utilize higher leverage on FET, RDNT, FLOKI, AAVE, ZRO, and TAO, compared to the previous maximum of 75x. The leverage on SUN and VIDT remains unchanged at 75x. However, for all eight altcoins, the updates also include an increase in the nominal value of positions based on the leverage ratio. The maintenance margin rate for positions with leverage between 51x and 75x has been updated to 1%.
Updates for APT, ADA, and Other Futures Pairs
In addition to these updates, Binance has also made significant changes to other futures pairs. On September 11, 2024, Binance adjusted the leverage and margin levels for popular pairs such as APT/USDT, ENA/USDT, ADA/USDT, LTC/USDT, FTM/USDT, TRX/USDT, and GALA/USDT. This adjustment provides more trading opportunities, particularly for investors utilizing high leverage. However, Binance clarified that the changes will only affect newly opened positions, leaving existing ones unaffected.
While these updates offer larger trading opportunities, Binance also reminded investors of the importance of risk management. The use of high leverage can lead to significant gains but also increases the potential for substantial losses, emphasizing the need for careful strategy execution.
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Binance Delists Several Spot Trading Pairs
Binance regularly reviews its spot trading pairs to ensure a quality trading environment. As part of this review process, Binance will delist several pairs on September 13, 2024, including BAND/TRY, LSK/ETH, NTRN/BTC, and PROM/BTC. These delistings are based on factors such as low liquidity and trading volume.
The delisting of these pairs will not affect the availability of the underlying tokens on Binance’s spot exchange. Users will still be able to trade these tokens through other pairs on the platform. These routine reviews help Binance maintain a healthy trading environment with adequate liquidity.
Expert Warning: Avoid These 3 Altcoins for Now
Following the delisting announcement, experts have advised investors to approach three altcoins with caution due to their current market conditions. Regular reviews like this ensure that the platform operates smoothly and that users can trade in a liquid, efficient marketplace.
At The Bit Journal, we continue to monitor these changes and provide updates to help investors make informed decisions in the volatile crypto market.
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
