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Timestabloid

02/23/2024

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Binance Has Major Announcement For Cardano (ADA) and XRP Holders

Crypto giant Binance has expanded its margin trading options. The exchange brought four new cross-margin pairs and six new isolated margin pairs, including familiar coins like XRP and Cardano (ADA). The update introduced new ways to trade with ADA, AVAX, MATIC, and XRP using margin, potentially amplifying gains (or losses) for experienced users. Additionally, six […]

Binance Has Major Announcement For Cardano (ADA) and XRP Holders

Crypto giant Binance has expanded its margin trading options. The exchange brought four new cross-margin pairs and six new isolated margin pairs, including familiar coins like XRP and Cardano (ADA).

The update introduced new ways to trade with ADA, AVAX, MATIC, and XRP using margin, potentially amplifying gains (or losses) for experienced users. Additionally, six other altcoins, including AC Milan Fan Token (ACM), FIO Protocol (FIO), and IQ (IQ), were added to the list of borrowable assets.

Read Also: Binance Officially Implements 1.2% LUNC Tax Burn on Spot and Margin Trades: Details

According to the exchange, the new cross-margin pairs include ADA/USDC, AVAX/USDC, MATIC/USDC, and XRP/USDC. As for the isolated margin pairs, the exchange added ACM/USDT, AVAX/USDC, FIO/USDT, IQ/USDT, NEXO/USDT, and QKC/USDT.

In the announcement, the trading platform wrote, “Binance Margin strives to enhance user trading experience by continuously reviewing and expanding the list of trading choices offered on the platform, allowing for greater diversification of user portfolios and flexibility with trading strategies.”

Despite the potential excitement, prices of the involved altcoins barely budged. Unlike the usual frenzy associated with new listings, these established tokens on Binance saw minimal movement, leaving some traders and investors to wonder.

Possible Reasons for the Calm

Several factors could explain the muted response. First, most of these tokens were already tradable on Binance, so the “new listing” appeal might be missing. Second, margin trading caters to a specific group of experienced investors, not necessarily reflecting the broader market sentiment.

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Read Also: Here’s Latest from Binance Regarding the Implementation of Terra Classic (LUNC) 1.2% Tax Burn Proposal

Binance: A Moving Target

This expansion is just another chapter in Binance’s dynamic approach to listings and delistings. Earlier this year, the exchange delisted coins like Monero (XMR) and Aragon (ANT), showcasing their flexibility. Additionally, the upcoming delisting of leveraged tokens like BNBUP/USDT suggests a focus on responsible trading practices.

While the initial price impact appears minimal, the crypto market is a wild beast. Long-term effects could emerge as trading activity and community sentiment evolve.

This article is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions.


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Adedoyin Aka

Adedoyin Aka

Adedoyin is a graduate of Law and a Crypto & Blockchain expert who strongly believes that Blockchain is the future. At TimesTabloid, she focuses on crypto and blockchain educational content.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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