Binance Exchange Makes Major Shiba Inu and Cardano Update, What’s Next For Asset’s Price

Binance has announced changes to the leverage and margin tiers of several assets on its futures platform. The changes will apply to USD-M perpetual contracts ranging from Cardano (ADA), Shiba Inu (SHIB), Hesera (HBAR), and Floki (FLOKI).

Centralized exchanges update their listings and service offerings to improve user participation and experience on their platform. As the exchange competition thickens, Binance seeks to extend its dominance to reach more users.

Binance Announces New Leverage Positions

The above four listed assets in USDT pairs will see updates to leveraged positions. These changes are usually made to ensure market stability and create a balance between small and large traders. Traders are advised to check the new changes and align necessary positions.

“Binance Futures has updated the leverage and margin tiers of ADAUSDT, 1000BONKUSDT, 1000SHIBUSDT, PNUTUSDT, 1000FLOKIUSDT, ACTUSDT, RENDERUSDT, PYTHUSDT, HBARUSDT, GRASSUSDT, HIPPOUSDT, and RENUSDT USDⓈ-M Perpetual Contracts at 2024-11-19 07:30 (UTC), as per the tables below. Please note that existing positions opened before the update will not be affected.

Traditionally, moves by Binance, the largest exchange in terms of trading volumes, swing community sentiments in most assets as whales and retail traders shake up holdings. Similarly, listings can also ignite price highs for the tokens in the market.

ADA/USDT contracts will see positions between $10,000 and $50,000 drop from 41-50x to 26x-40x. Meanwhile, positions under $10,000 will maintain present leverage. Crypto users have shared diverse views on the direction of this asset and the reaction needed.

What’s Next For The Assets?

As expected, a move concerning future positions and leverage will lead to slight asset movements. The ADA price dropped 1.1% today after days of surging inflows. Trading at $0.8, the asset’s market cap remains at $28.7 billion, while daily trading volumes fell 33%.

The case remains different with Shiba Inu as meme coins continue climbing uphill. Similarly, the lower price of these assets enables easy entry other than altcoins with large prices.

SHIB traded at $0.000024, posting slight gains to reduce previous weekly losses. Amid the slight rise in on-chain transactions, daily volumes recorded a 3% growth. Meme coins are surging across several categories, driving more enthusiasm among crypto holders.