Binance, the world’s largest cryptocurrency exchange in terms of trading volume, made an important announcement concerning 6 altcoin investors. Accordingly, the exchange has decided to add new margin pairs for these cryptocurrencies. Binance’s October 14 announcement includes Biswap (BSW), Maker (MKR), Just (JST), Injective (INJ), MDEX (MDX), and Dodo Finance (DODO). Users will now have the advantage of performing cross-margin transactions on these cryptocurrencies.
Binance has announced these 6 altcoins
Binance exchange is constantly improving its user experience and presence in the crypto market. The leading cryptocurrency trading platform, which is on the agenda with frequent announcements, has made a new share. Accordingly, the exchange has activated cross-margin trading with INJ, MDX, JST, MKR, BSW and DODO. Users now have the advantage of cross-margin trading with these altcoin assets. For this, they need to access the margin trading section on Binance’s website.
Meanwhile, the exchange is making its newly added altcoin assets available for use with BUSD and USDT trading pairs. BUSD is the dollar-denominated stablecoin of the Binance ecosystem. Moreover cryptocoin.com As we reported, USDT is currently the largest dollar-indexed stablecoin in the cryptocurrency market. Users will be able to diversify their investments with the new cross-margin method.
Prices jumped with the announcement
Meanwhile, after the announcement of the Binance exchange, the price of cryptocurrencies increased. The price of 6 altcoin assets, which the stock market decided to support, started to rise today. Biswap (BSW) is up 7.67% in the last 24 hours, reaching a unit price of $0.24. Similarly, Just (JST) also rose. The altcoin gained 13.87% according to CMC data and hit $0.027. Injective (INJ) was the highest gainer. The coin rose 14.13% and started changing hands at $1.85.
Dodo Finance (DODO) also saw a 11.53% increase in value. Accordingly, the altcoin was trading at $0.12 at the time of writing. However, Maker (MKR), the last altcoin to which Binance added margin support, did not experience a big price change. The cryptocurrency registered 1.14% gains at the time of writing. Accordingly, the asset reached $ 918.
What is margin trading?
Margin trading means trading assets using funds provided by a third party. Compared to regular trading accounts, margin accounts allow traders to access more capital. It also allows them to take maximum advantage of their position. Margin trading basically strengthens trading results. Thus, investors get bigger profits on successful trades. This method is becoming more and more popular day by day due to its ability to expand trading results.
