Binance has released a new “hot development” announcement that concerns many altcoin projects. This announcement includes margin options, boosts and Ethereum Merge.
Binance adds margin options to these altcoin projects
Binance, which holds the title of the world’s largest cryptocurrency exchange, released a new announcement on August 26. According to the announcement, the exchange has decided to add new margin options to its 3 altcoin projects. Cryptocurrency projects with margin options are recognized in the market. These projects are; Bella Protocol (BELLA), Wing Finance (WING), and Tellor (TRB). Accordingly, debt margin transactions with the aforementioned cryptocurrencies can be made in appropriate parities.
According to Binance’s announcement, these crypto projects will now have the advantage of cross-margin trading with USDT and BUSD stablecoins. Investors of altcoins will have access to the ability to use BELLA, WING and TRB pairs with both stablecoins. At the time of writing, BELLA is trading at $0.72, WING at $11.35 and TRB at $39.90. TRB is up 7.86% in the last 24 hours, while the other two altcoins have suffered minor losses.
Binance has decided to support the upgrade of this cryptocurrency
Leading cryptocurrency exchange Binance has decided to support the network upgrade of an altcoin project. This altcoin is called Klaytn (KLAY). The Klaytn network upgrade will take place on August 30, the expected date to hit block height of 99,841,497. Also, KLAY trading on Binance will continue uninterrupted during the upgrade. Finally, KLAY holders do not need to trade on the exchange during the upgrade. Binance will perform all these technical details without affecting users.
These processes will be suspended during the merge
Cryptocurrency exchange Binance decided to stop certain altcoin transactions in September. cryptocoin.com As we have reported, the transition of Ethereum and Beacon chain to PoS will take place in September. Accordingly, it will suspend deposits and withdrawals of Ethereum (ETH) and ERC-20 tokens during Merge. The stock market is making this move to provide stability during the Merge, which is expected to take place in mid-September. Binance took this move after Coinbase. Thus, it became the second major exchange to announce that it will suspend ETH deposits and withdrawals.
According to an announcement from Binance, the exchange is suspending timing with two major upgrades that will ease Ethereum’s transition from PoW to PoS. The exchange stated that a new token can be created during a hard fork. As such, he noted that trading may require steps to mitigate risks and ensure the safety of user funds. Binance will suspend deposits and withdrawals for ETH and ERC-20 tokens on September 6 during the Bellatrix consensus tier upgrade, and also on September 15, when the Paris execution tier upgrade is scheduled.
