The leading cryptocurrency exchange Binance has recently made several important announcements that will affect its users. In addition to offering new trading pairs, the platform has added COMBO as a new loanable asset on Cross Margin and Isolated Margin. In addition, Binance will support the upcoming MultiversX (EGLD) network upgrade, and Binance Futures will make adjustments to the leverage and margin tiers of USDⓈ-M MTLUSDT perpetual futures contracts. Here are the details…
Binance expands trading options for these cryptocurrencies
Continuing to offer a variety of trading opportunities to users, Binance has added COMBO as a new borrowable asset on both Cross Margin and isolated margin. This expansion signals investors to further diversify their portfolios. It also enables them to explore additional investment opportunities. Also, Binance is launching new trading pairs on Cross Margin, including COMBO/USDT, SUI/TUSD, and TUSD/BUSD. These additions give traders greater flexibility and more choice when engaging in margin trading.
Exchange will support MultiversX (EGLD) upgrade
On the other hand, Binance will support an important network update tomorrow, on June 8, 2023. It has announced that it supports MultiversX network upgrade, which is expected to take place at around 18:47 CEST tomorrow. cryptocoin.com As we have also reported, EGLD is among the popular altcoins. During this upgrade, EGLD deposits and withdrawals will be temporarily suspended from 18:00 CEST on the same day. However, EGLD trading will not be affected. Because Binance will manage all the technical requirements for users holding EGLD in their Binance accounts. Once the upgraded network is deemed stable, Binance will reopen deposits and withdrawals for EGLD without further notice to users.
Exchange issues MTLUSDT perpetual futures contracts
Binance Futures has made changes to the leverage and margin tiers of USDⓈ-M MTLUSDT. Traders with existing positions opened prior to the update were warned that their positions would be affected. To avoid potential liquidation, users are strongly advised to adjust their positions and leverage before adjusting. Binance Futures also underlined that additional protective measures can be taken, such as changing the maximum leverage, position value and maintenance margin, or updating the funding rates and price index components.
Binance continues to expand its services and provide a safe trading environment for its users. The addition of COMBO as a borrowable asset on cross and isolated margin, along with the introduction of new trading pairs, increases trading options for Binance users. Support for MultiversX (EGLD) network upgrade underlines the exchange’s network support.
