Important update from Binance on Cardano (ADA) and other altcoin traders: details

TL;DR

Binance will delist several trading pairs (such as ADA/TUSD and AEVO/BNB) and stop spot trading bot services for them on August 2nd. It also added new trading pairs like CKB/USDC and EOS/USDC to its margin trading options, improving them. diversification and flexibility for users. Removal efforts

The world’s largest cryptocurrency exchange will remove and stop trading of several pairs according to its latest reviews. The exact pairs that will no longer be available on the platform from August 2 are ADA/TUSD, AEVO/BNB, AST/BTC and MANTA/BNB.

The company will also stop the services of Spot Trading Bots in the aforementioned on the same date. “Users are advised to upgrade and/or cancel their Spot Trading Bots prior to the termination of Spot Trading Bots services to avoid possible losses,” the announcement said.

Cardano (ADA) and the rest of the assets affected in the delisting effort are in the red today (July 31). However, its poor performance could probably be the result of the overall market decline witnessed in the last 24 hours. Bitcoin (BTC) has recently fallen below $66,000, while Ethereum (ETH) is struggling around $3,300.

A bigger price drop is usually seen when Binance ends all trading services with a certain cryptocurrency. Such was the case with the popular privacy coin Monero (XMR), whose valuation plummeted by double digits after the exchange pulled its support.

Earlier this month, Binance delisted BarnBridge (BOND), Dock (DOCK), Mdex (MDX) and Polkastarter (POLS). Somewhat expected, altcoins witnessed a substantial price drop, with DOCK collapsing roughly 50% on a daily basis.

The opposite movement

In addition to stopping services with existing trading pairs due to low liquidity and other reasons, Binance often introduces new ones to its users.

He revealed that CKB/USDC, IO/USDC, EOS/USDC, LDO/USDC, JTO/USDC, OMNI/USDC, MANTA/USDC, STX/USDC and PIXEL/USDC are now available in the cross margin and isolated margin sections . .

“Binance Margin strives to improve users’ trading experience by continuously reviewing and expanding the list of trading options offered on the platform, allowing greater diversification of user portfolios and flexibility with trading strategies” , the company said.

Margin trading allows clients to access borrowed funds for use in leveraged trades. To do this, users must provide collateral that can be in the form of cryptocurrencies.

In the case of isolated margin, each trading pair has a separate margin account and the risk is isolated to that specific pair. On the other hand, cross-margining means that all marginable assets are shared in one account. This option provides more flexibility, but is also associated with higher liquidation risk.

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