Important update from Binance on Solana (SOL) and other altcoin traders: details

TL;DR

Binance introduced more monthly options along with new trading pairs for margin trading. It recently launched an official WhatsApp channel for updates while warning users about potential scams. Expansion of the list of offers

The world’s largest crypto exchange said it will launch SOL/USDT and BNB/USDT monthly options starting November 26. These European-style contracts allow traders to speculate on the future price of certain digital assets against Tether (USDT) with a fixed monthly expiration date. .

Additional support from a leading platform like Binance usually positively affects the prices of the cryptocurrencies involved. Solana (SOL) and Binance Coin (BNB) had posted some mild gains in the past 24 hours, but then pulled back alongside the rest of the market.

In addition to introducing the aforementioned options, the exchange added new trading pairs to its margin program. Included in the cross margin and isolated margin sections are CATI/USDC, FDUSD/USDC, HBAR/USDC, OM/USDC, RAY/USDC and TAO/USDC.

“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.

Binance extends to WhatsApp

Updates around the company are fairly frequent and don’t always focus on listing or recall efforts.

Last week, for example, Binance launched an official channel on messaging app WhatsApp as part of its mission to “make crypto more accessible.” There, users will receive recent news, product developments, event announcements, and educational content about blockchain technology, cryptocurrencies, and Web3.

“For your safety, please note that this is the only official Binance channel on WhatsApp. We recommend users to follow only official Binance channels to avoid unauthorized sources or possible scams. Our Telegram and Discord channels will follow available, offering multiple options to stay connected with Binance,” the company added.

Among the people who gave their two cents to the effort was the exchange’s CEO, Richard Teng. While he maintained that the WhatsApp channel will help users “stay informed with trusted news, alerts and updates straight from us,” he warned customers to pay more attention to potential scams:

“Remember that Binance will never add you to groups or ask for your account details via messages.”

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