Binance Expands Margin Program and Updates Trading Pairs
Binance, the world’s largest cryptocurrency exchange, has recently made significant updates to its margin program and trading pairs, reflecting the evolving landscape of the digital asset market.
Margin Program Expansion
Binance has expanded its margin program by introducing new isolated and cross margin options. The exchange has added several new isolated margin pairs, including SHIB/FDUSD, DOT/FDUSD, WLD/FDUSD, LDO/FDUSD, NEAR/FDUSD, and TIA/FDUSD. Additionally, ADX/USDT and IQ/USDT have been included in the new cross margin section, providing traders with a wider range of options for leveraging their positions.
Spot Trading Pairs
Furthermore, Binance has enriched its spot trading choices by introducing new trading pairs such as CKB/TRY, COTI/TRY, LDO/TRY, and UNI/USDC. These additions particularly cater to the Turkish market, allowing local traders to engage more deeply in the cryptocurrency industry.
Market Dynamics in Turkey
The expansion of trading pairs focusing on the Turkish lira comes at a time when locals have shown a growing interest in digital assets. This trend may be attributed to the economic challenges faced by the country, including the devaluation of the national currency and instability in the domestic financial sector. Notably, Bitcoin (BTC) recently reached an all-time high price in Turkey, mirroring the impact of inflation on the local market.
Pair Delistings and Updates
While Binance has added new trading pairs, it has also announced the termination of certain currently-supported ones. Pairs such as ALPINE/EUR, GMT/BNB, LAZIO/EUR, POLS/BNB, and PORTO/EUR will no longer be available to users from March 1. The exchange has clarified that these delistings are part of its regular review process, which considers factors such as liquidity and trading volume.
Continual Adjustments
Binance’s recent updates are part of a series of adjustments made by the exchange. Earlier this month, it ceased services with Monero (XMR), Aragon (ANT), Multichain (MULTI), and Vai (VAI), leading to a price correction for the affected assets. Subsequently, Binance added ADA/USDC, AVAX/USDC, MATIC/USDC, and XRP/USDC as new cross-margin pairs, along with AC Milan Fan Token (ACM), FIO Protocol (FIO), and IQ (IQ) as new borrowable assets on cross and isolated margin.
These developments reflect Binance’s commitment to maintaining trading quality and volume, as well as responding to market dynamics and user demand.
📎 Source reference: cryptopotato.com