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Sunday, July 14, 2024

Important Binance Updates Concerning Numerous Altcoin Traders

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  • Binance expanded its margin program with new isolated and cross margin options.
  • The exchange is also removing certain pairs due to low performance, as part of its regular updates and reviews to maintain trading quality and volume.

The world’s largest cryptocurrency exchange increased the number of trading pairs offered on its margin program. SHIB/FDUSD, DOT/FDUSD, WLD/FDUSD, LDO/FDUSD, NEAR/FDUSD, and TIA/FDUSD were added as new isolated margin pairs, while ADX/USDT and IQ/USDT entered the new cross margin section.

Additionally, the list of trading choices on Binance Spot witnessed the addition of the following pairs: CKB/TRY, COTI/TRY, LDO/TRY, and UNI/USDC. The majority of those focus on the Turkish lira, allowing Turks to dive deeper into the cryptocurrency industry.

Locals have shown a great appetite for digital assets in the past few years, possibly due to the collapse of their national currency and the troubling condition of the domestic financial sector.

As CryptoPotato recently reported, Bitcoin (BTC) reached an all-time high price in the Asian country (among other nations), following galloping inflation.

Besides adding more trading pairs, Binance announced it will terminate some currently-supported ones. ALPINE/EUR, GMT/BNB, LAZIO/EUR, POLS/BNB, and PORTO/EUR will no longer be available to users from March 1.

The company did not provide an exact reason for the move, reminding that it conducts “periodic reviews” and delists pairs due to numerous factors, such as poor liquidity and trading volume.

Binance has made multiple similar updates since the beginning of the year. Earlier this month, it halted services with Monero (XMR), Aragon (ANT), Multichain (MULTI), and Vai (VAI), which triggered a price correction for the affected assets.

Days later, the firm added ADA/USDC, AVAX/USDC, MATIC/USDC, and XRP/USDC as new cross-margin pairs and AC Milan Fan Token (ACM), FIO Protocol (FIO), and IQ (IQ) as new borrowable assets on cross and isolated margin.

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