Binance is a leading cryptocurrency exchange. Now, 2 years have passed since Binance has been involved in the market. As Changpeng and his team celebrate, many updates are being announced.
Today, margin trading was made available for all users, the release was mentioned in a blog post. “We are providing a new tool in the financial services and cryptocurrency markets to help amplify trading results of successful trades,” says Changpeng Zhao, the CEO of Binance.
The market is volatile almost always, which makes margin trading a risky venture in comparison to traditional trading on Binance. Leveraging positions can help traders obtain loans from the exchange.
However, this makes profit a much sweeter deal, if timed correctly. The disclaimer on the blog post reads, “…margin trading is highly subjected to market risk, volatility, and complexity. It is a sophisticated product and you are highly advised to exercise prudence and caution…”
Now institutional traders may take notice and flock to Binance. The other leading exchanges include OKEx and Bitstamp. With this release, competitors will soon start testing their own versions for margin trading so as to help the customer base grow.
A month ago, Binance trading began within the shores of India. The latter country is known for its anti-crypto bill which promotes a blanket ban alongside a massive jail-term for those who engage in cryptocurrencies.
Binance has stepped into the world of derivatives, regulated spot, unregulated spot, and decentralized exchanges. This is a huge milestone.
Amongst all the top altcoins, Binance had the lowest losses in the market. The price of BNB went down by 5.83% in the course of the past 24-hours. The trading volume recorded is $285.189 million according to the latest data on coinmarketcap.
The total market cap for Binance is $4.260 billion. The circulating supply involves 141,175,490 BNB tokens in play. The altcoin will start improving by the end of the day or tomorrow.