Altcoin
Binance Unveils Major Update for SHIB, ADA, FLOKI and HBAR, What’s Next?
Binance News: Binance Futures has announced a major update for popular USD-M perpetual contracts, including Shiba Inu (SHIB), Cardano (ADA), FLOKI and Hedera (HBAR). This update introduces new leverage and margin tiers, impacting top trading pairs and enhancing trading flexibility for users.
The changes, which apply to additional assets like BONK, PNUT, ACT, RENDER, HIPPO, GRASS, and REN, aim to support varied trading strategies. Notably, existing positions opened before the update will remain unaffected, allowing users to maintain their prior configurations.
Binance Announces SHIB, ADA, FLOKI and HBAR Contracts
On November 19, Binance exchange announced significant updates to the leverage and margin pairs for several USD-M perpetual contracts. These include SHIB/USDT, ADA/USDT, FLOKI/USDT, and SHIB/USDT pairs. These updates are designed to enhance market stability by adjusting leverage options across various position sizes, impacting both small and large traders.
For ADAUSDT contracts, positions under $10,000 will maintain leverage of 51-75x with a 0.50% maintenance margin rate. Positions between $10,000 and $50,000 will see leverage reduced from 41-50x to 26-40x, while the margin rate stays at 1.00%. Similar adjustments have been made to contracts like BONKUSDT and SHIBUSDT, affecting leverage and margin rates for various position sizes.
According to Binance, the world’s top crypto exchange, these updates aim to create a more balanced risk environment. Traders should review the updated leverage tiers to ensure they align with their positions.
Market Performance on the Crypto Tokens
SHIB price is trading at $0.00002551, up 4% after the Binance announcement. The 24-hour low and high are $0.00002415 and $0.00002562, respectively. Meanwhile, ADA is up 3% to $0.74 today, extending the weekly rally to 30%.
HBAR price has rallied 160% in a week to $0.14, with a 25% jump in the last 24 hours. Furthermore, the trading volume has increased by 125% in the last 24 hours, indicating a massive interest among traders. The latest move came in response to HBAR Foundation board member Brian Books’s naming among possible candidates for US SEC Chair.
FLOKI price climbed 1% in the last 24 hours, with the price currently trading at $0.0002532. The trading volume has dropped by 38% in the last 24 hours. The team announced a huge marketing campaign in India amid the recent Coinbase listing.
Coingape Staff
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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