Binance Adjusts Leverage and Margin Tiers for Crypto Perpetual Contracts
Binance, the world’s largest crypto exchange, has announced that it will be changing the leverage and margin tiers for several crypto perpetual contracts, including the 1000LUNCUSDT perpetual contract. This adjustment in maintenance margin rates will require traders to hold more LUNC in their deposit accounts for perpetual trading. It is advised that traders adjust their positions and leverage prior to the adjustment to avoid potential liquidation. Binance has also made changes to the leverage and margin tiers for other crypto perpetuals such as TOMOUSDT, MINAUSDT, YFIUSDT, KLAYUSDT, ZILUSDT, QTUMUSDT, ENSUSDT, KSMUSDT, ONTUSDT, and SUSHIUSDT.
LUNC Price Jumps After Binance Announcement
Following Binance’s announcement, there has been a significant increase in short liquidations in 1000LUNC and LUNC contracts, causing prices to rise as traders close their positions. The 1000LUNC perpetual contract has recorded a major trading volume on Binance with a 47% market share in the last 24 hours. As a result of this announcement, the price of LUNC has jumped by 5% in the past 24 hours and is currently trading at $0.000067. The trading volume for LUNC has also increased.
Hot Take: Binance’s Adjustment Impacts LUNC Traders
Binance’s decision to adjust the leverage and margin tiers for crypto perpetual contracts, including the 1000LUNCUSDT contract, has had a direct impact on LUNC traders. The increase in maintenance margin rates requires traders to hold more LUNC in their deposit accounts, which has caused short liquidations and pushed up prices. LUNC price has seen a 5% jump in the past 24 hours, with increased trading volume. Traders are advised to adjust their positions and leverage to avoid potential liquidation. This adjustment highlights the importance of staying informed about changes in leverage and margin tiers in the crypto market.
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