Binance Introduces New Loanable Assets and Delists Margin Trading Pairs
The world’s leading cryptocurrency exchange, Binance, is making changes to its platform to enhance user experience and respond to market trends. The recent updates include the addition of new loanable assets and the removal of certain margin trading pairs.
New Loanable Assets on Binance Loans
Binance has added Filecoin (FIL), NEAR Protocol (NEAR), Stellar (XLM), EOS (EOS), Injective (INJ), and Alien Worlds (TLM) as new loanable assets on Binance Loans. Users can take advantage of this offering by upgrading their app to iOS v2.78.0 or Android v2.78.0.
“Older app versions no longer support the placement of new Binance Loans (Flexible Rate) orders,” the company warned.
Delisting of Margin Trading Pairs
Binance will remove 16 margin trading pairs from its platform on March 15. The affected pairs include ALICE/BTC, BAL/BTC, OAX/BTC, SXP/BNB, BOND/BTC, CHESS/BTC, HARD/BTC, and more.
It’s worth noting that some of these cryptocurrencies, such as SXP, BOND, and CHESS, have experienced a decline in price shortly after the delisting announcement. However, their poor performance could also be attributed to the overall market correction that occurred recently.
Market Corrections and Bitcoin Volatility
Bitcoin reached an all-time high price of over $69,000 on March 5 but experienced a significant drop to as low as $59,000. It has since recovered some ground and is currently trading at around $66,700.
The market correction and Bitcoin volatility have likely influenced Binance’s decision to make adjustments to its platform. These changes aim to address the evolving needs of users and align with market trends.
Other Recent Listing/Delisting Efforts
This is not the first time Binance has made changes to its trading pairs. Earlier this week, it added PEPE/FDUSD, UNI/FDUSD, OM/TRY, PIXEL/USDC, STRK/USDC, and THETA/TRY to Binance Spot.
In addition, Binance terminated services with Monero (XMR) and three other altcoins – Aragon (ANT), Multichain (MULTI), and Vai (VAI) – last month.
Hot Take: Responding to Market Changes
Binance’s recent updates reflect its commitment to improving user experience and adapting to market trends. By introducing new loanable assets and delisting margin trading pairs, the exchange aims to provide users with a diverse range of options while maintaining a responsive platform.
The market corrections and Bitcoin volatility have likely influenced these changes. As the cryptocurrency market continues to evolve, it is crucial for exchanges like Binance to stay agile and address the needs of their users.
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