An important Binance update regarding Cardano (ADA) and Dogecoin (DOGE) traders

TL; DR

PIVX Added to Binance Margin Trading: Binance introduced PIVX as a leveraged asset in margin offerings, resulting in a 15% price increase for PIVX. New ADA and DOGE Trading Pairs: Binance has added ADA/FDUSD and DOGE/FDUSD pairs to its margin trading options, along with gains in Cardano and Dogecoin prices. Risks and Benefits of Margin Trading: Binance's Margin Trading enables the use of positions with borrowed funds, which offers high profit potential but also high risks of loss.

The world's largest cryptocurrency by trading volume – Binance – has seen some improvements around margin offerings.

Especially the market place Added PIVX (PIVX) as a new loanable digital asset with cross margin and independent margin.

The price of the token responded positively to the news, increasing by 15% and briefly surpassing the $0.40 mark (according to CoinGecko data). However, the value decreased slightly in the following hours, currently hovering around $0.37.

Moreover, Binance has added ADA/FDUSD and DOGE/FDUSD among other trading pairs to its independent margin program. Cardano and Dogecoin are both doing well in the green, having recently made significant gains.

In the past 24 hours, the former is up 14 percent, while the largest Memcoin is up roughly 4 percent by market capitalization.

Binance Margin Trading allows qualified clients to benefit from the exchange for enhanced trades. Therefore, traders can handle large sums and adjust their position accordingly.

It is important to note that margin trading can result in higher profits when it comes to successful trading. But if the market moves in the opposite direction, it can lead to even greater losses.