Important announcement from Binance regarding Cardano (ADA) and Dogecoin (DOGE) traders

TL; DR

Binance Expands Margin Trading: Binance has added new margin trading pairs to its trading options following the addition of leading cryptocurrency exchanges ADA and DOGE to its independent margin program. Impact on Trading and Volatility: The addition of these assets to Binance's Margin Trading may affect their liquidity and trading volume, which may result in changes in market volatility. Binance's Operational Adjustments: Aside from adding new pairs, Binance also sometimes cancels certain cryptocurrencies, affecting the market dynamics of the affected digital assets.

Binance adds support for ADA and DOGE

The world's largest cryptocurrency exchange – Binance – It is spread Its margin services allow users more trading options. Most recently, the company added ten new profit-margin pairs, including ADA/FDUSD, DOGE/FDUSD, MATIC/FDUSD, LINK/FDUSD, and more.

His decision will come in about two weeks It is sitting ADA/FDUSD and DOGE/FDUSD in independent margin program.

It is worth noting that margin trading allows people to use the currency for their own trades. Such a move may result in greater profits if the market moves in the opposite direction, but also greater losses.

The additional support of a crypto behemoth like Binance and placing an asset in the said program can increase the volume and trading volume of the participating token, which can lead to greater volatility.

Most of the coins included in the offering, such as DOGE, LINK and AVAX, experienced little-to-no price fluctuations. Polygon (MATIC), on the other hand, is up slightly, up about 4% over the past 24 hours and up 13% for the week.

Binance cancellation efforts

In addition to occasionally adding new trading pairs, the leading crypto marketplace removes them when necessary. last week, He drew To avoid 11 spot trading pairs focused on the British Pound, XRP/GBP, SOL/GBP, ADA/GBP, BTC/GBP, and ETH/GPT are some examples. The amendment is expected to take effect from December 29.

Such a listing update may adversely affect the value of the digital assets involved in the trading pair as it may reduce their liquidity or damage their reputation. This time it wasn't, Solana (SOL) has started a real bull run in the last few days.

The token's price hit a 20-month high of around $125 (per CoinGecko data) before settling back to its current level of around $115.