On 29th August, the world’s leading crypto exchange- Binance announced on its official blog about the addition of the Margin Trading for NEO and XMR. As per the announcement, the new Margin assets are NEO and XMR. On the other hand, the new Borrowable Assets are Neo and XMR.
Also, the new Margin Pairs include- NEO/BTC, NEO/USDT, XMR/BTC, XMR/USDT. There are many more supported assets and trading pairs for margin trading which are enlisted in a separate section of the website. These supported assets and trading pairs for margin trading include- BTC, XRP, ETH, TRX, USDT, LINK, ONT, USDC, ETC, BCHABC, XLM, and so on. Also, other things such as daily interest rates, borrow limits, marginable pairs, Index Price is also to be found on the website. You can find the link mentioned in the official announcement from Binance.
This addition by Binance has added a boost to the two cryptos- Monero and Neo. Binance has especially been quite active in the crypto sphere in recent times. Although, earlier this month, the crypto exchange had to face a stiff situation when a big scale cache of KYC (Know Your Customer) on the exchange got accidentally leaked. Even in these challenging times, the exchange stayed loyal to its core principles of staying transparent to its users about all the happenings in the exchange. They even went ahead to make sure that their users feel assured and secure.
The exchange has been regularly posting updates about any latest development in the exchange to keep its users updated and assured. Moving away from the KYC leakage glitch, otherwise, this month the exchange has stirred up some quite positive news in the Binance ecosystem. In this month, they launched a new lending platform that has opened up a great avenue of opportunities for the platform. On the other hand, the exchange launched- ‘Venus’ which is a crypto token very similar to Facebook’s Libra. Both of these moves were well welcomed by the users of Binance.
With these ongoing developments, the addition of Monero and Neo has added another dimension to the growth graph of Binance. The margin trading was much anticipated by the users of Binance network. The users were excited about the addition, but they were happy too with only six cryptos for margin trading facility- which the crypto exchange provided initially. After the new addition, the crypto exchange boasts seventeen cryptocurrencies. The announcement about the addition of Neo and Monero was very well received by the Twitter audience that exceeds more than 1 million users.
The addition of new Margin assets should boost the trading volume given the new pairs are offered in pairs of BTC and the U.S. Dollars. The exchange is not planning to sit comfortably after this launch, as the future plans of Binance include the launch of futures trading platform for cryptocurrencies.
With all the ups and downs which the exchange has faced this month, the native coin of the crypt exchange has gone down to 11.49 percent. The market cap of BNB was 3,507,355,301 USD or 364,678 BTC. Whereas, the volume of the crypto token as pert he press time, in the last 24 hours, has been 167,008,354 USD or 17,365 BTC. The circulating supply of the crypto coin was 155,536,713 BNB, and the total market supply of the crypto was 187,536,713 BNB, with the maximum supply of 187,536,713 BNB. The BNB coin is currently at the seventh spot in terms of being the biggest crypto.