Crypto Exchange Binance Raises Collateral Ratios For Multiple Crypto Assets Under Portfolio Margin
In Brief
Binance to adjust the collateral ratio for FLOKI, TON, DOGS, RENDER, SUN, RARE, and ADX under Portfolio Margin starting from September 3rd.
Cryptocurrency exchange Binance unveiled plans to adjust the collateral ratio for FLOKI, TON, DOGS, RENDER, SUN, RARE, and ADX under Portfolio Margin starting from 06:00 UTC on September 3rd. The adjustment is anticipated to be finalized within one hour.
The updated collateral ratio will be 40% for FLOKI and 30% for TON, DOGS, RENDER, SUN, and RARE. For ADX, it will be set at 20%.
It is important to note that the collateral ratio will impact the Unified Maintenance Margin Ratio (uniMMR). Traders are encouraged to check the uniMMR from time to time to avoid potential liquidation or losses due to changes in the collateral ratio.
Margin trading allows individuals to borrow funds using their holdings as collateral and leverage their positions, which can enhance trading efficiency. However, this also raises risks, as both potential gains and losses are magnified. It facilitates leveraged long and short positions spanning various digital assets in the spot market, enabling traders to benefit from upward and downward market movements.
The “collateral ratio” represents the percentage at which an asset is accepted as collateral. This ratio is tiered and may adjust as the quantity of the margin asset in the user’s Cross Margin account alters. Additionally, this ratio applies exclusively to Cross Margin and does not impact Isolated Margin.
Binance Adds Support To EURI And ADA On Binance Pay
It is a leading cryptocurrency exchange that supports transactions with over 350 cryptocurrencies and digital tokens. The platform is recognized for its competitive transaction fees and advantageous liquidity options, serving a diverse user base.
Recently, Binance introduced support for Eurite’s EURI stablecoin payments on its contactless and borderless cryptocurrency payment platform, Binance Pay. Additionally, it now supports Cardano’s ADA token payments for merchants, enabling instant settlements and accessibility to over 30 million users worldwide.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
