Binance Made Important Announcements For These 6 Altcoins!

Binance, the largest crypto exchange in terms of daily trading volume of cryptocurrencies, made new announcements for various projects. The exchange made new additions to the “credit”, “cross margin” and “Innovation Zone” fields. Here are the details…

Biance adds SPELL

In its announcement today morning, it announced that it has added SPELL to its Binance Loans platform as a collateral asset. Loans offers a wide variety of options for supported crypto assets, interest rates, collateral assets and maximum loanable limits based on market conditions and internal risk management. According to the exchange’s statement, Binance Loans offers a wide range of loanable and collateralized crypto assets with competitive interest rates.

Cross-margin service will now be available for these three altcoins

On the other hand, the exchange added FIO, IMX and SPELL as new loanable assets on cross-margin. The pairs in which these cryptocurrencies will be cross-margined are as follows:

• FIO/BUSD, FIO/USDT, IMX/BUSD, IMX/USDT, SPELL/BUSD, SPELL/USDT

Margin trading is a method of trading assets using funds provided by a third party. Compared to regular trading accounts, margin accounts give traders access to more capital. It also allows them to take advantage of their position. Essentially, margin trading strengthens trading results so that traders can make bigger profits on successful trades. The ability to expand trading results makes margin trading particularly popular in low volatility markets, especially in the international Forex market. However, margin trading is also used in the stock, commodity and cryptocurrency markets.

Binance adds to the Innovation Zone

As we have previously reported, the exchange announced that it has added Stargate (STG) to its Innovation Zone. As Cryptokoin.com also reported, this situation caused the price of STG to rise by more than 50 percent. Stargate is a cross-chain bridge protocol. The reason why Binance has yet to open STG for spot trading is that the coin is still considered volatile.

The Innovation Zone is a private trading zone where users can trade new, innovative tokens that are likely to have higher volatility and pose higher risk than other tokens. Before trading in the Innovation Zone, all users are required to visit a page where they understand what risks this area carries. Also in this region, there are no trading restrictions on trading pairs.

Innovation in referral campaigns

In addition, the exchange announced that it provides transaction fee discounts of up to 100 Tether (USDT) to users who invite their friends to join Binance. In addition, additional gift cards worth 200 BUSD each can be provided to users.