Binance, the world’s largest cryptocurrency exchange by trading volume, has released new announcements for various altcoins. Here are the details…
Binance adds new altcoins to margin services
Binance is on Cross Margin, i.e. GAL, MOB, NEXO, SRM, as new loanable assets “on cross margin” Added STX and WOO. Added GAL, MOB, and NEXO as new loanable assets in Isolated Margin. The new cross-margin pairs are as follows:
- GAL/BUSD
- GAL/USDT
- MOB/BUSD
- MOB/USDT
- NEXO/BUSD
- NEXO/USDT
- SRM/USDT
- STX/BUSD
- STX/USDT
- WOO/ USDT
The new isolated margin pairs are as follows:
- GAL/BUSD
- GAL/USDT
- MOB/BUSD
- MOB/USDT
- NEXO/BUSD
- NEXO/USDT
New altcoin to OTC & Convert portal’ Added
Binance announced the addition of 90 new pairs and GAL, REI and SXP to its Convert & OTC Portal. Users can now trade these tokens for BTC, BUSD, USDC, USDT and other tokens and check indicative prices on these assets via the Convert & OTC Portal. Binance’,n OTC & Convert portal can accommodate both small and large crypto block trading, as we have also reported as Kriptokoin.com, it represents the evolution of Binance’s growing suite of services for large-scale crypto users.
Via the Binance Convert & OTC Portal, traders can request an on-demand quote (RFQ) 24/7. Once traders like the rates they see, they can continue to confirm transactions and receive fast payouts directly into their Binance account. A key advantage of using the portal is that it usually offers better prices for trading large crypto blocks compared to buying/selling on the exchange, and prices normally get better as they get larger compared to the order book.
This is because the order book is starting to thin, causing more and more slippage. Small cap / low volume coins are most affected by this and can often be very difficult to buy/sell even in relatively small quantities. To combat this, traders would sometimes trade smaller sizes and wait patiently in hopes that the order book would fill up or they would drop their limit orders. However, the portal prevents this.
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