Binance, the pioneer of crypto currency exchanges, announced on Monday, March 24, announced that it will update the collateral rates for six different tokens. Stock market, CRV, UNI, ALGO, KSM, XTZ and XEC token ‘Portfolio Margin’ within the scope of the collateral rates will reduce the rate, he said. This development led to speculation as to whether the relevant assets will have an impact on price movements in the markets.

Binance announced new collateral rates for six token

Binance, one of the largest stock exchanges in the world, has attracted the attention of investors with a new update. The platform announced that it will reduce collateral rates for six important tokens. This decision was closely monitored by market players, while the speculation of these assets on future price movements. According to Binance’s official announcement, these changes will enter into force as of March 28 TSI 09:00. New collateral rates will be as follows:

• CRV – 85 %to 80 %
• UNI – 85 %to 80 %
• Algo – From 85 %to 75 %
• KSM – From 80 %to 70 %
• XTZ – From 75 %to 60 %
• XEC – From 70 %to 55 %

Binance said the update will be completed within an hour. These low guarantee rates mean less borrowing capacity for trader and investors. As a result, it is predicted to reduce market interaction for these assets and create question marks on long -term price movements.

How did crypto prices react?

In addition, Binance announced that the collateral rates will be effective on Unified Maintenance Margin Ratio (Unimmr). While this development is closely monitored in the markets, traders and investors are updating their strategies in line with new opportunities. Despite the deduction in the guarantee rates, the relevant crypto currencies continue to be traded in the green area. Following the announcement of Binance, the mobility in the markets draws attention:

• The Curve DAO (CRV) price increased by 4 %to $ 0.5137 and reached $ 0.5261 during the day.
• UNISWAP (UNI) price increased by 2 %to $ 6,90 and increased to $ 6.93 in 24 hours.
• Algorand (Algo) price reached $ 0.1997 with a 5 %rise in the last 24 hours and rose to $ 0.2011.
• The price of the vomiting (KSM) increased by 10 %and rose to $ 18,59.
• Tezos (XTZ) gained 3 %and reached $ 0.7113.
• The ECASH (XEC) price increased by 2 %to $ 0.00002226.

In general, despite Binance’s decision, relevant assets continue to perform positive performance in the market. However, traders continue to carefully monitor the long -term effects of the fall in the guarantee rates.