Binance Unveils Major Update for SHIB, ADA, FLOKI and HBAR, What’s Next?

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As a seasoned analyst with over two decades of experience in the financial markets, I find these updates by Binance intriguing and potentially beneficial for users. The adjustments in leverage and margin tiers for popular assets like SHIB, ADA, FLOKI, and HBAR offer increased flexibility for traders, catering to varied strategies.

News from Binance: The Binance Futures platform has revealed significant changes to its popular USD-M perpetual contracts, such as Shiba Inu (SHIB), Cardano (ADA), FLOKI, and Hedara (HBAR). This update brings new levels of leverage and margin, affecting leading trading pairs and boosting users’ trading freedom by increasing flexibility.

The modifications affecting extra items such as BONK, PNUT, ACT, RENDER, HIPPO, GRASS, and REN are designed to enhance multiple trading approaches. Importantly, any open positions established before the update will be left unchanged, enabling users to keep their previous settings intact.

Binance Announces SHIB, ADA, FLOKI and HBAR Contracts

November 19th saw Binance exchange disclose substantial modifications to the leverage and margin arrangements for several USD-M perpetual contract pairs such as SHIB/USDT, ADA/USDT, FLOKI/USDT, and SHIB/USDT. The aim of these alterations is to bolster market stability by tweaking leverage choices across different position dimensions, thereby influencing both small and large traders equally.

On ADA/USDT, USD 10,000 or less positions will have a leverage of between 51-75 times with a maintenance margin rate of 0.50%. For positions ranging from USD 10,000 to USD 50,000, the leverage is reduced to 26-40 times, while the maintenance margin rate remains at 1.00%. Similar modifications have been implemented for BONK/USDT and SHIB/USDT contracts, affecting the leverage and margin rates for different position sizes in these markets.

As per Binance, the leading cryptocurrency trading platform, these modifications are designed to establish a risk-balanced atmosphere. It’s advisable for traders to scrutinize the revised leverage levels to make sure they match their respective trading strategies.

Market Performance on the Crypto Tokens

Currently, SHIB’s value stands at approximately 0.00002551 USD, experiencing a 4% increase following Binance’s recent announcement. Its lowest and highest points in the past 24 hours were $0.00002415 and $0.00002562 respectively. On the other hand, ADA has climbed by 3%, reaching 0.74 USD today, further boosting its weekly surge to a remarkable 30%.

In just seven days, the value of HBAR has skyrocketed by 160% to reach $0.14. Over the last day alone, there’s been a significant surge of 25%. This increase suggests a remarkable uptick in trader interest, as evidenced by a 125% boost in trading volume within the past 24 hours. The recent price rise can be attributed to speculation surrounding HBAR Foundation board member Brian Books as one of the potential candidates for the US SEC Chair position.

FLOKI price climbed 1% in the last 24 hours, with the price currently trading at $0.0002532. The trading volume has dropped by 38% in the last 24 hours. The team announced a huge marketing campaign in India amid the recent Coinbase listing.

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2024-11-19 16:51