Major crypto exchange Binance launches margin trading service
“With margin trading being one of the most requested services from our community, this is a testament to the large market demand from retail and institutional traders alike and its promising possibilities in the future,” Binance co-founder Yi He said.
The news came just a day after Binance officially launched a new fiat-to-crypto trading platform in Singapore. The platform supports three digital currencies – Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) – and trading in the Singapore dollar.
Earlier this month, Binance announced that crypto futures would be coming to its platform. The company said at the time that the feature would be introduced a few weeks after the roll-out of the margin trading.
Meanwhile, Binance’s proprietary token, BNB, has suffered some significant losses over the past 24 hours amid a larger cryptocurrency downswing. As of 14:34 BST, the BNB price stood at $30.16, down almost 7% from the same time yesterday. The coin’s total market capitalisation currently stands at $4.2 billion, which makes BNB the seventh-largest digital currency on the market.
Featured image: ymcgraphic /Shutterstock.com
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The post Major crypto exchange Binance launches margin trading service appeared first on The Independent Republic.
source: https://theindependentrepublic.com/major-crypto-exchange-binance-launches-margin-trading-service/
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