Binance has disclosed updates, such as adding new trading algorithms for LTC, TRUMP, and Sonic and leverage adjustments for XRP, NEAR, and others.
Binance, the foremost cryptocurrency exchange, has disclosed substantial modifications that will influence numerous perpetual contracts, including XRP, NEAR, MEW, and others. Additionally, the exchange has implemented new trading automation services for specific spot trading pairs, such as Litecoin (LTC), TRUMP, and Sonic (S). The developments have attracted investors, as they frequently influence market sentiment and trading strategies.
Binance Modifies Margin Tiers and Leverage for XRP, MEW, and Other Cryptocurrencies
Binance Futures has updated the leverage and margin tiers for numerous USDⓈ-M perpetual contracts. Key trading pairs, including XRPUSDC, NEARUSDT, MEWUSDT, and RUNEUSDT, are impacted by this update, valid as of February 5, 2025. The exchange has verified that the positions opened before the update will remain unaltered.
This action is consistent with the crypto exchange’s endeavors to enhance trading efficacy and risk management. To preserve market stability, the exchange has previously implemented comparable modifications. The most recent official blog post from Binance contains the complete list of impacted trading pairs and updated tiers.
Binance Spot Unveils New Trading Bots for LTC, TRUMP, and SONIC
In a separate post, the exchange announced the launch of Spot Grid and Spot DCA trading algorithms for Litecoin, Sonic, and Trump to broaden its automated trading options. The three new trading pairs are TRUMP/USDC, S/USDC, and LTC/USDC. The objective of these algorithms, which are scheduled to be operational on February 6, 2025, is to improve users’ trading experience by automating buy and sell strategies.
In the interim, this expansion underscores the exchange’s dedication to offering a wide range of trading instruments suitable for long-term investors and active traders. Additionally, it anticipates that the market sentiment will be affected, potentially affecting the tokens’ performance.
What is the current state of XRP, LTC, and other cryptocurrencies?
The XRP price experienced a minor recovery after the most recent Binance announcement; however, it continued to trade in the negative territory at $2.52. Its one-day trading volume decreased by 49% to $10.3 billion. The XRP price has experienced a substantial decline today due to the recent outage experienced by the XRP Ledger.
Conversely, the price of LTC increased by over 3.55% to $104.81 today following the announcement. It is worth noting that a recent Litecoin price analysis suggests that a significant breakout is imminent, citing the potential approval of the LTC ETF in the United States.
At the same time, TRUMP’s price increased by approximately 10% and was traded at $18.63. Concurrently, the trading volume of NEAR decreased by 40% to $267 million, resulting in a 1% increase in price to $3.44.