Binance has updated the leverage and margin tiers for DAR, ME, CAKE, IOTA, LPT, ONE, and ZEN, and this will impact their prices.
Binance has substantially revised the leverage and margin tiers for several prominent cryptocurrencies, such as Magic Eden (ME), PancakeSwap (CAKE), and five other cryptocurrencies. Mines of Dalarnia (DAR), IOTA (IOTA), Livepeer (LPT), Harmony (ONE), and Horizen (ZEN) are the other cryptocurrencies that are noteworthy. These updates from the leading crypto exchange have captivated the attention of investors, as they typically impact market sentiment.
Binance has updated the leverage tiers for key perpetual contracts
Binance Futures has introduced new leverage and margin tiers for specific USDT perpetual contracts, aligning its offerings with market dynamics. The update includes revised tiers for DARUSDT, MEUSDT, CAKEUSDT, IOTAUSDT, LPTUSDT, ONEUSDT, and ZENUSDT.
The revised leverage structure impacts several notable pairs. The maximum leverage for positions below $10,000 in DARUSDT was decreased from 75x to 50x. In the same vein, MEUSDT maintains its 75x leverage for positions under $10,000, but it modifies tiers for more prominent positions, thereby increasing the margin requirement for trades exceeding $3 million. CAKEUSDT, a frequently traded pair, is also subject to adjustments. Margin rates are recalibrated for trades exceeding $5 million, while small positions maintain 75x leverage.
The leverage ensures the competitive conditions for traders managing smaller portfolios increase that more minor position tiers experience for IOTAUSDT and LPTUSDT. However, larger trades, such as those exceeding $2 million for ZENUSDT or ONEUSDT, now necessitate higher maintenance margins, indicative of Binance’s emphasis on risk mitigation in volatile markets.
These updates emphasize the top crypto exchange’s dedication to preserving a secure and efficient trading environment. The modifications apply to job openings created after 08:15 (UTC) on December 19. Existing positions are unaffected, providing traders with a continuous experience. This strategic move underscores Binance’s adaptability and commitment to optimizing trading conditions.
DAR, ME, CAKE, and Other Companies Experience Volatility in Prices
The price movements of numerous tokens have been inconsistent due to the Binance Futures leverage update. Nevertheless, the decline of tokens may also be attributed to the pessimistic sentiment observed in the broader crypto market. The price of Mines of Dalarnia (DAR) has decreased by 4% in the past 24 hours, currently trading at $0.162. It has a 24-hour trading volume of $33 million and a market capitalization of $100 million.
The price of Magic Eden (ME) has decreased by 10% in the past 24 hours and is currently trading at $2.80. The 24-hour trading volume of the token is $317 million, and it has a market capitalization of $372 million. The ME token experienced a significant increase in value, reaching $25, before experiencing an 80% decline following its listing on Binance.
PancakeSwap (CAKE) was $2.763, representing an 8% decrease in the past 24 hours. Its market capitalization is $797 million, with a 24-hour trading volume of $187 million. The price range for the 24 hours was $2.75 to $3.07.
In the past 24 hours, the price of IOTA (IOTA) has decreased by 8%, trading at $0.32. The 24-hour low and high of the company were $0.30 and $0.36, respectively, with a market capitalization of $1.17 billion and a trading volume of $115 million.
In the past 24 hours, Livepeer (LPT) has experienced a 10% decline in value, trading at $13.45. In the 24 hours, the price of Harmony (ONE) decreased by 12% and was traded at $0.0275. It has a 24-hour trading volume of $41 million and a market capitalization of $393 million.
Horizen (ZEN) experienced a 6% increase in the past 24 hours, trading at $15.35. The token has a trading volume of $79 million and a market capitalization of $241 million. It was priced between $13.90 and $15.77 during the 24 hours.
The price movement of numerous cryptocurrencies is significantly influenced by Binance’s announcements, which are of paramount importance. Binance recently delisted the SUI and HMSTR trading pairs, resulting in substantial price declines for these coins. This underscores the direct impact of exchange actions on investor sentiment and market dynamics.
