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Binance Futures Overhauls Pepe Coin, Solana & Other Crypto Leverage Tiers
Binance Futures, a leading cryptocurrency derivatives platform, has announced a comprehensive overhaul of its leverage and margin tiers for several popular cryptocurrency assets. The changes, implemented on August 2, 2024, affect U-margined perpetual contracts for SOLUSDT, 1000PEPEUSDT, MEWUSDT, and TAOUSDT.
Binance Futures Announces Leverage Tier Restructuring
Binance Futures has unveiled significant changes to its leverage and margin tiers for several popular digital assets. The update, which took effect on August 2, 2024, at 14:30 UTC, affects U-margined perpetual contracts for SOLUSDT, 1000PEPEUSDT, MEWUSDT, and TAOUSDT. These adjustments reflect Binance’s ongoing efforts to refine its trading environment, potentially in response to market conditions or risk management considerations.
The revised structure modifies both the maximum leverage limits and the corresponding position sizes for each tier. Notably, the changes vary across different cryptocurrencies. For SOLUSDT, the platform has expanded the position sizes for higher leverage tiers, potentially allowing traders to take larger positions with high leverage.
1000PEPEUSDT sees an increase in maximum leverage for smaller position sizes, with the top tier now offering 51-75x leverage for positions up to 5,000 USDT. MEWUSDT and TAOUSDT have undergone adjustments to their tier structures, with some tiers seeing increased position size limits.
Alongside these leverage modifications, Binance Futures has also updated the maintenance margin rates for various position sizes across all affected assets. These changes will impact the amount of collateral traders need to maintain for their positions.
Importantly, Binance has stated that the new tier structure will not affect existing positions, allowing current trades to continue under their original terms. This approach ensures that traders are not immediately forced to adjust their open positions due to the changes.
Also Read: Genesis Trading Moves $126M In Ethereum, What’s Next For ETH?
Significant Developments By Binance
In a separate but equally significant development for the blockchain industry, Binance Labs, the venture capital and incubation arm of Binance, has announced a major investment in Particle Network. This innovative company is developing a groundbreaking Layer 1 solution aimed at unifying blockchain networks through Universal Accounts.
Particle Network’s modular Layer 1 blockchain addresses a critical challenge in the expanding blockchain ecosystem: the fragmentation of user bases and liquidity across multiple chains. Their Chain Abstraction infrastructure offers four core features: Universal Accounts, Universal Liquidity, Universal Gas, and the Particle L1 chain.
Also Read: Bitcoin Options: 37000 Contracts Expiring on August 2 Amid BTC Volatility
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
TON-based P2E crypto project Catizen (CATI) sparked a tidal wave of investor optimism on Friday as crypto exchange giant Binance issued a vital announcement on it. The exchange revealed that it will add the token to simple earn, convert, margin, and auto-invest, in light of its listing. This announcement has sparked optimistic speculations over the P2E project, as its price shot up over 30% in the wake of the exchange’s support.
Binance Adds Catizen To Its Stockpile of Offerings
In an official Binance announcement dated September 20, the CEX revealed that it will add Catizen (CATI) to simple earn, buy crypto, convert, and margin today. Meanwhile, the TON-based token has already commenced trading on the exchange.
As per the announcement, CATI Simple earn and flexible products will be listed today at 10 UTC. Starting September 23, users may purchase the token using any payment option supported on auto-invest.
Further, the platform’s users can also buy Catizen via VISA, MasterCard, Google Pay, and Apple Pay. Meanwhile, the asset can be sold with the help of wallet balances on the ‘buy crypto’ page.
Binance added that “users will be able to start trading CATI against BTC, USDT, and any other tokens on convert at zero fees within one hour” of the token’s listing on the exchange. Also, the ‘CATI/USDT and CATI/FDUSD’ pairs on Cross and Isolated Margin will be available starting today at 12 UTC.
Altogether, the announcement has set off waves for Catizen, fueling bullishness for the coin’s price action.
Token Price Soars Over 30%
Meanwhile, with CATI making its debut on one of the top crypto exchanges, the token’s price soared nearly 34% from its 24-hour low of 0.6989 to touch $0.9353 at press time. The coin’s intraday low and high were $0.832 and $0.9913, respectively.
This rising price action aligns with previous listings witnessed on the crypto exchange giant. Notably, Kadena (KDA) price rocketed nearly 30% on Binance listing recently. Moreover, even Solana coins MEW & FIDA gained on their listings on CEXs.
Altogether, Catizen’s price upswing aligns with this market phenomenon. Also, a recent CATI price analysis by CoinGape Media suggested that the coin reflects the potential to reach $1 despite the controversy involved with its airdrop.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Solana’s Frankendancer upgrade, which incorporates elements of the Firedancer validator client, has gone live on the network’s mainnet. Network validator Jump Crypto gave a live demo of this upgrade at the ongoing 2024 Solana Breakpoint conference. This undoubtedly provides a bullish outlook for the SOL price which is already up 9% in the last 24 hours.
Solana Frankendancer Upgrade Goes Live
Jump Crypto showed proof of life of the Frankendancer on the mainnent at the Solana Breakpoint conference. Github data also indicates that the network upgrade is ready for mainnet release, with validators set to adopt the network upgrade. The Solana Frankendancer is a major step in integrating Firedancer, which will rewrite the three functional components of the Solana Labs client.
The network upgrade will ensure that each level is optimized for maximum performance, ensuring that validator clients can operate at full capacity. The upgrade will also help to scale Solana’s bandwidth and hardware. It will also help to “document and standardize the Solana protocol.” Eventually, the aim is to ensure anyone can create a validator by glancing at the documentation without delving into the Rust validator code.
Furthermore, the Solana Frankendancer will also help to increase validator client diversity and improve the ecosystem’s performance. This development comes just days after Solana revealed that the ZK Compression is live on its mainnet.
Meanwhile, Jump’s Chief Science Officer Kevin Bowers mentioned at the Solana Breakpoint that Firedancer, the complete validator client, is running on the testnet. He didn’t state exactly when it will go live on Mainnet.
SOL Price Soars 9%, Rises Above $150
The SOL Price has surged 9% in the last 24 hours. SOL price is back above $150 following the announcement of the Solana Frankendancer upgrade. The coin’s trading volume is also up by over 8%, with over $3 million traded in the last 24 hours.
This news undoubtedly provides a bullish outlook for SOL, which has stood out as one of the biggest gainers following the crypto market recovery.
It is worth mentioning that asset manager Franklin Templeton had previously highlighted that the Firedancer upgrade would solve the network issues that Solana has faced, including downtime. In line with this, they expect SOL to rank as a top 3 crypto asset alongside Bitcoin and Ethereum. SOL is currently ranked as the fifth-largest cryptocurrency by market cap.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Solana’s Jupiter exchange has announced the acquisition of SolanaFM and Coinhall at the ongoing 2024 Solana Breakpoint conference. The decentralized exchange (DEX) also announced the imminent launch of its Jupiter Mobile, which will help easily onboard millions of users into the Solana ecosystem.
Jupiter Exchange Acquires SolanaFM And CoinHall
The decentralized exchange has acquired the native Solana data explorer, SolanaFM. The DEX aims to use this move to increase its data and infrastructure capabilities, providing its users with real-time information. DappRadar data shows Jupiter is one of the largest decentralized trading platforms on Solana, and this move is expected to help increase its market dominance.
Jupiter has also acquired Coinhall, a leading aggregator on the Cosmos Chain. Coinhall will integrate its Solana integration into the exchange’s products as part of the acquisition. The aggregator will bring its expertise in “pro-trading terminals, real-time infrastructure, and cross-chain” to the Solana DEX.
Furthermore, the decentralized exchange and Coinhall have collaborated to launch the Ape’s Pro trading terminal, focusing on meme coin trading. The platform will feature real-time streaming of new tokens, data, and charts for traders. Traders will also enjoy “superior transaction execution through dynamic Jito fees and MEV protection.”
The Solana DEX also plans to launch the Jupiter Mobile soon to onboard millions of users into the Solana ecosystem. The platform will boast zero fees, and users can buy SOL using Apple Pay, Google Pay, or credit cards. The decentralized exchange further revealed that the platform will boast a one-tap swap feature, ensuring it is straightforward to buy crypto.
Other Notable Announcements At Solana Breakpoint
The decentralized exchange also announced the launch of the Metropolis API platform at the Solana Breakpoint to make building on the DEX much easier. The update includes the Swap, Price, and Token API, which anyone can access via Metropolis. The DEX added that the goal is to allow developers to easily integrate with Solana’s liquidity and build a sustainable business on the platform.
The Solana DEX has also launched the Jupiter RFQ to help improve Solana’s liquidity. This move will ensure that the DeFi platform continues to provide the best prices across all platforms.
RFQ delivers an avenue for market makers who use centralized exchanges like Binance to provide liquidity on Solana easily. This update is expected to go live with a beta version next week. The DEX revealed that they are also working on integrating it into the main platform’s Routing.
The DeFi platform already has a reputation as one of the top decentralized exchanges for leverage trading and is set to solidify its position with its perps v2 platform. The v2 platform features three significant updates. It will boast a limit order, Dove Oracle standard, and gasless transactions for Perps trading.
These updates undoubtedly provide a bullish outlook for the Solana ecosystem. The announcement comes just a day after Solana revealed its new Seeker mobile. Meanwhile, as Coingape reported, the ZK Compression is live on the Solana mainnet.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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