Binance Enables Margin Trading for Nine Trading Pairs
Binance Enables Margin Trading for Nine Trading Pairs
Major cryptocurrency exchange Binance has made changes to its public Application Programming Interface (API) that suggest the company has enabled margin trading for nine trading pairs. The API update added two variables, with one indicating whether spot trading is allowed and the other indicating whether margin trading is allowed.
A Reddit user noticed on May 1 that the isMarginTradingAllowed flag, previously disabled for all pairs, is now enabled for nine trading pairs on Binance. These pairs include BTC/USDT, BNB/BTC, BNB/USDT, ETH/BTC, ETH/USDT, TRX/BTC, TRX/USDT, XRP/BTC, and XRP/USDT.
Binance CEO CZ acknowledged the discovery in a tweet on May 2, stating, “Crowd intelligence is amazing.” The exchange had previously promised in its white paper to implement margin trading after spot trading and before futures.
This development comes as Japanese financial regulators introduce new regulations for cryptocurrency margin trading, and as Malta-based exchange OKEx adds four new margin trading pairs with up to 100x leverage. The cryptocurrency market continues to evolve with new trading options and regulations being introduced.
For more news and analysis on cryptocurrencies, stay tuned to Cointelegraph.