Binance Updates Collateral Ratio For 10 Crypto Under Portfolio Margin

The latest update from crypto exchange titan Binance has left traders speculating over a potential price impact

Crypto exchange titan Binance has sparked traders’ interest with the latest update, which might have implications for the price action of 10 crypto assets. In an official press release on Saturday, April 12, Binance announced that the collateral ratio of 10 tokens under portfolio margin is being updated. These tokens include DENT, ENJ, NOT, DASH, CHZ, AXS, ENS, SAND, THETA, and QNT.

The new ratios will be visible on the platform starting April 18 at 06:00 UTC. As the leading crypto exchange highlighted, the update will also affect the Unified Maintenance Margin Ratio (uniMMR). “Users should monitor uniMMR closely to avoid any potential liquidation or losses that may result from the change of collateral ratio,” Binance notified.

The update from Binance comes as the exchange has also revealed plans to list ONDO, VIRTUAL, and BIGTIME tokens, revolutionizing its trade offerings.

The crypto behemoth is also rolling out a new feature called Binance Pay that will allow users to make direct payments using cryptocurrencies. The new service will be available in select markets starting April 13. Binance stated that the service will initially launch with support for a limited number of cryptocurrencies, including Bitcoin, Binance Coin, and Ethereum, with plans to expand support for additional coins and to more markets in the future.

The service will enable seamless and cost-effective cross-border payments, eliminating the need for intermediaries such as banks or payment processors. Moreover, Binance Pay will offer users complete control over their transactions and the ability to track payments in real time.

The introduction of Binance Pay marks a significant milestone for the cryptocurrency industry, potentially paving the way for broader adoption of cryptocurrencies for everyday transactions. As Binance expands its services and capabilities, it continues to play a pivotal role in shaping the future of finance.