Cryptocurrency exchange Binance again captured noteworthy market attention with its latest update on 6 tokens this Tuesday. Notably, the exchange revealed that it is updating the leverage and margin tiers for RARE, AXS, ZEN, XTZ, SAGA, and CATI. As a response, market watchers are speculating whether the assets’ prices will react amid a market turmoil.
Binance Updates Leverage & Margin Tiers For 6 Tokens
In an official release dated March 11, Binance revealed that it is updating the leverage and margin tiers of RAREUSDT, AXSUSDT, ZENUSDT, XTZUSDT, SAGAUSDT, and CATI USDT USD-margined perpetual contracts. Starting March 11 at 09:30 UTC, users remain poised to trade with enhanced offerings.
Among other offerings, the exchange is updating the CATIUSDT USD-Margined perpetual contract and adding 5x leverage for 800,000 < Position ≤ 1,000,000 with a 10% maintenance margin rate. For more details on the new offerings, users can check the exchange’s official announcement.
What’s More For Traders?
Binance revealed that the existing positions opened before the update will be affected. “Futures running grid might expire due to updates on the leverage and margin tiers, users are advised to adjust accordingly before the change,” the exchange added.
For context, the enhanced offerings further ensure a robust trading experience for users. In turn, market participants anticipate enhanced trading volumes, thereby bolstering prices despite the broader market volatility.
Crypto Market Blues
However, the crypto market saw massive liquidations today, with prices facing heat amid rising U.S. recession fears. CoinGape reported that the chances of a recession soared to 40% recently.
As a result, risk assets like Bitcoin and Ethereum saw a waning movement. However, BTC price soon recovered from a $76K low to reach the $81K level, glimmering hope for future movements.
How Are The Coins Performing Amid Binance’s Update?
As of press time, CATI price dipped over 5% and exchanged hands at $0.1482 despite the new offerings. The coin bottomed and peaked at $0.1475 and $0.1592 intraday.
However, RARE price surged 37% in the past 24 hours and closed in at $0.1265. The coin hit a low and a peak of $0.08828 and $0.1425 intraday.
On the other hand, AXS price dipped over 8% and traded at $2.97. The coin bottomed and peaked at $2.73 and $3.26, respectively.
XTZ price traded at $0.6657, down 8% in the past 24 hours despite Binance’s offerings. Its intraday low and high were $0.6137 and $0.7257, respectively.
SAGA price also plummeted by 8% and exchanged hands at $0.3394 today. Notably, most of the tokens included in the announcement are underperforming amid broader trends. Nevertheless, market participants anticipate some relief amid enhanced offerings on one of the top crypto exchanges.
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