Binance’s updated leverage and margin tiers offer improved trading options for select trading pairs, bringing both potential rewards and risks for crypto traders.

The leverage and margin levels for USDⓈ-M perpetual contracts, including DAR, ME, CAKE, IOTA, LPT, ONE, and ZEN, will be updated by Binance Futures today, with effect from 08:15 UTC on Dec. 19, 2024.

USDⓈ-M stands for USD-Margined Futures, a type of cryptocurrency futures contract offered on platforms like Binance. It refers to stablecoins such as USDT (Tether) or BUSD (BUSD), which are pegged to the US dollar. These contracts are settled in these stablecoins, rather than traditional fiat currency or the underlying crypto asset.

Depending on the contract and position size, the revised leverage tiers will vary from 1x to 75x, enabling traders to fully benefit from their leveraged positions in the crypto market.

Leveraged positions of traders will be impacted by the new maintenance margin rates, which range from 1.00% to 50.00%.

Margin is the total amount of collateral needed to open and sustain a trading position, whereas leverage is the borrowing of funds to increase the size of a position. The possible return increases with leverage, but the chance of loss also goes up.

By adjusting the margin and leverage tiers, Binance Futures continues to give traders more choices to control risk and profit from volatile crypto market movements.

Traders must keep themselves updated with Binance Future trading rules and exercise risk management, particularly when working with high-leverage instruments over several contracts and margin holdings.

Binance has resolved a data glitch that affected the Pudgy Penguins PENGU token listing and caused discrepancies in market data. The issue stems from a delay in updating token information by CoinMarketCap, affecting the token’s market capitalization and fully diluted valuation.

However, the platform swiftly addressed the situation and announced a 135 million PENGU token airdrop for eligible users. This aims to compensate the users who have faced challenges due to the issue.

Binance Resolves PENGU Token Data Glitch with Airdrop

On December 18, Binance announced the resolution of a data issue affecting the Pudgy Penguins (PENGU) token following its listing on the exchange. The problem stemmed from a delay in updating key data points, such as market capitalization and fully diluted valuation, provided by CoinMarketCap. This caused discrepancies in the displayed information for the Pudgy Penguins. The exchange quickly identified the issue and notified CoinMarketCap, which subsequently updated the data.

To address user inconvenience, Binance announced a 135 million PENGU token airdrop for those who purchased Pudgy Penguins (PENGU) between 14:00 and 14:37 UTC on December 17. The airdrop will be distributed based on the volume of PENGU tokens each eligible user purchased during the snapshot period. It emphasized that blockchain transparency makes on-chain data the most reliable, with third-party data used for convenience.

This swift action by the top crypto exchange underscores its commitment to user satisfaction. By addressing the issue promptly, the exchange not only fixed the problem but also provided compensation to impacted traders. The airdrop serves as a goodwill gesture, reinforcing the exchange’s reputation as a responsive and customer-focused platform.

PENGU Token Price Surge and Market Context

The PENGU token saw a significant price surge following its listing on Binance, with a 500% increase in its value within 24 hours. At the time of writing, the token exchanged hands at $0.029. Its all-time high reached $0.05, reflecting strong investor interest and market enthusiasm following the listing. The rapid rise in PENGU’s price highlights growing interest in the Pudgy Penguins project. As more users discover the token, further gains are likely.

In contrast, the Simon Cat (CAT) token, which also saw a listing on Binance, experienced a decline in its price. The CAT token was trading at $0.000043, down 31% in the last 24 hours. Despite this drop, the token’s market capitalization is at $290 million, with trading volume reaching $600 million.

The surge in PENGU’s price highlights the excitement surrounding new listings. This potential for price movement is catching the attention of traders. The performance of one token could influence trends across the broader cryptocurrency market.

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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.