Binance goes live with its crypto margin trading function

14 July, 2019, 14:20 | Author: Regina Silva
  • Binance Coin Burn Transaction Details

The price of BNB is $31.72 after a jump of 4.95% was noted. While both institutional and retail trading is growing at Binance, individual investors account for about 60% of trading volume which is the same proportion as the previous year.

Binance Coin (CURRENCY:BNB) traded up 7.5% against the US dollar during the 1 day period ending at 18:00 PM E.T. on July 12th. However, there are 189 million in circulation now, and the surplus of 89 million tokens held mostly by the Binance team will be eventually burnt. "The team will burn off the 80,000,000 BNB team allocation first, and the remaining 9,000,000 BNB will be burned by Binance.com exchange".

Binance Coin can be bought or sold on the following cryptocurrency exchanges: LBank, Gate.io, HitBTC, IDEX, FCoin, Exrates, Bancor Network, AirSwap, EtherDelta (ForkDelta), Binance, DDEX and Trade Satoshi. 189 Million coins were in circulation including the ones held by Binance Team, which means that 899 Million more will follow the same path, in order to reach the 100 million objective.

Binance has announced it will soon begin its token burn, keeping to its commitment of burning 100M BNB in total.

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As the 2-year anniversary is being celebrated, this is a new milestone for all those part of the ecosystem. As the article notes, the total supply of the chain won't be disturbed. Investors seeking to acquire Binance Coin should first buy Bitcoin or Ethereum using an exchange that deals in USA dollars such as Coinbase, Gemini or GDAX. Changpeng Zhao and his group are known to be pioneers of blockchain technology.

Margin in cryptocurrency trading can be used to open both long and short positions, where a long position reflects an assumption that the price of the asset will go up, while a short position reflects the opposite.

Continuing further, CZ said that this move showcases the fact that the team of Binance isn't driven by money but are on a greater mission. I have an innate desire to be a seasoned trader in the near future.

A specialist in comics and cryptocurrencies with an inclination towards DASH and Cardano. Analyzing candlestick charts is a personal hobby.

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