By Blockchain News | Created at 2024-10-31 17:21:57 | Updated at 2024-10-31 19:33:56
2 hours ago
James Ding Oct 31, 2024 17:10
Binance announces updates to collateral ratios for multiple assets under Portfolio Margin, effective November 1, 2024. Users are advised to monitor Unified Maintenance Margin Ratio closely.
Binance, the leading cryptocurrency exchange, has announced a significant update concerning the collateral ratios of various assets under its Portfolio Margin program. According to the official announcement, these changes are scheduled to take effect on November 1, 2024, at 06:00 UTC and are expected to be implemented within an hour.
Impact on Unified Maintenance Margin Ratio
The update will impact the Unified Maintenance Margin Ratio (uniMMR), a critical component for traders utilizing the Portfolio Margin feature. Binance advises its users to keep a close watch on their uniMMR to prevent potential liquidation or losses resulting from the adjustment in collateral ratios.
Regional Availability and Discrepancies
In its announcement, Binance also highlighted that the availability of certain products and services might vary by region. Additionally, the company noted potential discrepancies between the original English content and translated versions, urging users to refer to the English version for the most accurate information.
Market Volatility Warning
Binance reiterated the inherent risks involved in digital asset trading, emphasizing the volatility of asset prices. The exchange reminded users that investments can fluctuate in value, and they may not recover the amount initially invested. Binance also stressed the high market risk and price volatility associated with futures trading, advising traders to make informed decisions and consult with advisors when necessary.
Broader Context
As the cryptocurrency market continues to evolve, exchanges like Binance frequently update their policies and protocols to adapt to regulatory changes and market conditions. This move comes in the context of increasing scrutiny on crypto assets and derivatives trading platforms, reinforcing the importance of responsible trading practices.
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