Here are the highlights of these updates:
Collateralization Ratio Adjustments: Binance has announced adjustments to the collateralization ratios for several cryptocurrencies, including Neiro (NEIRO), Turbo (TURBO), Sui (SUI), Toncoin (TON), Eigenlayer (EIGEN), Eurite (EURI), and Scroll (SCR). The collateralization ratio determines the amount of assets required to back a loan when using leverage; the higher the ratio, the more likely a lender is to recover their money even in the event of a market downturn.
Delisting of several cryptocurrencies: Binance has announced its intention to delist several cryptocurrencies by February 2025, including Rupiah Token (IDRT), Keep3rV1 (KP3R), Ooki Protocol (OOKI), and Unifi Protocol DAO (UNFI). This announcement has led to a decline in the prices of these coins, as the delisting is expected to negatively impact their liquidity and credibility.
API Updates: Binance has made updates to its API, which may impact the platform’s integration with other apps and services. Developers are advised to review these updates to ensure their apps are compatible with the platform.
Binance Android App Updates: Binance has released a new version of its Android app (version 2.93.4 dated December 27, 2024), which includes performance improvements and bug fixes, enhancing the user experience in mobile crypto trading.
Listing of new cryptocurrencies: Binance continues to expand the list of cryptocurrencies available for trading on its platform, recently listing new coins such as Velodrome Finance (VELODROME), providing users with diverse investment opportunities.
Impact of these updates on users: It is important for users to keep track of these updates and changes, as they may impact their investment and trading strategies. It is advisable to keep abreast of official announcements from Binance and ensure that your investment activities are in line with the new changes.