Binance Announces Important Update for Several Altcoins: Details Binance Announces Important Update for Several Altcoins: Details
Binance is one of the largest crypto companies and the largest in terms of cryptocurrency trading volume in the world, and any news or update from it about a cryptocurrency has a direct impact on the price of the currency in question.
Recently, Binance announced an update regarding the collateral percentage for the following cryptocurrencies:
Neiro (NEIRO) and Turbo (TURBO) and Sui (SUI) and Toncoin (TON) and Eigenlayer (EIGEN) and Eurite (EURI) and Scroll (SCR).
Here, the collateral ratio means the amount of assets needed to support the loan when using leverage.
The higher the ratio, the more likely the lender is to be able to get his money back, even if the market declines.
In another context, Binance announced that it will cancel the trading of many digital currencies by February 2025, and the alternative digital currencies in question are:
Coin Rupiah Token (IDRT) and Keep3rV1 (KP3R) and Ooki Protocol (OOKI) and Unifi Protocol DAO (UNFI).
Immediately after the announcement, the prices of the altcoins affected by the delisting fell, as this represents a severe blow to these digital currencies, which will inevitably lose a huge amount of liquidity, credibility decline, and negative feelings among their community, as we told you at the beginning of this article, Binance is a large platform and inevitably has a strong impact on the prices of digital currencies, whether upon listing or delisting.
