Leading crypto exchange Binance announced the full rollout of spot copy-trading. The crypto exchange also launched its funding rate arbitrage bot on Binance futures. Binance CEO Richard Teng shared the exciting development with the community. Meanwhile, Binance published an important announcement concerning BNB Beacon Chain users.
Binance launched spot copy-trading!
Binance, the world’s largest crypto exchange, announced that it has opened two new services to users. First, the exchange announced that it had officially launched spot copy-trading after many requests from users. Spot copy-trade allows users to automatically copy real-time spot trading strategies of experienced and skilled traders and review performance metrics such as ROI, PnL, etc. of each trader’s portfolio. It also allows lead investors to receive a 10% dividend from copy investors. In addition, lead traders earn a 10% commission from copy traders’ trading fees.
cryptokoin.comAs you follow from, Binance launched Futures Copy-Trade last year. Many users have requested a similar feature for spot trading. Because this feature simplifies trading without the need to execute trades manually. This also provides different strategies, risk management and educational development opportunities for copy-traders. According to Binance, over 70% of Active Lead Traders recorded positive P&L after signing up for Spot Copy-Trade, against a market that was particularly volatile and saw overall crypto market capitalization drop 11% in April.” Binance CEO Richard Teng also shared the exciting development for his users in a post.
The second service launched by the stock exchange: Funding Rate Arbitrage Bot
Meanwhile, the exchange has launched the Funding Rate Arbitrage Bot on Binance Futures. Funding Rate Arbitrage Bot allows investors to continuously open a position in futures. Additionally, he hedges this with an inverse position in the same crypto in the spot market. Thus, it allows the user to earn funding fees.
As part of the launch, Binance announced a special promotional program that offers users the opportunity to win from a total prize pool of 50,000 USDT. The promotion period will be valid between 15-29 May. Funding Rate Arbitrage Bot is Binance’s first trading bot that automates delta-neutral spot and futures arbitrage strategy, eliminating the need to manually execute two separate spot and perpetual futures trades.
Binance issued an announcement for BNB Beacon Chain users
Crypto exchange Binance has published an important announcement that concerns BNB Beacon Chain (BEP2) users. As stated by the project team in January 2024, BNB Beacon Chain (BEP2) will be phased out in June 2024. The sun-set plan is not a sudden interruption, but a carefully prepared transition process. In this context, the exchange announced that it will start migrating assets from BNB Beacon Chain (BNB) to BNB Smart Chain (BSC), effective May 15. The transition will continue over the next few weeks. The exchange aims to complete the transition in June 2024.
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