Binance, one of the world’s leading cryptocurrency exchanges, recently made several important announcements to improve its trading offerings and infrastructure. These developments include new trading pairs, the addition of XVG as a borrowed asset on Isolated Margin. It also includes upgrading the wallet infrastructure to provide better efficiency and funds security for users. Work details…
Binance adds three new trading pairs with TRY
First of all, Binance has added a few trading pairs with the Turkish Lira (TRY). Starting at 11:00 am on July 7, 2023, Binance users will have access to three new trading pairs. These are as follows: MAV/TRY, OCEAN/TRY and TUSD/TRY. TRY, a fiat currency, is paired with these crypto assets, giving users more trading options and opportunities. It is important to note that TRY does not represent any other cryptocurrency. In addition, Binance has also offered a promotional offer for the TUSD/TRY trading pair. Users will enjoy zero maker fees on a pair until further notice. This incentive aims to potentially increase liquidity and trading activity by encouraging investors to enter the TUSD/TRY market.
XVG takes its place in the isolated margin
Binance has also expanded its Isolated Margin offerings in response to user demand by adding XVG as a loaned asset. Traders can now use XVG as collateral for margin trading on the newly introduced XVG/USDT Isolated Margin pair. For comprehensive information on collateral assets, specific limits, collateral rates and rates, users are advised to consult the Margin Data section on the Binance platform.
Moving many network addresses
On the other hand, Binance is preparing to improve its wallet infrastructure to provide better efficiency and fund security to its users. As part of this ongoing process, the exchange will deprecate selected deposit addresses and notes in groups organized by network. Affected users will receive email notifications in batches and notify them to receive new addresses and notes (if any).
The migration of network addresses is scheduled to take place between July and September 2023, with specific dates for each network. Affected networks include BTC, BCH, XRP, SOL, XMR, LTC, ADA, DOGE, DOT, FIL, ALGO, NEAR, WAVES, AVAX, HBAR, RUNE, EGLD, FLOW, ICP, EOS, KAVA, DASH, ELF, IOST , IOTA, STX, WAX, CKB, ICX, ASTR, SCRT, INJ, BAND, STEEM, HIVE, XEM, FET and BTS.
Binance emphasizes that users who do not receive an official notification should continue to use their current deposit address. Only users who are directly notified by Binance are required to obtain new deposit addresses and memos before the expiration date stated in the notice. More importantly, funds deposited to expired addresses will not be lost. Users can be credited manually via the “Transaction History” page. However, deposits to expired addresses will not be automatically credited.
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