FLOKI

when

DOGS

<ul>
 <li>Binance increases FLOKI collateral requirement from 35% to 40% effective Sept 3, 2024.</li>  
 <li>TON and DOGS collateral ratios jump to 30%, up from 20% and 10% respectively.</li>  
 <li>New Binance collateral adjustments impact uniMMR, vital for managing portfolio risk.</li> 
</ul>  
<p>According to an official <a href="https://www.binance.com/en/support/announcement/binance-will-update-the-collateral-ratio-of-multiple-assets-under-portfolio-margin-2024-09-03-b9fad723c9c64240801d0e11dd77faa8" target="_blank" rel="noopener noreferrer nofollow">announcement</a> from Binance, one of the world’s largest digital asset exchange platforms, the Portfolio Margin mode for several altcoins has been adjusted. These modifications are to embrace meme coins and other virtual currencies to initiate the modifications on September 3, 2024, at 6:00 UTC.</p>  
<h2 class="wp-block-heading" id="h-specific-adjustments-to-collateral-ratios">Specific Adjustments to Collateral Ratios</h2>  
<p>The collateral ratio—the percentage of an asset that must back a loan or margin position—will rise for various cryptocurrencies. For example, the need for collateral when using Floki Inu (FLOKI) will increase from 35% to 40%.&nbsp;</p>  
<p>Similarly, TON (Toncoin) and the new meme coin DOGS will adjust their ratio from the current 20% and 10% to 30%. Other tokens include RENDER, SUN, RARE, and ADX, all of which will have an increment of 30%, except for ADX, which increases to 20%.</p>  
<h2 class="wp-block-heading" id="h-traders-collateral-ratio-changes">Traders' Collateral Ratio Changes</h2>  
<p>The variation in the collateral ratio will directly affect uniMMR, a critical indicator for traders to manage portfolio risk. Binance advised its users to pay close attention to uniMMR and prevent eventual liquidation or loss due to these new ratios. This means traders must adapt their strategies according to the new requirements.</p>  
<p>The collateral ratio is important in the cryptocurrency trading sphere. It ensures that lenders can recover loans even if market conditions turn sour. With these ratio adjustments, Binance gives its users an added layer of security and stability in the <a href="https://cryptonewsland.com/ethereum-faces-sell-off-fears-as-whale-moves-90k-eth-to-binance/" target="_blank" rel="noopener noreferrer nofollow">trading</a> environment, in line with market dynamics and increasing asset volatility.</p>  
<h2 class="wp-block-heading" id="h-recent-developments-and-market-response">Recent Developments and Market Response</h2>  
<p>Over the past month, Binance has added more offerings, mostly in the meme coin niche. By introducing new trading pairs like BONK/BRL and including trading bot services for DOGS-related pairs, Binance has made a significant move. The change is part of a broader project to diversify services and cater to the varied interests of its global customer base.</p>  
<p>Listing <a href="https://cryptonewsland.com/meme-coins-set-to-soar-dogecoin-shiba-inu-pepe-bonk-and-floki-on-the-rise/" target="_blank" rel="noopener noreferrer nofollow">meme coins</a> like DOGS on Binance has become a big deal within the wider crypto community. Released at the end of August, DOGS immediately grew to an $800 million capitalization, although the market cooled down.&nbsp;</p>  
<p>Such fluctuations underline the volatile nature of meme coins and the entire digital assets market. Traders and investors observe these processes, adjusting strategies to adapt to the unpredictable dynamics of asset prices.</p> 
<p>The post <a href="https://cryptonewsland.com/binance-increases-collateral-ratios-for-altcoins-including-meme-coins/" rel="noopener noreferrer nofollow">Binance Increases Collateral Ratios for Altcoins Including Meme Coins</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Binance Increases Collateral Ratios for Altcoins Including Meme Coins

Table of Contents

Crypto News Land

Other articles published on Sep 2, 2024

Crypto: 9 Days Of Decline For Solana, Heading Towards A Rebound Or A New Plunge?

Donald Trump Announces New Crypto Project "The DeFiant Ones," Aims to Serve Unbanked Communities

WazirX Legal Advisor Warns of Slim Chances for Full Recovery of Hacked Customer Assets

What is Story Protocol?

Shiba Inu Community Takes the Lead: Crucial DAO Proposal on the Horizon

Amazon to Launch Enhanced Alexa Experience with Anthropic’s AI

Join our free newsletter for daily crypto updates!