Binance Adds ERNs, STPTs and OGs to Full and Position Leverage

04/11/2023 08:05 • Daily Digest • 67 views

On April 11th, it was announced that Binance’s full position leverage added ERNs and STPTs, while the position by position leverage added OGs.

Binance added ERNs and STPTs for full position leverage, and added OGs for each position leverage

As of April 11th, the largest cryptocurrency exchange in the world by trading volume, Binance, announced the addition of ERNs, STPTs, and OGs to its full and position leverage. With the combination of these new assets, Binance has expanded its offering to its users, providing more opportunities for traders to take advantage of.

The Basics of Full and Position Leverage

Before jumping into the specifics of Binance’s latest addition, let’s briefly touch on the different types of leverage offered by the exchange. Full leverage is a trading method where the trader borrows the full amount of capital needed to execute the trade, while position leverage allows traders to borrow a portion of the funds needed to enter a specific position. Both allow for increased profits but also increase the potential losses. It’s essential to thoroughly understand the concept of leverage before participating in margin trading.

ERNs Added to Full Position Leverage

Ethernity Chain (ERN) is a blockchain platform that aims to establish a bridge between the cryptocurrency and NFT ecosystems. Binance’s decision to add ERN to its full position leverage is undoubtedly a move that will stir up interests within this particular market. The platform has seen a recent surge in popularity, with the ERN token’s value rising by over 200% in recent weeks.

STPTs Joining the Party

STP Network (STPT) is also a recent addition to Binance’s products, with the platform being only two years old. Like ERN, STPTs have seen significant growth in popularity recently, with a 60% rise in value over the last two weeks. The token’s value has mostly been affected by the network’s rapid adoption, which has been fuelled by its partnership with Phoenix Finance – one of China’s leading crypto wallets.

OGs Now Available for Position Leverage

Origo (OG) is another new addition to the Binance family, with the platform providing a privacy-based solution for dApps. OG’s adoption has been remarkable, with the token rising in value by over 50% in the last week alone. Binance’s decision to add OGs to its position by position leverage is undoubtedly a positive indication of the platform’s ability to attract strong market appeal.

Conclusion

In conclusion, Binance has once again demonstrated its commitment to the crypto community, with the addition of ERN, STPT, and OG to its leverage products. With these new asset additions, the platform has significantly expanded its offering to traders and investors, providing new opportunities for profit and growth. It’s essential to thoroughly research these assets before engaging in any margin trading to mitigate potential losses and maximize gains.

FAQs

Q: What is leverage trading?

A: It’s a trading method that allows traders to borrow funds exceeding their account balance to increase profit potential. However, it also increases the risk factor significantly.

Q: What is Ethernity Chain (ERN)?

A: Ethernity Chain is a blockchain platform that connects the cryptocurrency and NFT ecosystems.

Q: What is Origo (OG)?

A: Origo is a privacy-focused platform that provides dApps solutions.

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