Binance Adds Margin Trading For BAT; Token Price Boost up by 6.35%

Published October 22, 2019 | Updated October 22, 2019

Binance
Binance

Binance Adds Margin Trading For BAT; Token Price Boost up by 6.35%

Leading crypto exchange, Binance has added Margin trading for Basic Attention (BAT) token. The news was made public with an official announcement Tuesday morning in which the popular cryptocurrency exchange disclosed that its margin trading platform had added support for BAT for both margin trading and as a borrowable asset.

Binance Adds Support For BAT, Token Gets A Price Boost

The official announcement about BAT margin support also added inclusions of corresponding trading pairs like BAT/BTC and BAT/USDT on the margin trading platform that would be available to users.

Basic Attention Token has reacted, in terms of price movement, to the development positively. Within the last 24 hours, the cryptocurrency gained about 4% with over two third of the percentage gain happening within a couple of hours of the official announcement.

bat
Bat 24 hr Price chart | Source: coinstats

Binance.US Adds Support For IOTA And BUSD

Among other project developments, Binance.US also announced that it is adding support for IOTA and the newly introduced Binance USD (BUSD). According to the official announcement, the support would take effect on the 22nd of October, 2019 at 9:00 pm EST with new corresponding trading pairs like BUSD/USD, BTC/BUSD and IOTA/USD.

The announcement also said that no withdrawals of IOTA or BUSD would be possible until trading activities go live, however, traders were permitted to start depositing their assets in preparation for trading.

Ongoing Developments At Binance

When it comes to new developments, partnerships and integrations, Binance is among the front-runners in the crypto industry. Apart from support for new tokens, Binance announced that it is entering into a partnership with Kakao’s Klaytn. This partnership, according to the official announcement that went live on Tuesday morning, allows Binance to join the Klaytn Governance Council to partake in the platform’s blockchain operations to initiate further developments in bringing mass blockchain adoption globally.

Binance partners with Klaytn
Binance partners with Klaytn

According to Jason Han, CEO of Ground X, which is responsible for developing the Klaytn platform,

We are excited to welcome the world’s leading exchange Binance to our Governance Council,” “We look forward to further strengthening the Governance Council as we continue to invite leading companies in various industry domains to join, and together with our Council members, we will work towards driving mainstream adoption of blockchain.”

Klaytn is an international public blockchain platform that was developed by Ground X, the blockchain arm of the renowned South Korean Internet company, Kakao. Klaytn is a blockchain platform which is service-centered and provides an innovative development atmosphere and friendly end-user experience.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development. You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com
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Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development. You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com
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