- Binance users will soon start opening long and short positions on BTC price action.
- Bitcoin revamps the trend reclaiming $10,000 support; all eyes set on $11,000.
The world’s largest cryptocurrency exchange by adjusted trading volume Binance is soon going to introduce leverage trading for futures. The development was first mentioned by the CEO of Binance Changpeng Zhao while speaking at Asia Blockchain Summit on Tuesday, July 2. This feature will enable customers to either open long and short positions on the movement of Bitcoin price.
Read also: Cryptocurrency market update: market cap slides below $300 billion – Bitcoin, Ethereum and Ripple freefall
The introduction of leverage Bitcoin futures on Binance is seen as a game changer that could further propel the exchange to greater heights in comparison to its competitors. The 20x leverage will also allow users to maximize their profits. The news also comes a few weeks Binance announced plans to add margin trading.
In other relevant news, Bitcoin has reversed the trend following the drop below $10,000. At press time, BTC/USD is trading at $10,169. The recovery appears to be in full force, besides the bulls have their eyes set on $101,000. The entire market is also grinding upwards in tandem with Bitcoin price. We will continue to update the price action, especially for the major cryptocurrencies.
BTC/USD 15-mins chart
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