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Binance Futures increases maximum leverage on XTZ/USDT

Image by Binance from Twitter

Wed, 18 Mar 2020, 00:43 am UTC

Binance Futures announced that it has increased the maximum leverage on the Tezos (XTZ) and Tether (USDT) trading pair.

“Binance Futures has increased the maximum leverage on the XTZ/USDT perpetual contract to 75x. Users can now select any leverage between 1x and 75x” Binance wrote.

Crypto exchange Binance also announced the news on Twitter and it received mixed reactions from online users. Some supported it while others criticized the move.

#Binance Futures Increases Maximum Leverage on $XTZ/USDT Contract to 75xhttps://t.co/9LhHdCtRag pic.twitter.com/f5YMiuo1tU

— Binance (@binance) March 16, 2020

@cz_binance disregard the haters. We were supporters of the first hour and will always have your back,” one online user commented. https://twitter.com/bit_anal/status/1239477283993407488.

“Now looking to liquidate XTC traders and destroy that market as well - nice going!” another user commented. https://twitter.com/CryptoMiner01/status/1239485091593641984.

“march month i am very very sad upset,” another netizen opined. https://twitter.com/Qamarsh72617721/status/1239465551031939073.

Binance warns users that futures trading is a highly risky endeavor with a potential for both great profits and significant losses. The exchange also reminds its users in the event of extreme price movement, there are chances that all of their margin balance in the future wallets may be liquidated.

Just recently, Binance doubled the fees for Ether (ETH) withdrawals and crypto traders were not happy. In its announcement, the exchange explained that it would make temporary adjustments by making ETH withdrawal from 0.003 ETH to 0.006 ETH to better facilitate ERC20 and ETH withdrawals during the period of high congestion.

The move was criticized by crypto traders with some calling the exchange “scam” and “robber.” Another accused the exchange of being greedy.

In related news, Binance.Us has listed XTZ in its platform. Following the listing, crypto traders can start XTZ/USD and XTX/BUSD trading pairs. Users can also start depositing USD, BUSD, or XTZ to their wallets as they prepare for the trading to go live. XTZ tokens are temporarily available for deposit only because withdrawals will not be enabled until the trading is live.

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