Binance Crypto Exchange Launches Margin Trading While Bitcoin Price Surpasses $12,500

😱♻Changpeng Zhao rolls out Binance 2.0 upgrade and announces margin trade open for everyone📣🕴

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Earlier on June 26, the chief of Binance, CZ, posted a series of tweets saying that Binance 2.0 version of the platform has been live now with margin trading open to all participants and that Binance 1.0 will be decommissioned soon due to ‘legacy performance bottlenecks’.

Bitcoin surges to over $12,500, CZ: ‘Bad idea to short BTC’

On Wednesday morning, the price of the major cryptocurrency broke through the $12,000 mark, reaching a new high of $12,565 as per CoinMarketCap

Bitcoin surges to over $12,500, CZ: ‘Bad idea to short BTC’

This coincided with the Binance platform rolling out a new version of the exchange with margin trade open on it.

 Binance platform rolling

Binance 2.0 now enables investors to short or long such crypto assets as: ETH, BTC, XRP, BNB and TRX. More coins are expected to be added soon.

Binance has already been experimenting with margin trading earlier and conducted its first margin liquidation (a short position) a few days ago.

Binance joins the trend

Earlier, it became known through Twitter that Bitfinex exchange had also began to offer margin trade for its customers.

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Yuri Molchan

Yuri entered the crypto sphere at the BTC price peak in 2017, quickly turning into a crypto enthusiast. He has written for several media, covering everything from TA to ICOs and crypto regulations. Presently is a news writer, working with crypto and blockchain-related topics.