Binance's Adjustments Impact Altcoin Traders: Here's How

Binance, the world's largest cryptocurrency exchange, has expanded its VIP Loan offerings with more tokens including Newton Protocol (NEWT) and Sahara AI (SAHARA). This service allows high-tier users to borrow large sums of crypto using their existing tokens as collateral.

However, these new tokens experienced a decrease in value, with NEWT dropping by 7% and SAHARA by 11%, contrary to the usual positive effect Binance support tends to have on cryptocurrencies. Additionally, Binance plans to remove several trading pairs on July 4, which has already led to price drops and reduced liquidity for the affected cryptocurrencies. The company has advised users to update or cancel their Spot Trading Bots to avoid potential losses.