The world's largest cryptocurrency exchange, Binance, announced that it has listed a new altcoin for margin trading.
In an official announcement made on May 15, Binance stated that Nexpace (NXPC), which opened on the new board today at 10:50 AM TRT, was listed as a borrowable asset for cross and isolated margin trading.
According to the announcement, Binance will offer NXPC investors the opportunity to engage in isolated and cross-margin trading in Tether (USDT) and USD Coin (USDC) pairs. With this listing, investors will now be able to use the NXPC/USDT and NXPC/USDC trading pairs in isolated and cross-margin trades.
However, Binance reminded users that newly listed assets may have high volatility and that they should pay attention to risk management. Binance also noted that it may make changes to margin rates, initial and maintenance margin requirements, and trading fees depending on market conditions.
According to CoinGecko data, NXPC, which started trading today, is experiencing a rise from the first day with listings from Binance and other exchanges. As of the time this news was written, NXPC has risen by 60.2% and is trading at $3.12.