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Binance, the world’s largest cryptocurrency exchange, has expanded access to its Portfolio Margin previously reserved for VIP users and now available to non-VIP traders with a minimum balance of 100,000 USDT in their cross margin and futures wallets, according to the information shared with Finbold on April 3. This move is set to bolster capital efficiency and give new opportunities to users with complex trading strategies who may not qualify for VIP status.  In addition to the expansion, Binance has also introduced a new Portfolio Margin wallet, which streamlines management by consolidating USDⓈ-M Futures, COIN-M Futures, and Cross Margin wallets into one. Picks for you Is it too late to invest in DOGE? 1 hour ago Here’s how much Bitcoin the U.S. government holds 2 hours ago Is Andrew Tate preparing a multi-million dollar Bitcoin bet? 2 hours ago US economist slams Bitcoin as ‘fake asset’ despite 50% rise in 2024 3 hours ago Binance’s...

An unprecedented number of BTC margin longs recently closed at Bitfinex, leaving analysts searching for explanations. Since May 2022, the Bitcoin (BTC) margin markets on the Bitfinex exchange have been plagued by an unusually high open interest of over $2.7 billion. This information alone should raise a red flag, especially in light of Bitcoin's price decline from $39,000 to less than $25,000 during the same period. Traders seeking to leverage their cryptocurrency position had borrowed over 105,000 Bitcoin. Currently, the cause of this anomaly is unknown, as well as the number of entities involved in the trade. Cheap borrowing favors high demand Bitfinex's sub-0.1% annual rate may be a contributing factor to the size of the Bitcoin lending market. To date, this has been the norm and it creates enormous incentives for borrowing, even if there is no current need. There are few traders who would turn down such a ridiculously inexpensive leverage opportunity. Margin borrowing can...