BingX Unveils Enhancements in Coin-margined Futures Trading
I’m very excited to announce significant upgrades to BingX’s Coin-margined Futures Trading, reinforcing our commitment to empowering users with a more comprehensive and user-friendly trading experience. These enhancements include the introduction of the Isolated Margin Mode and Trigger Order features.
Isolated Margin Mode: Mitigating Risk with Precision
The Isolated Margin Mode is a pivotal addition aimed at enhancing risk management for crypto traders. In this mode, the margin allocated to a specific position is isolated, meaning that the margin for each position is used exclusively for that position. This isolation allows traders to limit the margin quantity for individual positions, thereby reducing overall risk exposure.
In the event of forced liquidation, traders will only lose the margin within that specific position, protecting their remaining assets. It helps control liquidation risks by adjusting the margin within the Isolated Margin Mode, with the system automatically displaying the maximum additional/reducible margin and the estimated liquidation price.
Trigger Order: Planning Ahead for Optimal Trading Outcomes
The introduction of the Trigger Order feature empowers crypto traders to pre-set their trading strategies without the need for constant market monitoring. A Trigger Order allows users to set a trigger price, order price, and quantity in advance. Once the market price reaches the trigger price, the system automatically places the order at the pre-set price and quantity.
This feature is designed to help achieve profit targets and stop-loss goals automatically, enhancing the ability to manage trades effectively and without continuous oversight. By planning trade points ahead of time, users can execute strategies seamlessly and maximize their trading efficiency.
Enhancing the Futures Trading Experience
These updates mark a significant step forward in BingX’s ongoing mission to perfect its futures trading offerings. The latest upgrades in Coin-margined Futures Trading are designed to provide users with greater control, precision, and flexibility. BingX is committed to continuously enhancing the platform to meet traders’ evolving needs, ensuring they have the best tools at their disposal to succeed in the dynamic world of cryptocurrency trading.
Ethereum’s Price Target Moves Up
The focus this week is on Ethereum and its price target. Last week, VanEck analysts have raised their 2030 price prediction for Ethereum to $22,000, this comes after the spot ETH ETF approval by the SEC. This makes Ethereum favorable in the medium to long term since investors have paid higher prices for it, and the sentiment is positive for the greater adoption of the ecosystem. This week’s key is to keep an eye on whether the $4,000 threshold can be broken and maintained following Friday’s sharp drop.
On the contrary, Bitcoin’s price has risen 54% to about $71,000 from roughly $46,000 since spot bitcoin ETFs began trading in January. Skepticism exists about whether Bitcoin will continue to gain strength or face a price correction ahead of a rally. Bitcoin’s price action can generally be traced to greater global micro and macroeconomic events, leaving it in in the wake of those events and decisions. Bitcoin on-chain volume is the source of intrigue this month as “older” coins return to circulation — in their thousands. The on-chain analytics platform CryptoQuant’s spent output age bands metric shows that on June 2nd alone, 2,800 BTC moved on-chain for the first time in between two and three years. This metric, when in increased quantities, is typically indicative of a bull market.
Solana is another currency to keep an eye on this week as it has experienced an increase in activity from altcoin trading. Having risen about 18% on the month, Solana is unique in nature due to its ability to process a substantial amount of transactions while remaining affordable to use. This creates the perfect environment for altcoin trading to thrive. Solana is not just being looked at by the likes of traders, though. Speculation is rising around if Solana could emerge as a leading blockchain for payment institutions. This question was sparked on May 28, when PayPal expanded its PayPal USD (PYUSD) stablecoin to the Solana network.
About Me
I’m very excited to share my interview with Cointelegraph. From social trading to comprehensive educational resources, BingX aims to make crypto trading accessible and secure for everyone. Read more about that here.
Check out the exclusive Coingape interview and gain insights into the strategic partnerships driving BingX’s growth and impact in the crypto space.
Check out my commentary on the impacts of the Bitcoin halving with Coinpost here.
Interview with Yurufuwa at TOKEN2049.
I had a fantastic chat with WU Blockchain about BRC20, BingX’s strategy in 2024, and my professional background. Check out the article linked here!
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