Recently, Binance announced on its Twitter page with a post that showed 2.0 graphic. There were no words with the post, just an image that was accompanied by a section of the logo of Binance. Now the question that many are asking is that precisely what does the graphics mean if it has any meaning at all.
— Binance (@binance) May 21, 2019
Signs of What to Come
If you will believe Filb Filb, Alex Kruger and others, the tweet is pointing to something stimulating. It is pointing to the likelihood that the company is going to release its margin trading soonest. This is an innovative graphical user interface and other packages that its subscribers have been eagerly expecting.
At this point, it becomes imperative to take a deeper look at the expectations for margin trading, which implies that the subscribers can make the best of their transactions. During a question and answer session after the notorious $40 million hacks, Binance’s representative Changpeng Zhao answered questions relating to the future. These questions sought answers regarding the plans of Binance for its long list of products.
In answering concerning the rumors disturbing those who want to buy Binance coin that the exchange wants to release margin trading for bitcoin and other well-known digital assets, an insider made a clarification. The clarification confirmed the fact that Binance truly had plans in place to release margin trading for real.
CZ went on to narrate that the engineers at Binance were already carrying out beta testing for the product. He also added that leverage support would also be made available to ‘large traders’ whom the exchange has dealt with. Therefore, in cases were bugs pop up, such bugs are going to be fixed. CZ believes that as soon as the hitches related to margin trading are sorted, the feature can be released to the customers of Binance in some selected areas, he also stated that the coding of the package is already complete.
This revelation that margin trading, which Binance first noted in its seminal publication, will be released in a matter of days after a Reddit user leaked the information of the ‘isMarginTradingAllowed’ Boolean in Binance’s API is possible in nine pairs. Some of these pairs include TRX-BTC, ETH-BTC, BTC-USDT, BNB-BTC, and others.
Even though this is not a specifically bullish move, experienced analyst Filb Filb announced to his followers on Telegram that this feature is precisely what is needed for a bull run. He made it clear that this new launch from Binance can positively influence Bitcoin and other cryptocurrencies sooner or later.
Even though some are absolutely cool with the Binance launching margin, because it can draw more investors to the trading platforms, others are not so sure it will have any positive impact. Prominent crypto researcher Willy Woo highlighted the fact that blockchain data reflects something else in the negative and that the optimism should be reconsidered. So in summary, there are two camps, there are those who believe it will be for the better while others believe it will lead to more complications.