NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Following BitMEX’s Footsteps? Programmer Reveals Margin Trading Code In Binance’s Bitcoin Pairs

Nick Chong
Nick Chong
6 years ago
4 mins read
bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

While cryptocurrencies have fallen dramatically over the course of yesteryear, volatility has plummeted. Per data gathered by BitVol, an analytics provider, the Bitcoin-to-USD 30-day volatility has fallen from 7.5% at BTC’s $20,000 peak to 2.6% today. It’s a similar sight for Litecoin, Ethereum, and an array of other liquid crypto markets.

Thus, many traders looking to turn a quick buck have turned to margin trading, as they intend to emulate the risk-return potential they took on in late-2017.

BitMEX’s Stellar Year

This shift in trading habitudes, which has led many speculators to utilize 10x leverage on their trades, has allowed margin-enabled exchanges like BitMEX to bolster its clientele, rake in billions, and outperform their spot-only counterparts by many a magnitude over 2018.

Tom Lee of Fundstrat estimated in a keynote that the exchange raked in $1.2 billion in fiscal 2018, making the crypto exchange more profitable than Hong Kong Exchanges & Clearing and Nasdaq, even while Bitcoin is just a decade-old creation.

Lee isn’t fully speculating either. On multiple days throughout 2018, BitMEX posted upwards of 1,000,000 Bitcoin worth of nominal trading volume, securing dozens of millions in trading fees in the process.

This stellar performance and record-setting volumes have been reflected in the growth of BitMEX’s insurance fund, which has swelled from 2,720 BTC at 2018’s start to 22,260 BTC today, and the establishment of a Hong Kong office in the city’s most lavish downtown tower.

Related Reading: BitMEX Rents World’s Most Expensive Skyscraper, Rising Status of Crypto Exchanges

Rumor has it that BitMEX’s hegemony over the margin space could be coming to an end though, as Binance has begun to look into stealing some of Arthur Hayes’ rapidly-growing cake.

Binance API Suggests Bitcoin, Ethereum Margin Support

When Binance launched in 2017, it promised its ICO investors a stellar platform that would support everything under the sun. Although the Malta-delivered startup has delivered on much of its original promises, the company’s whitepaper mentioned “margin trading” as a part of its “feature rollout.” Yet, Binance has kept its mouth shut on the subject matter for upwards of a year, in spite of margin being clearly listed as being on the exchange’s radar.

But, this is changing. A self-proclaimed programmer recently took to Reddit to reveal that there’s a high likelihood that he found margin trading-related code in Binance’s public API. The user, going by the moniker “enriquejr99,” noted that Binance has “silently included” two booleans that are as follows: isSpotTradingAllowed and isMarginTradingAllowed. These two lines of code were first spotted in Binance’s Ethereum-Bitcoin pair.

Enrique added that upon further analysis of Binance’s 482 trading pairs, he discovered that margin trading was mentioned, but is currently disabled.

It isn’t clear when the booleans were added, but the exchange’s recent multi-hour downtime could be when Binance’s developers quietly added that in, as the company could very well be readying up to give its millions of users access to leverage. The details of this purported project are, of course, scant. But initial margin support for popular cryptocurrencies, such as Bitcoin and Ethereum, would make sense.

Excelling Amid Crypto Winter

All this only underscores Binance’s propensity to excel amid harrowing market conditions. The platform, headed by its fervent leader in Changpeng “CZ” Zhao, has arguably staved off the so-called “crypto winter” entirely through embarking on a number of ventures.

On Tuesday, the company unveiled what is known as Binance Lite, a service allowing Aussies to purchase Bitcoin and brick and mortar stores. Lite purportedly gives locals an “easy way” to buy BTC at over 1,300 shops across Australia, making this Binance’s most recent take on cash-to-crypto on-ramps. In related news, CZ has hinted that his company intends to offer a fiat on-ramp in now-blockchain-friendly Argentina, which would follow similar platforms in Singapore, Lichenstein, Jersey, and Uganda.

But this is just the tip of the iceberg. Over recent months, Binance has embarked on a journey to launch its own blockchain, which would house a decentralized exchange (DEX) to directly compliment Binance.com. For those who missed the memo, Chain will utilize a Delegated Proof of Stake (DPOS) consensus mechanism, while Binance’s BNB  token will act as the network’s gas, just as ETH is for Ethereum.

In a Twitter Q&A session, Binance’s CZ even commented that due to the barebones nature of Binance Chain —  lack of a virtual machine means no smart contracts — the network should be able to generate one-second blocks, each of which pertains to “a couple thousand” transactions. Although some have bashed Binance for trying to compete with itself, Zhao made it clear that DEXs is the next step in the evolution in the cryptocurrency market.

The company’s ability to put its best foot forward has allowed its in-house token, BNB, to swell from $5 in mid-December to $15 where it sits now, giving investors a silver lining in this bear market.

Featured Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Golden Cross Incoming, But Tensions Threaten Breakout

Bitcoin is still trying to regain short-term bullish momentum, as shown by its price action in the past 24 hours....

Scott Matherson 6 hours ago
Bitcoin

Bitcoin 656% Cyclical Gain Highlights Deep Market Demand – Glassnode

The Bitcoin market continues to react negatively to rising geopolitical tensions between Israel and Iran which has induced a wave...

Semilore Faleti 8 hours ago
Bitcoin

Bitcoin Investors Remain Calm Despite Israel-Iran Conflict Escalation

The price of Bitcoin has managed to stay afloat over the past few days despite the growing conflict in the...

Opeyemi Sule 9 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Amid Bitcoin Hype, Seasoned Trader Predicts Sudden Drop To This Level

Christian Encila 2 hours ago
XRP

If Patience Had Value, XRP Holders Would Own The Market—Expert

Christian Encila 5 hours ago

Solaxy Presale Burns Red Hot as Whales Snatch $495K in Two Days: Best Presale Ends Tomorrow

Aaron Walker 5 hours ago

Premium Sponsors

Top Brands

Press Releases

  • アルトコイン急騰前に注目すべきアナリスト推奨の3銘柄

    ...

    6 hours ago
  • ミームコイン注目のプリセール|取引ボットで100万ドル達成、熱狂的トレーダーが殺到

    ...

    7 hours ago
  • Solaxyに注目集まる仮想通貨プレセール、クジラが2日で約50万ドルを投資

    ...

    8 hours ago
  • 仮想通貨おすすめ|今注目の5銘柄で大きな利益を狙う

    ...

    9 hours ago
  • 新しい仮想通貨が約5,000万ドル調達目前|ホエール投資家が9万ドルを購入

    ...

    9 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.