Binance Expands Offerings with Thena (THE) on Multiple Platforms

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In a strategic move to broaden its cryptocurrency offerings, Binance has announced the integration of Thena (THE) across several of its platforms, including Binance Simple Earn, Buy Crypto, Convert, Margin, and Futures. This expansion is set to begin on November 27, 2024, according to Binance.

Thena (THE) Integration

Thena (THE) will be available for purchase via Binance’s Simple Earn and Auto-Invest services from November 28, 2024. Users can invest in THE using a variety of payment methods such as VISA, MasterCard, Google Pay, and Apple Pay. This integration is part of Binance’s ongoing effort to offer a diverse range of investment opportunities on its platform.

Trading and Conversion Options

Binance will enable THE trading against popular cryptocurrencies like Bitcoin (BTC) and Tether (USDT) on its Convert feature, allowing for zero-fee transactions shortly after THE is listed on Binance Spot. This move is likely to appeal to traders seeking cost-effective trading options.

Margin and Futures Trading

For more advanced traders, THE will be added to Binance’s Margin platform as a borrowable asset, with trading available in the THE/USDT pair. Furthermore, Binance Futures will launch the USDⓈ-M THE Perpetual Contract, offering up to 75x leverage starting November 27, 2024. The introduction of these features provides traders with additional flexibility and leverage options.

Market Impact and Risk Management

Binance has indicated that the THEUSDT Perpetual Contracts will have a maximum funding rate of +2.00% / -2.00%, with funding fee settlement occurring every four hours. The platform reserves the right to adjust contract specifications based on market conditions. Users are encouraged to review Binance’s Margin Data for updated information on marginable assets and trading limits.

For those interested in utilizing multiple assets for margin, Binance’s Multi-Assets Mode allows for cross-margin trading using various cryptocurrencies, providing an additional layer of risk management and trading strategy flexibility.

Conclusion

The addition of Thena (THE) across multiple Binance platforms signifies the exchange’s commitment to expanding its cryptocurrency offerings and providing users with comprehensive trading and investment options. As always, potential investors are advised to consider their financial situation and risk tolerance before engaging in trading activities. For more information, visit the Binance announcement.

Image source: Shutterstock

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