Binance Offers Dash (DASH), ZCash (ZEC) Margin Trading
Binance expands its margin trading program, as altcoins show signs of recovery.
Binance will open margin trading for Dash (DASH) and ZCash (ZEC), based on adequate liquidity and demand. The news arrives just days after Binance opened margin trading pairs for Cosmos (ATOM).
Along with the margin pairs, Binance has added DASH, ZEC, and Monero (XMR) to its lending program.
The coins were offered as a special edition in lending. Binance is still filling up its lending mechanisms, with so far only a limited selection of coins locked for rewards.
The offering of the two coins is significant, given that most exchanges have given up on DASH and ZEC, due to their anonymous networks. In the case of DASH, the anonymous features are optional, leading to more widespread listings. This may be one of the reasons why DASH will be available on Binance.US, while ZEC is, for now, limited to the international market.
With the latest additions, Binance now offers 21 margin trading pairs for some of the most liquid coins. Margin trading allows the taking of a larger position, potentially leading to higher gains, but also deeper losses.
The new additions arrive at a time when altcoins are showing significant signs of recovery. DASH traded at $95.87, while ZEC gained 13% in the past week to $51.09. Both assets are still quite far from their four-digit price peaks, and have shown significant volatility.
Binance trading is also indicating a revival of altcoins, with those in pairs with BTC showing increased strength:
Both the Dash and ZCash projects are one of the most public in the crypto space, with structures and rules to secure continuous development and adoption. DASH is targeted toward small-scale users, while ZEC is being offered to large-scale clients. The ZCash project has faced criticism due to the regular cuts off the mining rewards that go to the developers’ team. The ZCash team seeks further community rewards, as the founders’ reward program is about to expire.