Binance (BNB) Announces Three Major Updates: New Services Now Live!

  • Leading cryptocurrency exchange Binance has announced the full launch of its spot copy-trade feature.
  • The exchange has also introduced a funding rate arbitrage bot for Binance futures.
  • Binance CEO Richard Teng shared the exciting development with the community, while Binance made a significant announcement concerning BNB Beacon Chain users.

Binance, the world’s leading cryptocurrency exchange, has fully launched its spot copy-trade feature and introduced a funding rate arbitrage bot for Binance futures, offering users new opportunities for investment and trading.

Binance Launches Spot Copy-Trade

Following numerous requests from users, Binance has officially launched its spot copy-trade feature. This allows users to automatically copy the real-time spot trading strategies of experienced and talented investors, and to review performance metrics such as ROI and PnL for each investor’s portfolio. Additionally, leading investors can earn a 10% profit share from copy investors, as well as a 10% commission from copy investors’ transaction fees.

Introduction of Funding Rate Arbitrage Bot

Meanwhile, Binance has launched a funding rate arbitrage bot for Binance futures. This bot allows investors to open a position in perpetual futures and hedge it with a reverse position in the spot market of the same crypto, enabling the user to earn a funding fee. As part of the launch, Binance announced a special promotion program offering users the chance to win from a total prize pool of 50,000 USDT. The promotion period will be valid from May 15-29.

Announcement for BNB Beacon Chain Users

Binance has made a significant announcement concerning users of the BNB Beacon Chain (BEP2). As indicated by the project team in January 2024, the BNB Beacon Chain (BEP2) will be phased out in June 2024. The sunset plan is not an abrupt discontinuation, but a carefully planned transition process. In this context, the exchange announced that it will begin migrating assets from the BNB Beacon Chain (BNB) to the BNB Smart Chain (BSC) starting from May 15. The transition will continue over the next few weeks, with completion aimed at June 2024.

Conclusion

The introduction of the spot copy-trade feature and the funding rate arbitrage bot for Binance futures offers users new opportunities for investment and trading. The planned transition from the BNB Beacon Chain to the BNB Smart Chain is a significant development for users of these chains. These developments highlight Binance’s commitment to providing innovative and user-friendly services to its users.

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