Important Update: Binance Lists These 9 Cryptocurrencies But There’s a Catch

TL;DR

• Binance added new fan tokens and cryptocurrencies to its margin trading program.
• These assets experienced significant price declines amid a broader crypto market downturn.

The world’s leading cryptocurrency exchange – Binance – added FC Barcelona Fan Token (BAR), Manchester City Fan Token (CITY), Paris Saint-Germain Fan Token (PSG), and others as borrowable assets on its Isolated Margin program.

All the newly included trading pairs in that section include ALPINE/USDT, BAR/USDT, CITY/USDT, ORDI/FDUSD, PSG/USDT, SUI/BTC, and XAI/FDUSD. The company also introduced PROS/USDT and WIN/USDT as new cross-margin pairs. 

Margin trading allows clients to access loaned funds for use in leveraged trades.

Despite Binance’s announcement, most involved cryptocurrencies have charted significant price declines in the past 24 hours. BAR and PSG have plunged 6%, while SUI and XAI have retraced by double digits (per CoinGecko’s data).

Their downfall could be attributed to the overall bearish condition of the crypto market that has reigned for the past week.