Binance Slashes Leverage: U-Based Perpetual Contracts Face Changes

Binance, the world's largest cryptocurrency exchange, has announced an update to the leverage and margin tiers for several U-based perpetual contracts. The changes, set to take effect on February 28, 2025, at 17:30 (UTC+8), will impact existing user positions and may cause futures grid trading to expire. Users are advised to make necessary adjustments before the changes come into effect.

The affected contracts include TRUMP, IP, VIDT, COMBO, and NULS U perpetual contracts. The exact details of the leverage and margin level updates can be found in the official announcement. This move by Binance is part of its ongoing efforts to optimize its trading platform and provide a better trading experience for its users.

In other news, the U.S. pre-market saw a significant plunge, with seven tech giants losing over $500 billion in market capitalization. The crypto market also experienced a loss of over $100 billion. This decline can be attributed to a combination of factors, including geopolitical tensions, regulatory uncertainty, and market sentiment.

The crypto market has seen a surge in interest in high-yield crypto IDO platforms, with average returns on investment (ROI) reaching 400%. However, investors are advised to exercise caution and conduct thorough research before investing in any platform.

In the world of celebrity coins, a token check revealed that 15 tokens have seen a significant price drop of over 90% in just 60 days. This highlights the volatile nature of the crypto market and the importance of diversification in any investment portfolio.