SHIB, SOL, LUNA Now Available for Margin Trading on Huobi
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The meme-coin, Shiba Inu, along with Solana and Terra, has been made available for margin trading on the Huobi trading platform. Shiba Inu seems to be recovering after a long downslide in the last few months, with several platforms offering to extend their support to the cryptocurrency. As for the other coins, it could well be an opportunity to hold their positions in the market.
What is Huobi, and Why Does it Matter?
Huobi is a pioneering platform for asset trading with its wings spread across world countries. The recent buzz is about the platform permitting the underdogs of the crypto world to be traded in margins. It even includes Shiba Inu, the meme-coin that made the headlines on the 21st of December for being accepted for trading on Kraken. Solana, which has been kept under the radar, despite its state-of-the-art technological infrastructure. And Terra, the growing stable coin platform from South Korea.
Given the significance of the volume and the customer base of Huobi, these coins could expect a turn of fortune. Particularly for the Shiba Inu coin future, considering the blow it received in the market in recent times.
The Maximum Leverage Allowed
However, the trading position seems to be kept cautiously at just 3x leverage on Huobi for these coins. This could be a result of the detrimental market changes that have been frying coins like Shiba Inu. But it is expected that leverages are likely to go up as the coins are expected to increase their market value. It may sound mysterious, but there is an increasing interest in particular coins in the market. Hence, the recent upcurrent in the market value of these coins.
The Modes of Margin Trading
The supported modes of trading for these coins include cross margin and isolated margin. Cross margin trading allows traders to derive margin from the available balance. Isolated trading, on the other hand, has fixed values for the collateral, and the users need to have a certain amount of funds for the individual account. However, only Solana is allowed to be traded in the latter mode currently.
Cryptocurrency
