Bitcoin Briefly Test $9,000 as Binance Reportedly Launches Margin Trading

News and Analysis

Following the recent surge past the $8,500 mark, on Thursday, May 30, Bitcoin has hit another milestone for the year, surging past $9,000 on Bitstamp and other major exchanges.

With this important barrier now conquered, Bitcoin five-figure prices could be just around the corner, however, the momentum was somewhat short-lived as the digital gold has since dropped below the $8,700.

These developments coincided with yet unconfirmed reports that Binance, the largest cryptocurrency exchange by trading volume, has launched margin trading.

While there is no official confirmation neither on Binance web-site, nor in the exchange’s social media channels, reports in crypto publications claim that the margin option is available by clicking the “M” icon at the top-right corner of the trading screen. With it, users can easily leverage 2x on Binance Coin (BNB), Bitcoin (BTC), Ethereum (ETH), Tron (TRX), and Ripple (XRP).

Binance has been hinting that it would release margin trading on its exchange for a long time, however, with no clear date on when the option would be available.

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