Trading Update Affects Six Altcoins, Including Peanut the Squirrel (PNUT), Meme Coins

Important Binance Trading Update Concerning Peanut the Squirrel (PNUT) and Other Meme Coins: Details

Binance has announced a crucial trading update, affecting six altcoins, including the meme coin sensation Peanut the Squirrel (PNUT). The exchange will increase collateral ratios for these assets starting December 17, in an effort to enhance liquidity and protect traders’ funds.

The revised collateral ratios will impact Peanut the Squirrel (PNUT) and other meme coins, such as 1MBABYDOGE, Eigenlayer, Reserve Rights, Movement, and Magic Eden. Each of these tokens will see their collateral ratio raised by a staggering 10%. For PNUT specifically, this means that the current ratio of 35% will increase to 45%.

The exchange has emphasized the importance of users closely monitoring the Unified Maintenance Margin Ratio (uniMMR) following the update. This change may result in potential liquidation or losses for traders who do not take heed of these changes.

Binance initially listed PNUT with a seed tag, which sparked a massive price surge and fueled widespread interest. The exchange doubled down on its support by adding trading pairs PNUT/BRL and PNUT/EUR to its Binance Spot program.

Peanut the Squirrel gained significant traction after Elon Musk publicly condemned the euthanization of the squirrel, calling it an example of government overreach. This sparked widespread outrage, and as a result, the meme coin saw unprecedented growth.

Source: cryptopotato.com