Binance Expands Innovation Zone with Pendle Yield-Trading Protocol
Binance, the global cryptocurrency exchange, has added Pendle (PENDLE), a cutting-edge yield-trading protocol, to its Innovation Zone. Here are the key points:
- Binance has introduced spot trading pairs for PENDLE, including PENDLE/BTC, PENDLE/USDT, and PENDLE/TUSD.
- Users wasted no time in depositing PENDLE in anticipation of its introduction.
- Withdrawals for PENDLE will commence on July 4, 2023.
- There was no listing fee charged for PENDLE, making it more accessible.
- A zero maker fee is applicable for the PENDLE/TUSD trading pair until an undisclosed future date.
What is Pendle?
Pendle is an innovative yield-trading protocol that separates a yield-bearing asset into principal and yield segments, giving users flexibility in earning yields. The PENDLE utility token incentivizes liquidity, enables governance, and accrues fee value.
PENDLE’s Impressive Market Performance
PENDLE has shown significant growth since its listing in the Binance Innovation Zone, with a 17% increase in the past 24 hours and a 48% surge in the past week. It currently trades at $1.10.
Note for Investors
Trading in the Innovation Zone carries risks due to the higher volatility of newly listed tokens. Investors should approach such tokens with caution and conduct thorough research.
Hot Take: PENDLE Holds Promise for Traders
Binance’s addition of the Pendle yield-trading protocol to its Innovation Zone has generated excitement among users. With its unique approach to yield trading and impressive market performance, PENDLE holds promise as a valuable asset for traders seeking lucrative opportunities in the cryptocurrency market.
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