Binance Introduces New Tether Earning Program
If you’re looking to maximize your cryptocurrency investment, Binance has just launched a new earning program that offers up to a 13% annual percentage yield (APY) for USDT. This limited-time promotion is available from November 7 to November 13, 2023, giving you the opportunity to earn attractive rewards on your stablecoin holdings.
The exchange announced the new program on Twitter, highlighting the real-time APR and the seamless accumulation of rewards in your Earn wallet every minute. This move by Binance follows a trend in the crypto industry, where various platforms are offering yield services for stablecoin assets like USDT and USDC.
Other platforms such as Nexo, Youhodler, and Crypto.com have also been offering competitive APY rates for USDT holdings, with Nexo leading the pack at 16% APY. In addition to this latest USDT earn program, Binance has recently introduced rewards for locked TAI and DAI on their Simple Earn platform.
Stablecoins in High Demand
Stablecoins like USDT and USDC have been gaining popularity due to their stability and better yield opportunities compared to traditional cryptocurrencies like bitcoin or ethereum. This has led to an increase in demand for these stable assets across various platforms and exchanges.
Binance’s Growing Portfolio
At the current cryptocurrency exchange rates, Binance’s total value including its Earn service, crypto exchange, and wallets stands at approximately $63.71 billion. USDT makes up nearly 28% of Binance’s portfolio, amounting to around $17.75 billion of the leading stablecoin. This positions Binance as a significant player in the stablecoin market, holding about 20.70% of the entire supply of tether in circulation.
Hot Take
Seize the Opportunity: Earn Up to 13% APY with Binance’s New USDT Program
If you’re eager to grow your crypto holdings, now is the time to take advantage of Binance’s latest offering. With potential rewards of up to 13% APY on your USDT investment, this limited-time program presents a compelling opportunity for savvy investors looking to maximize their returns in the crypto market.
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