Binance Adds New Altcoins as Loanable Assets
The world’s largest cryptocurrency exchange, Binance, has made updates to its platform to enhance the user experience. As part of these updates, Binance has added 17 altcoins as new loanable assets on Binance Loans. This move provides users with greater flexibility and the potential to earn Real-Time APR rewards through the Binance Loans (Flexible Rate) product.
Greater Flexibility and Real-Time APR Rewards
- Binance has added 17 altcoins as new loanable assets on Binance Loans.
- Users can enjoy greater flexibility without committing to a specific loan term when borrowing cryptocurrencies.
- Earn Real-Time APR rewards via Simple Earn Flexible Products while borrowing on Binance Loans.
- Loan rates are refreshed every minute, and users can place a loan order with a minimum of 1 USDT equivalent.
Binance Loans (Flexible Rate) is a product that allows users to complete loan orders by collateralizing cryptocurrencies in existing Simple Earn Flexible Products subscriptions. This feature provides users with increased flexibility and the opportunity to earn rewards simultaneously.
Delisting Certain Cryptocurrencies
In addition to adding new loanable assets, Binance has announced that it will delist certain cryptocurrencies from its platform. This decision reflects the company’s commitment to maintaining high standards and making operational adjustments based on network demands.
Cryptocurrencies Being Delisted
- DREP (DREP)
- Mobilecoin (MOB)
- pNetwork (PNT)
The delisting of these cryptocurrencies will take effect on April 3. While Binance did not provide an exact reason for this decision, it stated that it conducts periodic reviews on all digital assets and removes those that do not meet its high level of standards and industry requirements.
Increased Trading Pairs on Binance Spot
Binance has also expanded the number of trading pairs available on its Binance Spot platform. This update aims to provide users with more options and opportunities for trading.
New Trading Pairs on Binance Spot
- AAVE/TRY
- ARKM/FDUSD
- CRV/TRY
- FET/BRL
- RAY/FDUSD
- RNDR/EUR
These new trading pairs will be available to users starting from March 21. By increasing the variety of trading pairs, Binance aims to cater to the diverse needs and preferences of its user base.
Previous Updates on Binance Platform
Binance has been actively making updates to its platform in recent weeks. Earlier this month, the exchange added PEPE/FDUSD, UNI/FDUSD, OM/TRY, PIXEL/USDC, STRK/USDC, and THETA/TRY as trading pairs. Additionally, Binance temporarily halted Solana (SOL) withdrawals due to the increased volume of transactions on the network. The service was expected to be restored by March 9.
Hot Take: Continual Improvement for a Better User Experience
Binance’s recent updates, including the addition of new loanable assets and increased trading pairs, demonstrate the exchange’s commitment to providing a better user experience. By offering greater flexibility and rewards through Binance Loans, users can take advantage of more opportunities in the crypto market. Additionally, delisting certain cryptocurrencies ensures that Binance maintains high standards and meets industry requirements. These updates contribute to Binance’s mission of continual improvement and innovation in the cryptocurrency space.
Sources: Binance, Binance, Binance, Cryptopotato, Cryptopotato
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