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Sunday, July 14, 2024

Major Binance Announcement Related to This Popular Shiba Inu (SHIB) Rival

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  • Binance adds 17 altcoins as new loanable assets, offering users greater flexibility and the potential for Real-Time APR rewards through its Binance Loans (Flexible Rate) product.
  • The exchange will also delist certain cryptocurrencies, reflecting its ongoing commitment to high standards and operational adjustments in response to network demands.

The world’s largest cryptocurrency exchange continues with the amendments to its platform to provide a better user experience.

Most recently, it added the popular meme coin Floki Inu (FLOKI) and 16 other altcoins as new loanable assets on Binance Loans. Some of those include Algorand (ALGO), ApeCoin (APE), Maker (MKR), Stacks (STX), Neo (NEO), and more.

Binance Loans (Flexible Rate) is a product that enables users to complete loan orders while collateralizing cryptocurrencies in existing Simple Earn Flexible Products subscriptions.

“Users may enjoy greater flexibility without committing to a specific loan term when borrowing cryptocurrencies on Binance Loans (Flexible Rate) and earn Real-Time APR rewards via Simple Earn Flexible Products at the same time. Loan rates are refreshed every minute, and users may place a loan order with a minimum of 1 USDT equivalent,” the firm explains.

Binance also increased the number of trading pairs offered on Binance Spot by adding AAVE/TRY, ARKM/FDUSD, CRV/TRY, FET/BRL, RAY/FDUSD, and RNDR/EUR. These will be available to users from March 21.

The company launched a delisting effort, too, saying it will terminate services with DREP (DREP), Mobilecoin (MOB), and pNetwork (PNT) on April 3. It did not provide an exact reason behind its decision, reminding that it conducts periodic reviews on all digital assets and removes some when not meeting “a high level of standard and industry requirements.”

Earlier this month, Binance embraced PEPE/FDUSD, UNI/FDUSD, OM/TRY, PIXEL/USDC, STRK/USDC, and THETA/TRY and temporarily halted Solana (SOL) withdrawals due to “the increased volume of transactions on the network.” The service was supposed to be restored by March 9.

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