- Binance, a leading cryptocurrency exchange, recently released a series of announcements summarizing updates related to borrowable assets, trading pairs, and Earn products.
- The exchange also made a delisting announcement, showcasing its commitment to maintaining market quality.
- Noteworthy updates include new borrowable assets, delisting of certain trading pairs, and the introduction of new trading pairs.
Discover the latest updates from Binance, including new borrowable assets, trading pairs, and Earn product enhancements, all aimed at providing greater flexibility and options for traders and investors.
Binance Introduces New Borrowable Assets
Binance users can now leverage their existing Simple Earn Flexible Product subscriptions as collateral to borrow Basic Attention Token (BAT), Loopring (LRC), Qtum (QTUM), SafePal (SFP), Tokocrypto (TKO), and TrueFi (TRU). This update provides increased flexibility for leveraging crypto assets across various strategies. Additionally, Notcoin (NOT) has been added as a borrowable asset for VIP status users, catering to large-scale investors and institutions seeking competitive credit rates for leveraged trading or hedging strategies.
Delisting and New Listings
In an effort to maintain market quality, Binance will delist three trading pairs: CAKE/TUSD, DYDX/BNB, and LAZIO/BTC. Users can still trade the individual tokens (CAKE, TUSD, DYDX, BNB, LAZIO, and BTC) through other available pairs on the platform. Spot Trading Bot services for these delisted pairs will also be terminated.
On the other hand, Binance is adding four new trading pairs to its Spot market: BTC/MXN, XRP/MXN, ENS/USDC, and LDO/USDC. These additions cater to users interested in trading with the Mexican Peso (MXN) or specific DeFi tokens (ENS and LDO). Users will also be able to utilize Spot Trading Bots once these new pairs go live.
Earn Product Updates
Binance continues to innovate with its Earn products, offering new limited-time offers every Wednesday. Users can expect attractive annual percentage rates (APRs) for flexible and locked staking options on popular cryptocurrencies such as BCH, USDT, SXP, ENA, AXS, BNB, SOL, and BTC. Flexible products offer real-time APRs and redemption at any time, while locked products provide higher interest rates but require a fixed lock-up period.
Conclusion
By introducing new borrowable assets, Binance addresses various user needs and facilitates diverse investment strategies. The new trading pairs offer more options and flexibility for users trading cryptocurrencies. Discounted fees on USDC pairs further incentivize specific trading activities. Earn Wednesday provides attractive interest rates on various Earn products, encouraging users to hold and stake their crypto assets. Overall, these updates reflect Binance’s commitment to enhancing user experience and maintaining market quality.
