- Binance, the world’s largest cryptocurrency exchange, has expanded its Loan service to include new assets such as Holo (HOT) and Manta Network (MANTA).
- Following the announcement, the prices of these newly added tokens have seen an increase, possibly driven by the broader recovery in the cryptocurrency market.
Binance expands its Loan service to include new assets, resulting in a surge in the prices of these tokens. This move is seen as a response to the current market trends in the cryptocurrency industry.
Binance’s Latest Update
Binance has launched another upgrade on its platform to offer additional services and respond to reigning market trends. It has added Holo (HOT), Jito (JTO), Manta Network (MANTA), MANTRA (OM), NFPrompt (NFP), and Portal (PORTAL) as new loanable assets on Binance Loans (Flexible Rates). The company has advised clients who wish to place orders via the application to upgrade it to iOS v2.78.0 or Android v2.78.0 (or later). The prices of most of the assets included in the exchange’s latest update have increased shortly after the announcement.
Impact on the Market
The additional support from Binance might be one reason the aforementioned coins entered a bullish mode. Another factor could be the evident revival of the entire cryptocurrency market today. Many of the leading digital assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA), are well in the green after suffering substantial losses in the previous days.
Previous Amendments by Binance
The exchange has introduced multiple updates on its platform in the last several weeks. It added 18 new loanable assets, such as the popular meme coins Pepe (PEPE) and dogwifhat (WIF), to Binance Loan at the beginning of April. Shortly after, it launched the ARB/USDC and NEO/USDC perpetual contracts with up to 50x leverage, while FIL/USDC enables up to 75x leverage. Earlier this week, the company included the XRP/JPY, SHIB/JPY, ADA/JPY, and SOL/JPY trading pairs on Binance Spot. The options focus on the Japanese yen, giving locals the chance to dive deeper in the cryptocurrency industry.
Conclusion
Binance’s latest update, which includes the addition of new loanable assets, has had a positive impact on the prices of these tokens. This move, along with the exchange’s recent updates, shows Binance’s commitment to respond to current market trends and provide its users with a variety of options in the cryptocurrency industry.
