Sign Up on MEXC
Highlights
- Binance diversifies loanable assets, introducing JTO, NFP, MANTA, and others, fostering market flexibility.
- The expansion reflects Binance's commitment to offering diverse financial products and catering to user needs.
- Market speculation soars as Binance's announcement tends to influence crypto prices.
Binance, a leading crypto exchange, once again grabs attention in the crypto sphere with its latest move. The platform’s announcement of adding new crypto projects as loanable assets on Binance Loans has stirred discussions among traders and investors. Notably, this strategic expansion aims to provide users with increased flexibility and opportunities within the Binance ecosystem.
Binance Adds More Cryptos As Loanable Assets
In a recent update, Binance unveiled its plan to incorporate several new cryptocurrencies as loanable assets on its Binance Loans platform. Among the notable additions are Holo (HOT), Jito (JTO), Manta Network (MANTA), MANTRA (OM), NFPrompt (NFP), and Portal (PORTAL).
Meanwhile, this move signifies the crypto exchange’s commitment to offering diverse financial products to its users, catering to varying investment strategies and risk appetites.
Notably, the introduction of these new loanable assets not only broadens the range of options available to users but also enhances the flexibility of Binance Loans (Flexible Rate). With this open-term loan product, users can collateralize cryptocurrencies from existing Simple Earn Flexible Products subscriptions, offering a seamless borrowing experience.
In addition, the real-time APR rewards via Simple Earn Flexible Products further incentivize users to engage with the platform.
Also Read: XRP Lawyer John Deaton Slams SEC’s Gary Gensler For ‘Infecting’ Entire Agency
Market Speculation Amid Recent Announcement
Binance’s announcement has not only impacted its platform but also sparked discussions across the broader cryptocurrency market. Typically, announcements from major exchanges like Binance tend to influence crypto prices, with investors closely monitoring any developments.
However, amid the recent market downturn, characterized by widespread crypto retracement, investors are cautiously assessing the potential impact of Binance’s announcement on crypto prices. Notably, this underscores the intricate relationship between market sentiments and exchange-related news in the volatile crypto landscape.
Meanwhile, as the crypto market continues to navigate through periods of volatility, announcements from key players like Binance serve as crucial indicators for market participants. The addition of new loanable assets not only reflects Binance’s adaptability but also underscores its role in shaping the evolving crypto financial ecosystem.
As of writing, the JTO price was down 5.65% and traded at $2.94, while its one-day trading volume rocketed 112.85% to $180.6 million. Simultaneously, the NFPrompt price fell 9.98% to $0.3778 at the same time, with its trading volume soaring 34% to $26.29 million from yesterday.
Also Read: Ripple 500 Million XRP Unlock Sparks XRP Price Drop Concerns
- Bitwise Files S-1 for Avalanche ETF With SEC Following Delaware Registration
- REX-Osprey Dogecoin and XRP ETFs Set to Launch September 18
- Coinbase’s Base Explores Issuing Network Token to Power ‘Global Economy’ Push
- Trump Urges Powell to Make a Larger Fed Rate Cut Ahead of FOMC Meeting
- Breaking: PayPal to Integrate Bitcoin, Ethereum, PYUSD In New P2P Payments System
- Solana Price Prediction: Analyst eyes $1,250 as Galaxy Digital and Forward Industries Intensify Accumulation
- Trump Coin Price at Risk of a 16% Dive as Open Interest, Whale Selling Intensify
- Hype Price Prediction Gains Momentum — Is USHD Launch the Fuel for $72 Target?
- Bitcoin Price Prediction: Q4 Rally Looms as ETF Inflows Hit $642M—Analyst eyes $150K
- Pepe Coin Price Prediction as the Token Jumps Nearly 20% – Will Whale Accumulation Take it to $0.00003?
