According to an announcement made yesterday, BitTrade is launching a lending product. Shiba Inu and added XRP support. BitTrade said it has started recruiting rentable crypto assets for SHIB and XRP.
SHIB and XRP Loan Details
Specifically, the exchange planned the loan period for each asset to be 90 days with a fixed rate of 2% per annum. In addition, users can lend a minimum of 100 XRP (worth $59.5 at press time) and a maximum of 500,000 XRP ($297,500).
The exchange has set a minimum loan amount of 10 million SHIB ($80) for Shiba Inu tokens. A maximum loan of 10 billion SHIB ($80,000) can be given.
It is worth noting that BitTrade is a major supporter of Shiba Inu and XRP. Before its latest announcement, the Japanese exchange had already enabled spot trading for both assets.
BitTrade Now Supports 27 Crypto Assets
As reported last month, BitTrade listed SHIB and Dogecoin on its platform, bringing the total number of supported assets to 34 at the time. According to CoinGecko data, BitTrade has reduced the number of supported assets to 27, including XRP, SHIB, BTC, ETH, MKR, ONT and several other assets.
Data from CoinGecko shows BitTrade’s 24-hour trading volume is $4.5 million. Despite its low trading volume, BitTrade is still among the few Japanese exchanges licensed in the country.
Increasing Popularity of SHIB and XRP
Koinfinans.com Meanwhile, BitTrade’s decision to add SHIB and XRP lending support is due to the growing popularity of both assets, as we reported.
It is common knowledge that SHIB and XRP are among the top crypto assets with vibrant communities. Enthusiasts behind these assets are always willing to declare their support for SHIB and XRP on social media platforms like crypto- They attract the attention of trading platforms.
While upcoming crypto assets pay to be listed on top exchanges, SHIB and XRP Established coins such as are attracting the attention of trading platforms due to their vibrant communities.
As previously reported, Shiba Inu fans started a campaign to get American trading platform Robinhood to add support for SHIB. Although the XRP community has launched a similar initiative, it is only a matter of time before Robinhood bows to the pressure.
Source : The Crypto Basic