Binance, the largest cryptocurrency exchange; He recently shared various announcements that will affect altcoins such as MANA, UMA, HOT. In addition, the exchange announced that it will support the BAND update and launch new “binary investment” products. Here are the details…
MANA, HOT and more entered VIP and flexible loan services
Binance, the world’s largest cryptocurrency exchange, announced that it has added sixteen new loanable assets to its VIP Loan and Flexible Loan services. Newly added assets include INJ, HOT, RVN, MANA, TWT, GAL, REEF, PORTO, LRC, BEL, DENT, SPELL, ALPINE, API3, UMA and BSW. cryptocoin.com As we report, Binance VIP Loan is a personal and corporate over-collateralized loan service that offers competitive rates, terms and services. Using Binance VIP Loan, users can unlock greater potential for long-term mutual funds, leveraged trading and hedging strategies.
Binance Flexible Loan, on the other hand, is an isolated, over-collateralized, open-term loan product that allows users to keep their positions open indefinitely as long as the relevant Credit-to-Value (LTV) ratios are not exceeded. The new loanable assets are available in both Binance VIP Credit and Flexible Credit. The full list is as follows:
- Added to VIP Loan: INJ, HOT, RVN, MANA, TWT, GAL, REEF, PORTO, LRC, BEL, DENT, SPELL, ALPINE, API3, UMA and BSW
- Added to the Flexible Loan service: INJ, HOT, RVN, GAL, REEF, PORTO, LRC, BEL, DENT, SPELL, ALPINE, API3, UMA and BSW
Interested users can refer to the VIP Credit and Credit Data sections for the most up-to-date interest rates and a complete list of loanable and collateral assets. Binance’s VIP Loan service is designed for high-net-worth individuals and institutional investors, while its flexible loan service is open to all users.
New dual investment group announced
In addition to new loanable assets, Binance is also launching a new batch of Dual Investment products. These products come with up-to-date target prices and contract dates. Users can use “Sell High” or “Buy Low” products. Subscription for new Binary Investment products will start today at 13:00 Turkish time. The coins added are mostly the same and are as follows:
- “Sell high” products: BTC, ETH, SOL, MATIC, ADA, BNB, DOT, BCH, AVAX, FTM, ALGO, NEAR, ATOM, XRP, DOGE, LTC
- “Buy from the bottom” products: BTC, ETH, SOL, MATIC, ADA, BNB, DOT, BCH, AVAX, FTM, ALGO, NEAR, ATOM, XRP, DOGE, LTC
Binance supports BAND update
Binance also announced that it will support Band Protocol (BAND) network upgrade. The upgrade is Band Protocol’s 16,562,500. will occur at block height. This corresponds to April 27, 2023, at 17:00 Turkish time. BAND transactions will be suspended from 16:00 on the update day. However, BAND trading will not be affected during the network upgrade. Binance stated that it will meet all relevant technical requirements for all users who have BAND in their account. Once the exchange decides that the network is stable, it will reopen its trades for BAND.
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