Binance Adds Dogecoin and Litecoin as Collateral for Loans
Binance has enhanced its Fixed Rate Loan services by adding Dogecoin and Litecoin as collateral assets. Additionally, ChainGPT (CGPT) is now available as a loanable asset in the VIP Loan program.
Key points include:
- Fixed Rate Loans allow borrowing of cryptocurrencies at fixed interest rates.
- Other supported collateral includes Bitcoin, Ethereum, and Binance Coin.
- Post-announcement, Dogecoin rose to $0.36 (5% increase) and Litecoin reached $103 (3.38% increase).
- CGPT climbed nearly 9% to $0.4, with a market cap exceeding $332 million but a decline in trading volume by more than 18% in 24 hours.
Binance's recent initiatives also include:
- New trading pairs added to the spot market, including PHA/USDC and others.
- Expansion of the Earn program with new reward opportunities.
- Launch of PROM/USDT Perpetual Contract on futures platform with up to 75X leverage.
- A new operational license in Brazil, marking its 21st regulatory milestone globally.