The leading cryptocurrency exchange Binance has updated its loan program by adding new tokens and adjusting several aspects of its trading services.
New Tokens in Loan Program
Binance has announced the addition of new tokens such as Official Trump (TRUMP), Sonic (S), Peanut the Squirrel (PNUT), and others to its loan program. These tokens can now be used by users as loanable assets. The program has two divisions: those available to all customers and VIP loans for high-volume clients.
Despite the new support, all added cryptocurrencies are showing a decline in prices. For example, RESOLV has dropped by 13% in the last 24 hours, while meme tokens TRUMP and PNUT are down by 3% and 4% respectively.
Launch of Perpetual Contracts
Binance has also expanded its trading options on the Futures platform by launching perpetual contracts MYX/USDT and MYX/FUSDT with leverage up to 50x. These products allow users to speculate on the price of the respective cryptocurrency without owning it and have no expiration date.
Market response to this news has been positive, with MYX Finance (MYX) price increasing by 12% to nearly $0.10, although its market capitalization remains insignificant at less than $12 million.
Recent Delistings on the Platform
In addition to the updates in the Binance Loans section, the company announced the delisting of certain trading pairs, including CATI/FDUSD, ONE/BTC, and TLM/FDUSD, which will occur on June 20.
Binance clarified that the delisting of a trading pair does not affect the availability of the tokens on the platform, allowing users to trade the base and quote assets on other available pairs.
The updates from Binance highlight the dynamic nature of the cryptocurrency market, where new trading opportunities and adjustments in the loan program can impact trading and investments.
