Important Binance Announcement Concerning Numerous Altcoin Traders: Details
TL;DR
- Binance recently expanded its Loan service to include new assets such as Holo (HOT) and Manta Network (MANTA), requiring users to update their app versions to place orders.
- The prices of these newly added tokens increased following the announcement, possibly driven by the broader recovery in the cryptocurrency market.
The Latest Update
The world’s largest cryptocurrency exchange launched another upgrade on its platform to offer additional services and respond to reigning market trends. Most recently, it added Holo (HOT), Jito (JTO), Manta Network (MANTA), MANTRA (OM), NFPrompt (NFP), and Portal (PORTAL) as new loanable assets on Binance Loans (Flexible Rates).
The company advised clients who wish to place orders via the application to upgrade it to iOS v2.78.0 or Android v2.78.0 (or later). “Older app versions no longer support the placement of new Binance Loans (Flexible Rate) orders,” it warned.
The prices of most of the assets included in the exchange’s latest update have headed north shortly after the announcement. JTO is up 13% on a 24-hour scale, MANTA has surged by 7%, while NFP has witnessed a 5% spike.
The additional support from Binance might be one reason the aforementioned coins entered a bullish mode. Another factor could be the evident revival of the entire cryptocurrency market today (May 2). Many of the leading digital assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA), are well in the green after suffering substantial losses in the previous days.
The Previous Amendments
The exchange introduced multiple updates on its platform in the last several weeks. It added 18 new loanable assets, such as the popular meme coins Pepe (PEPE) and dogwifhat (WIF), to Binance Loan at the beginning of April. Shortly after, it launched the ARB/USDC and NEO/USDC perpetual contracts with up to 50x leverage, while FIL/USDC enables up to 75x leverage.
Earlier this week, the company included the XRP/JPY, SHIB/JPY, ADA/JPY, and SOL/JPY trading pairs on Binance Spot.
The options focus on the Japanese yen, giving locals the chance to dive deeper in the cryptocurrency industry. “Users will enjoy zero maker and taker fees on JPY trading pairs until further notice,” the firm clarified.
Prior to that, Binance simplified crypto trading for Mexicans, too, by launching a direct pair between USDT and MXN.
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