- August 6, 2023
- Posted by: [email protected]
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Binance made a significant statement on August 4th, revealing the addition of 22 additional cryptocurrencies as loanable and collateral assets on its Flexible Loan and VIP Loan services. The change is expected to improve the platform’s lending and borrowing capabilities, better meeting the needs of its growing user base.
Among the newly disclosed collateral assets, some notable mentions include Shiba Inu, Compound, and Theta. This announcement has sparked widespread speculation regarding the potential listing of Bone ShibaSwap (BONE) tokens on Binance. Interestingly, this aligns with the upcoming launch of Shibarium, a layer-2 blockchain scheduled for August. The correlation suggests that the addition of Shiba Inu as collateral may pave the way for the potential listing of Bone ShibaSwap tokens on the platform.
Binance’s expansion of its loan services is a significant move to offer more flexibility to its users. The Flexible Loan service now encompasses eight new loanable assets, while the VIP Loan service includes six new ones. This strategic expansion aims to accommodate a broader range of users with varying preferences and investment strategies.
Additionally, Binance introduced Nem (XEM) as a newly available borrowable asset, making it accessible to traders on the cross-margin trading platform. This move reflects the exchange’s continuous efforts to diversify its offering and cater to the demands of its users.
The recent developments surrounding Shiba Inu and Bone tokens have garnered considerable attention in the cryptocurrency community. After the successful launch of the Shibarium testnet, PuppyNet, and Bone ShibaSwap (BONE) tokens, they have been listed on several prominent cryptocurrency exchanges like OKX, Huobi, and Crypto.com, signaling increasing interest and acceptance of the token in the market.
With the forthcoming launch of the Shibarium mainnet in August, Binance is actively considering the listing of the BONE token on its platform. However, the decision is contingent on the successful deployment of Shibarium, as it fulfills one of the critical listing prerequisites for new tokens. The project’s lead developer, Shytoshi Kusama, has expressed optimism about the Shibarium launch happening in August, fueling anticipation among the community.
Binance’s recent expansion of collateral assets and loanable offerings showcases the exchange’s commitment to providing innovative financial services to its users. The addition of Shiba Inu as a collateral asset opens up new possibilities for both the cryptocurrency and its related tokens. As the industry continues to evolve, Binance’s proactive approach to embracing new projects and technologies demonstrates its position as a leading cryptocurrency exchange. The potential listing of Bone ShibaSwap tokens on Binance could have significant implications for the token’s adoption and value, adding to the excitement surrounding the upcoming launch of Shibarium.
