Binance's Decision To Accept SHIB, COMP, And THETA As Collateral Assets Signals Growing Acceptance Of Meme Coins
Portfolio Pulse from Murtuza Merchant
Cryptocurrency exchange Binance has approved Shiba Inu, Compound, and Theta as collateral assets, expanding its Flexible Loan and VIP Loan services. Binance has also incorporated NEM into its list of borrowable assets and announced that the XEM/USDT trading pair is now supported on its cross-margin trading platform. The exchange is considering adding the BONE token to its platform, dependent on the launch of the Shibarium mainnet.
August 04, 2023 | 3:23 pm
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POSITIVE IMPACT
Binance's decision to accept more cryptocurrencies as collateral and borrowable assets could increase the platform's usage, potentially benefiting BNB.
As Binance expands its services and accepts more cryptocurrencies, it could attract more users to its platform, which could increase the demand for BNB, the platform's native token.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
The potential addition of the BONE token to Binance could increase its visibility and demand.
The potential listing of the BONE token on a major exchange like Binance could increase its visibility and demand, potentially driving up its price. However, this is dependent on the launch of the Shibarium mainnet.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Compound's acceptance as a collateral asset on Binance could increase its utility and demand.
Being accepted as a collateral asset on a major exchange like Binance could increase the utility and demand for Compound, potentially driving up its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Shiba Inu's acceptance as a collateral asset on Binance could increase its utility and demand.
Being accepted as a collateral asset on a major exchange like Binance could increase the utility and demand for Shiba Inu, potentially driving up its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Theta's acceptance as a collateral asset on Binance could increase its utility and demand.
Being accepted as a collateral asset on a major exchange like Binance could increase the utility and demand for Theta, potentially driving up its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
NEM's inclusion as a borrowable asset and the support for the XEM/USDT trading pair on Binance could increase its utility and demand.
Being included as a borrowable asset and having a supported trading pair on a major exchange like Binance could increase the utility and demand for NEM, potentially driving up its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100