Important Binance Update Affects Dogecoin (DOGE) Traders: Details Inside

TL; DR

Binance has expanded user options, adding DOGE and other assets as collateral on fixed-rate loans and VIP loans.
Participating cryptocurrencies have made small gains, perhaps due to the company's support and the broader revival of the crypto market.

Additional support for these cryptocurrencies

Soon the world's largest crypto exchange included Dogecoin (DOGE) and Litecoin (LTC) as collateral assets on fixed rate loans. It also added ChainGPT (CGPT) as a loanable asset. VIP Loan.

Binance's Fixed Rate Loan program allows users to lend or borrow stablecoins at fixed interest rates that ensure predictable costs and returns. Borrowers get collateralized loans. Popular cryptocurrencies that can serve that role include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Avalanche (AVAX), as well as the recently added DOGE and LTC.

“The platform effectively matches the needs of providers and borrowers. Fixed rate loans are leveraged collateral that supports multi-asset collateral to reduce liquidity risk. It also features efficient automated processing with auto-payment and auto-renewal options,” the company said.

On the other hand. The company's VIP loan service offers institutional and large customers over-the-counter loans, flexible terms, competitive rates and access to multiple properties.

DOGE, LTC and CGPT have all recorded gains in the last 24 hours. However, the support from Binance may not be the only factor contributing to their positive performance.

Another factor is the overall revival of the cryptocurrency market, where Bitcoin (BTC) is over $98,000. Ripple (XRP) It hit a seven-year high of nearly $2.90. Other high performance Stellar (XLM); Cardano (ADA)and others.

Destruction effort

In addition to adding new services to customers, Binance often removes cryptocurrency or Certain Due to business pairs as reasons Poor liquidity. Several hours ago, announced The following spot trading pairs: BNX/BTC, CATI/BNB, CATI/BRL, CHZ/FDUSD, DOGS/BNB, GTC/BTC, HIGH/BTC, LISTA/BRL, NOT/BRL, PIXEL/BTC, TKO/BTC, TWT/BTC will be unavailable from January 17th.

Spot marketing services b The permission mentioned earlier It will also be terminated on that day. “Users are strongly recommended. To update and/or cancel spot trading bots in the past Discontinuance of spot trading bots to avoid potential harm,” he advised.

Earlier this year, Binance made a similar update. reveal That LIT/BTC, NULS/BTC, SFP/BTC, BEL/BTC, and LSK/BTC will be unavailable to customers from January 16.