Binance, the world’s largest cryptocurrency exchange, announced that it has added support for new trading pairs, loanable assets and the Terra (LUNA) network upgrade. Here are the details…
Binance adds new trading pairs to the platform
Binance will launch trading for two new fiat-to-crypto trading pairs, EGLD/RON and USDT/RON, starting April 21, 11 ET. RON is a fiat currency and does not represent any other cryptocurrency. The addition of these trading pairs will allow users to trade Elrond (EGLD) and Tether (USDT) cryptocurrencies against RON on the Binance exchange.
New coins arrived on credit platforms
In addition to the new trading pairs, Binance has also added six new loanable assets to its VIP Loan platform: GMX, XTZ, ZIL, WOO, ARPA and AUDIO. The VIP Loan platform is a personal and corporate over-collateralized loan service that enables users to unlock greater potential in long-term mutual funds, leveraged trading and hedging strategies. Lending assets on the VIP Loan platform are subject to competitive rates and terms.
Binance has also added nine new loanable assets to its Flexible Loan platform, including GMX, XTZ, YFI, ZIL, SLP, ARPA, WOO, CTSI and AUDIO. The Flexible Loan platform is an isolated, over-collateralized, open-term loan product that allows users to keep their positions open indefinitely as long as the relevant loan-to-value (LTV) ratios are not exceeded. Users can use Simple Earn Flexible Product assets as collateral on the Flexible Loan platform and continue to earn real-time annual percentage rate (APR) rewards while collateralized, reducing interest costs and making LTV management smoother.
Exchange supports Terra network upgrade
Finally, Binance announced that it supports the Terra (LUNA) network upgrade, which took place at block height 4,711,800 Terra, or approximately 8:00 am on April 20. Deposits and withdrawals from LUNA are suspended from approximately 7:00 am today. However, LUNA trading was not affected during the network upgrade. As a result of the update, Binance has met all relevant technical requirements for all users with LUNA in their account. Once the exchange decides that the upgraded network is stable, it will reopen deposits and withdrawals for LUNA without notifying users in further notice.
The addition of new trading pairs and loanable assets to Binance provides more options and flexibility for users to buy, sell and use their cryptocurrencies on the exchange. Meanwhile, the support for the Terra (LUNA) network upgrade demonstrates Binance’s commitment to providing a reliable trading platform for its users.
