Important Binance Update Affecting Ripple (XRP) Traders
TL;DR
- Binance is set to introduce XRP/USDT options trading by the end of the week, aiming to improve trading experiences with competitive pricing.
- The company also adjusted its offerings by suspending Solana withdrawals, delisting several altcoins, and adding new assets to Binance Loans.
The leading cryptocurrency exchange continues implementing amendments on its platform “to enhance users’ trading experience.”
According to a recent announcement, Binance will launch XRP/USDT options on Binance Options RFQ on March 11.
RFQ stands for “Request for Quote” and enables users to ask for option quotes from the company’s OTC Trading Desk. “Users may leverage Options RFQ’s institutional-grade liquidity now and complete large-sized options trades over-the-counter at more competitive prices and zero fees,” Binance explains.
XRP’s price has shown little-to-no volatility after the disclosure, hovering at approximately the same levels observed on March 7. Currently, it is worth about $0.63 (per CoinGecko’s data), a 6% spike on a 7-day scale.
Earlier this week, Binance temporarily suspended Solana (SOL) withdrawals due to “the increased volume of transactions on the network.” The service is expected to be restored on March 9.
Other recent announcements coming from the exchange include the delisting of the popular privacy coin Monero (XMR) and three other altcoins – Aragon (ANT), Multichain (MULTI), and Vai (VAI).
On the other hand, it added Filecoin (FIL), NEAR Protocol (NEAR), Stellar (XLM), EOS (EOS), Injective (INJ), and Alien Worlds (TLM) as new loanable assets on Binance Loans.
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