#Binance suspends lending for some assets#

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Overview

Binance announced that it will stop offering 10 assets, including Banana Gun (BANANA), Gains Network (GNS), Harmony (ONE), Kadena (KDA), Liquity (LQTY), Livepeer (LPT), Portal (PORTAL), Tellor Tributes (TRB), Viberate (VIB), and Vulcan Forged PYR (PYR), as collateral for borrowing starting from 11:00 AM (UTC+8) on January 15, 2025. This adjustment means that users will no longer be able to use these assets for collateral borrowing, and Binance will no longer support lending services for these assets.

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Analysis

Binance announced that starting from 11:00 AM (UTC+8) on January 15, 2025, Binance Earn will stop offering some assets as borrowable assets for its lending service, including Banana Gun (BANANA), Gains Network (GNS), Harmony (ONE), Kadena (KDA), Liquity (LQTY), Livepeer (LPT), Portal (PORTAL), Tellor Tributes (TRB), Viberate (VIB), and Vulcan Forged PYR (PYR). This move implies that users will no longer be able to utilize these assets for lending or earn interest through staking these assets. The reason behind Binance's decision to discontinue offering these assets as borrowable remains unclear, but it could be due to insufficient liquidity for these assets or Binance's assessment of their risk levels as too high.

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Classic Views

Binance stopped offering some lending assets likely to mitigate risk, as these assets have lower liquidity or higher volatility.

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This move by Binance could be related to the recent volatility in the cryptocurrency market, and in order to protect user funds, Binance needs to adjust its lending business strategy.

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Binance stopping offering some lending assets could negatively impact the price of those assets, as lower liquidity could lead to decreased trading volume.

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This move by Binance could also reflect its concerns about the regulatory environment for the cryptocurrency market, as lending businesses may face stricter regulations.

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