Binance, the world’s largest cryptocurrency exchange, started the day with altcoin announcements. Binance gave good news to XRP and Dogecoin (DOGE) users.
At this point, Binance Earn announced that it has added XRP and Dogecoin (DOGE) to its smart arbitrage offerings.
“Dear Binancians,
Binance Earn is excited to announce the addition of XRP and DOGE to Smart Arbitrage. The minimum investment is set at 12.5 USDT.
To celebrate the addition of XRP and DOGE to smart arbitrage offerings, we are running a special campaign with a total reward of 45,000 USDT.
Promotion Period: 08.11.2024 at 04:00 (UTC) – 21.11.2024 at 23:59 (UTC)
Smart Arbitrage leverages the funding rate mechanism by hedging futures positions with a spot position to collect funding fees. The strategy eliminates price movement risks by taking opposing positions in the futures and spot markets. Therefore, profits from a long position offset losses from a short position and vice versa.
At this point, Binance stated that users can start the smart arbitrage strategy for XRP and Dogecoin by investing at least 12.5 USDT.
So far, Binance Smart Arbitrage only supported Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Announcing who can participate in the 45,000 USDT reward campaign, Binance said, “According to Binance, all users who participate in the Promotion and hold any Smart Arbitrage portfolio for more than 72 hours during the Promotion Period will receive 10% Bonus APR on their first 1 – 2,500 USDT subscriptions. The total reward pool of 30,000 USDT will be distributed on a first-come, first-served basis.”
With the market and investors already bullish on XRP and DOGE after Donald Trump’s victory, Binance Earn’s addition of XRP and DOGE to Smart Arbitrage has fueled speculations for an imminent price rally.
XRP, which has increased by 7% in the last week, continues to be traded at $ 0.547; DOGE, which has increased by 28.2%, continues to be traded at $ 0.199.
*This is not investment advice.