Binance Innovation Welcomes PENDLE: Traders Flock for Zero Fees and High Profits

Binance, the renowned global cryptocurrency exchange, has expanded its Innovation Zone by adding Pendle (PENDLE), a cutting-edge yield-trading protocol. The platform has introduced spot trading pairs for PENDLE, including PENDLE/BTC, PENDLE/USDT, and PENDLE/TUSD, which are now available for trading starting at 10:00 UTC.

Binance User Gear Up For Pendle

In anticipation of the introduction of this new asset, Binance users wasted no time in depositing PENDLE. Adding to the excitement, the exchange announced that withdrawals for PENDLE would commence at 10:00 UTC on July 4, 2023. What’s even more encouraging for traders is that there was no listing fee charged for PENDLE, making the token more accessible than ever.

In an interesting move, Binance has extended a zero maker fee for the PENDLE/TUSD trading pair until a future undisclosed date, presenting a highly lucrative opportunity for its users. Moreover, within 48 hours of the listing, PENDLE will be available as a borrowable asset, forming a new isolated margin pair with USDT.

Also Read: Crypto News: Binance Introducing Auto-Invest API Amidst Regulatory Challenges

So, What is Pendle?

Pendle introduces an innovative approach to yield trading by separating a yield-bearing asset into its principal and yield segments. This unique method empowers users with the flexibility to earn yields in a fixed or adjustable manner. PENDLE, the utility token of the platform, serves multiple purposes by incentivizing liquidity, enabling governance, and accruing fee value.

Listing in the Binance Innovation Zone, which is known for hosting tokens with potentially higher volatility and risk, has proven to be advantageous for PENDLE. As of the report, PENDLE has recorded an impressive 17% growth within the past 24 hours and a remarkable 48% surge over the past week. With a current trading price of $1.10, PENDLE demonstrates incredible market resilience and tremendous growth potential.

Note for Investors!

It is essential for users to recognize that trading in the Innovation Zone carries inherent risks due to the higher volatility of newly listed tokens. Therefore, investing in such tokens should be approached with caution and thorough research.

Overall, Binance’s addition of the Pendle yield-trading protocol to its Innovation Zone has generated excitement among users. With its unique approach to yield trading and impressive market performance, PENDLE holds promise as a valuable asset for traders seeking lucrative opportunities in the cryptocurrency market.