Japanese Crypto Exchange Expands Crypto Lending Program to Include XRP and SHIB

Japanese cryptocurrency exchange BitTrade has announced the addition of two big cryptocurrencies to its loan program: Shiba Inu (SHIB), a cryptocurrency inspired by memes, and XRP, the native token of the XRP Ledger.

A newly released notice states that the company is starting a “regular offering” of XRP and SHIB lending. Users will be able to lend either token for 90 days and receive a 2% annual percentage income on their holdings.

A user must apply with at least 100 XRP to lend in order to utilize the platform to lend XRP; the announcement specifies that the maximum amount that may be lent is 500,000 XRP.

There is a minimum requirement of 10 million tokens and a maximum of 10 billion tokens for users who want to earn interest on their SHIB holdings.

About a month ago, the Japanese crypto trading site launched support for Dogecoin (DOGE) and Shiba Inu (SHIB), the two most popular memecoins by market valuation. As a result, the exchange now provides 34 different digital assets.

In a transaction valued at over $35 million, a huge SHIB whale reportedly transferred more than 4.4 trillion tokens to an unidentified wallet earlier this month.

Coincident with the unveiling of the project’s ambitious vision for 2024 and 2025, the burn rate of the meme-inspired cryptocurrency skyrocketed to a staggering 14,380% in only one day, prompting the transaction.

However, one cryptocurrency expert has predicted that XRP would soon see a “mega pump” based on technical research.

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