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In a strategic move aimed at broadening its lending platform’s capabilities and catering to the evolving needs of cryptocurrency users, Binance, the world’s leading cryptocurrency exchange, has introduced NEAR Protocol (NEAR) as a pivotal addition to its loanable assets. Alongside NEAR, Binance has also integrated several other prominent assets, including Filecoin (FIL), Stellar (XLM), EOS (EOS), Injective (INJ), and Alien Worlds (TLM).
Guest Post by ItsBitcoinWorld: Filecoin (FIL), NEAR Protocol (NEAR), Stellar (XLM), Other Altcoins Added To Loanable Assets On Binance Loans | CoinMarketCap https://t.co/47pY5pov2r
— jorge Romero (@salva249) March 6, 2024
The integration of NEAR Protocol (NEAR) into Binance Loans underscores the exchange’s recognition of NEAR’s growing significance within the cryptocurrency ecosystem. NEAR Protocol stands out for its innovative approach to blockchain technology, offering a scalable, developer-friendly platform for decentralized applications (dApps) and smart contracts. With its focus on usability and scalability, NEAR Protocol has garnered considerable attention from both investors and developers seeking to leverage its capabilities for a wide range of applications, spanning from decentralized finance (DeFi) to gaming and beyond.
Binance’s decision to include NEAR Protocol (NEAR) as a loanable asset reflects the exchange’s commitment to providing diverse financial services and investment opportunities to its user base. By incorporating NEAR into its lending platform, Binance not only expands its asset offerings but also empowers users to utilize their NEAR holdings for various financial activities, including lending, trading, and investment strategies.
In addition to the introduction of the NEAR Protocol (NEAR) and other new assets, Binance has announced plans to delist 16 margin trading pairs. This strategic move is indicative of Binance’s proactive approach to adjusting its platform offerings in response to market dynamics, including recent fluctuations in cryptocurrency prices and heightened volatility, particularly driven by market sentiment surrounding Bitcoin.
For users interested in exploring the lending opportunities offered by NEAR Protocol (NEAR) and other newly integrated assets, Binance advises updating their mobile applications to iOS v2.78.0 or Android v2.78.0. This ensures seamless access to the expanded range of lending options available through Binance Loans, including the prominent addition of NEAR Protocol (NEAR).
Key Levels to Watch – March 7
NEAR’s bullish trend commenced in October of the previous year, following a price crash to $1.000. The breakout from a descending triangle signaled a new market direction, reinforced by the price surpassing the 200-period Simple Moving Average. Currently, the price has reached the resistance level of $6.110. Market sentiment suggests a potential upward movement to the next resistance level of $13.000 following a break and retest of the current resistance.
NEAR/USD Key Levels
Demand Levels: $3.590, $2.590, $2.160
Supply Levels: $6.110, $13.000, $19.790
NEAR Metrics:
Total Market Capitalization: $2.47 trillion
NEAR Market Capitalization: $6.0 billion
NEAR Volume (24H): $1.7 billion
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