Important Binance Announcement Concerning Ripple (XRP) and Dogecoin (DOGE) Traders: Details

Binance Adds XRP and DOGE to Smart Arbitrage Program

Binance has introduced Ripple (XRP) and Dogecoin (DOGE) to its Smart Arbitrage program, providing incentives for user participation in a special promotion.

Program Details

• Requires a minimum investment of 12.5 USDT
• Promotion period: November 8-21

Incentives

• 10% Bonus APR on initial subscriptions (up to 2,500 USDT) for users participating in the promotion and holding Smart Arbitrage portfolios for over 72 hours.
• 45% trading fee discount for regular and VIP 1-2 users who subscribe to a Smart Arbitrage portfolio with at least 10,000 USDT for over 72 hours during the promotion period.

Smart Arbitrage Program

Binance's Smart Arbitrage program utilizes an automated tool that enables users to profit from funding rate variations between futures and spot markets. This involves holding opposing positions in both markets to collect funding fees while minimizing price volatility exposure.

Impact on XRP and DOGE

Listing on major cryptocurrency exchanges like Binance typically enhances asset prices due to increased liquidity, accessibility, and credibility.

Current Performance

• Dogecoin (DOGE) has experienced a 5% daily increase and currently trades around $0.20.
• Ripple's XRP has remained relatively stable, trading around $0.55 with minimal volatility over the past 24 hours.