Important notice from Binance regarding Ripple (XRP) and Dogecoin (DOGE) traders: details

TL;DR

Binance added XRP and DOGE to its Smart Arbitrage program, offering rewards to users who participate in a special promotion. DOGE saw a daily increase of 5%, while the price of XRP remained stable around $0.55. The addition of XRP and DOGE

Today (November 8), Binance added Ripple (XRP) and Dogecoin (DOGE) to its Smart Arbitrage program. The option requires a minimum investment of 12.5 USDT.

The exchange introduced a special campaign with rewards totaling 45,000 USDT to celebrate the new offering. The promotion period is from November 8 to 21.

“All users who sign up for the promotion and hold any smart arbitrage wallet for more than 72 hours during the promotion period will receive a 10% bonus APR on their first subscriptions of 1-2,500 USDT .A total reward pool of 30,000 USDT will be distributed on a first-come, first-served basis,” Binance explained.

In addition, regular users and VIP 1-2 who subscribe to any Smart Arbitrage wallet with at least 10,000 USDT for more than 72 hours during the promotion period will enjoy a 45% discount on the trading fee.

“Rewards will be calculated by trading fees incurred in Smart Arbitrage during the promotion period. A total reward pool of USDT 15,000 will be distributed on a first-come, first-served basis,” the announcement reads.

It is worth mentioning that users who wish to participate must complete the necessary KYC formalities and click on the “Join Now” button.

Binance’s Smart Arbitrage program is an automated tool that allows users to earn rewards by taking advantage of differences in funding rates between the futures and spot markets. It works by simultaneously holding opposite positions in both markets, long in one and short in the other, to collect financing fees while minimizing exposure to price volatility.

How are XRP and DOGE doing?

Allowing additional trading services on a major cryptocurrency exchange like Binance often increases the prices of the assets involved due to increased liquidity, accessibility and credibility.

The largest meme coin by market cap, Dogecoin (DOGE), is well in the green today, up 5% in the last 24 hours and currently hovering around $0.20. Its strong performance aligns with the overall bullish environment across the cryptocurrency market following Donald Trump’s victory in the US presidential election.

Price DOGE, Source: CoinGecko

On the other hand, Ripple’s XRP has failed to catch up with its rivals, posting less substantial gains. It is currently trading at around $0.55, showing little to no volatility on a 24-hour scale.

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