In a Twitter announcement, Binance stated “Margin borrowing amount reached above $100m (USD equivalent) a few days ago”.
Recently the company started offering margin lending which lets lenders to earn interest on cryptocurrency during the term of the loan on 21 different crypto assets.
Margin trading is a risky business. It lets you trade with leverage and could amplify your gains, as well as your losses.
The Malta-based firm only launched the scheme in July and it seems to have taken off in a big way.
It might help the lack of volume traded recently. The company will also let depositors earn interest on cryptocurrency holdings during the term of the loan (which is offered for the margin) on 21 different crypto assets.
Share
