The largest crypto exchange by market share, Binance is looking to make the most of the meme coin frenzy as it recently announced a promotion on its platform for crypto tokens like Shiba Inu (SHIB), Dogecoin (DOGE), and Dogwifhat (WIF).
Binance Announces Interest Fee Waiver For Meme Coins
The crypto exchange announced in a release that all users who borrow DOGE, SHIB, WIF, PEPE, FLOKI, BONK, and MEME (on Binance Margin) will receive a one-hour interest fee waiver. This promotion is set to last from March 12 to March 26. Interestingly, these tokens are the seven largest meme coins by market cap.
Hits Important Milestone
Elaborating on how the promotion will work, Binance noted that interest usually accrues at the start of every hour. Therefore, traders won’t charged any interest if they can complete repayment within the first hour of borrowing.
This introduction of this new promotion is believed to be one of the crypto exchange’s ways of taking advantage of the heightened interest in meme coins lately. So far, this category of crypto tokens has been one of the leading narratives in this bull cycle, and Binance will be hoping that this can further entice users to trade these meme coins on its platform.
The crypto exchange had also recently listed WIF for spot trading and listed MYRO, another Solana-based meme coin, for futures trading. Meanwhile, it added a PEPE/USDC pair to go along with the already-existing PEPE/USDT pair. This also forms part of the initiatives to further lure meme coin traders to its platform.
