Leading Japanese cryptocurrency exchange BitTrade has expanded its support for XRP and Shiba Inu (SHIB).
According to an announcement yesterday, BitTrade added support for SHIB and XRP in its lending product. BitTrade said it had started recruiting profitable crypto assets for SHIB and XRP.
SHIB and XRP Loan Details
In particular, the exchange scheduled the lending period for each asset at 90 days, with a fixed annual rate of 2%. Additionally, users can lend a minimum of 100 XRP (worth $59.5 at press time) and a maximum of 500,000 XRP ($297,500).
The exchange set a minimum lending amount of 10 million SHIB ($80) for Shiba Inu tokens, and a maximum of 10 billion SHIB ($80,000) could be lent.
It is worth mentioning that BitTrade has been a big supporter of Shiba Inu and XRP. Before its recent announcement, the Japanese stock exchange had already enabled spot trading for both assets.
BitTrade now supports 27 crypto assets
As reported last month, BitTrade listed SHIB and Dogecoin on its platform, bringing its total number of supported assets to 34 at the time. According to data from CoinGecko, BitTrade has reduced its number of supported assets to 27, including XRP, SHIB, BTC, ETH, MKR, ONT, and several other assets.
Data from CoinGecko shows that BitTrade has a 24-hour trading volume of $4.5 million. Despite its low trading volume, BitTrade remains one of the few Japanese exchanges with a registered license in the country.
Rising popularity of SHIB and XRP
Meanwhile, BitTrade’s decision to add support for SHIB and XRP loans is due to the growing popularity of both assets, the announcement reads.
It is common knowledge that SHIB and XRP are among the leading crypto assets with vibrant communities. The enthusiasts behind these assets are always eager to declare their support for SHIB and XRP on social media platforms like X (formerly Twitter), thereby attracting the attention of major crypto trading platforms.
While upcoming crypto assets pay to list on major exchanges, established coins like SHIB and XRP attract the attention of trading platforms due to their vibrant communities.
As previously reported, Shiba Inu fans embarked on a campaign that led Robinhood, an American trading platform, to add support for SHIB. Although the XRP community has also embarked on a similar initiative, it is only a matter of time before Robinhood bows to pressure.
