The world’s largest crypto exchange Binance has opened seven new liquidity pools for crypto including Bitcoin, Shiba Inu, and Dogecoin amid increasing demand for these cryptocurrencies. The Binance Liquid Swap allows users to either swap between different tokens or provide liquidity to Binance’s pools to earn rewards.
Binance Launches Bitcoin, Shiba Inu, Dogecoin Liquidity Pools
Crypto exchange Binance’s Liquid Swap service on April 24 announced that it has added seven new liquidity pools. The popular liquidity pools are BTC/TUSD, SHIB/DOGE, and TUSD/USDT. Others include BEL/USDT, ID/BTC, ID/USDT, and SYN/USDT.
While the liquidity pools allow users to trade instantly and pool tokens to earn rewards, adding liquidity into a liquid pool and becoming a liquidity provider is not risk-free. The market price of tokens can greatly fluctuate during volatile market conditions, causing the staking income to remain lower or incur losses.
Binance has recently inclined towards TrueUSD (TUSD)
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