According to a recent statement issued by BitTrade, one of Japan’s leading cryptocurrency exchanges, the firm recently announced the beginning of regular recruitment for the lending of two cryptocurrencies as of today, November 21.

As per the statement, the firm plans to start regular recruitment for crypto assets for renting XRP and SHIB.

The aforementioned decision is much eyed by Japan’s crypto market enthusiasts as the crypto lending landscape within the nation would witness a significant jacking up, further fostering the development of the digital asset realm within Japan.

Stock Recruitment Overview

The statement released by BitTrade showcased data orbiting the lending of two cryptocurrencies, XRP and SHIB.

XRP

The loan period for XRP, classified by BitTrade, stands at 90 days with an annual rate of 2%. Furthermore, the minimum application quantity set by the firm is 100 XRP, with the maximum being set at 500,000 XRP.

SHIB

The loan period of SHIB is also set at 90 days, with an annual rate of 2%. Additionally, the minimum application quantity for SHIB tokens is set at 10 million SHIB, and, the maximum number of applications is valued at 10 billion SHIB.

Apart from this, the rental fee rate for both the tokens, considering the respective rental periods, is valued at 0.49% approximately.

Besides this, users can apply after simulating the lending fee they receive via crypto asset lending simulators.

Also read: Tether’s $1 Billion Deposit in UK Firm Sparks High Court Dispute

XRP and SHIB Price Report

XRP

At the time of writing, the XRP price noted a marginal fall of 2% over the past twenty-four hours, reaching $0.6114 today. Furthermore, the token witnessed a substantial decrease of 6.05% over the past week.

However, the twenty-four-hour trading volume witnessed a 5.80% upswing, evaluating $1.25 billion.

Interestingly, the price fall witnessed by XRP comes contrary to the surge in whale activities orbiting the token.

SHIB

While writing, the Shiba Inu price witnessed a slight decrease of 3.83% over the past twenty-four hours, reaching $0.00000832 today. Subsequently, over the past week, the token noted a downfall of 1.17%.

However, the twenty-four-hour trading volume experienced a significant upsurge of 27.54%, reaching $144.60 million.

The aforementioned SHIB price slump also appears to come contrary to the Shiba community’s constant efforts to jack up the SHIB tokenomics. As reported by CoinGape media earlier, the Shiba Inu crypto community has been constantly burning SHIB tokens with hopes of reviving the cryptocurrency.

Also read: Pro-XRP Lawyer Asks Charles Hoskinson To Prove ADA’s Non-Security Status Amid SEC Scrutiny

The post BitTrade Unveils Lending Blueprints For XRP And SHIB In Japan appeared first on CoinGape.

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Filed under: News - @ November 21, 2023 1:14 pm