Binance announced a promotional campaign for its USDC simple earn flexible products, which ends on June 30, 2024.

Binance Holdings Ltd, the leading global cryptocurrency exchange by registered users and traded daily volume, has announced the launch of Circle Internet Financial Ltd’s USDC Simple Earn Flexible Products today. 

According to the announcement, Binance users can now begin to earn up to 8 percent in their USDC holdings.

Notably, Binance has set a subscription of a first come first served model with reward payout divided into two sections. 

Furthermore, Binance will only be offering a real-time annual percentage rate (APR) of approximately 4 percent.

Additionally, the cryptocurrency exchange has set a bonus tiered APR of around 4 percent to accounts with a balance of between 0.1 and 500 USDC. 

As for accounts with a balance of more than 500 USDC, Binance highlighted that they will only receive real-time APR of about 4 percent.

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Binance has not set a limit order in the USDC Flexible Products offering, thus offering users a decent income option. The distribution of bonus tiered APRs is sent to respective users’ spot wallets daily. On the other hand, accrued real-time APR are sent to respective users’ Earn wallet every minute.

Meanwhile, the promotion period for the USDC flexible products is set to end on June 30, 2024. After the promotional period, Binance users will be entitled to real-time APR rewards.

“All users who hold open positions for USDC Flexible Products will receive both Real-Time APR and Bonus Tiered APR rewards during the Promotion Period. Once the promotion ends, users will be entitled to Real-Time APR rewards only,” Binance noted.

Market Impact of Binance’s USDC Flexible Products

The launch of Binance’s USDC Flexible Products will have a profound impact on the mass adoption of the US dollar-backed stablecoins. 

The notable competition between the various stablecoins will continue to escalate in the near future. For instance, Ripple Labs CEO suggested that the US SEC will be hunting down Tether’s USDT next.

However, Tether CEO Paolo Ardoino slammed Ripple, which intends to launch a US-backed stablecoin later this year, for it is already under investigation by the US SEC.

As of this writing, Circle’s USDC has a total market capitalization of about $33 billion and a 24-hour average traded volume of about $4.13 billion. 

In comparison, Tether’s USDT had a market value of about $110 billion and a daily average traded volume of about $20 billion.

Bigger Picture

The relationship between Binance and the United States has significantly improved since the historical settlement. 

Already, Binance is under a tight scope of the US regulators as part of the settlement plan. Consequently, there is a high chance that Binance will continue to attract more customers over time due its robust regulatory framework.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN

San Francisco, June 19-20 – The highly anticipated annual Tech Summit San Francisco is set to illuminate the future of technology on June 19-20, 2024, from 9:00 AM at the renowned Santa Clara Convention Center.

Themed “Transforming Tomorrow,” this year’s summit promises to be a two-day extravaganza of innovation, knowledge-sharing, and unparalleled networking opportunities. With over 200 distinguished speakers, the event is set to exceed the success of the previous year, where more than 3,000 attendees delved into over 200 insightful sessions.

Tech Summit San Francisco has a history of hosting industry luminaries, and this year is no exception. Previous speakers have included Pinterest’s Tech Lead Thothathri Srinivasan, YouTube CEO Susan Wojcicki, and Guy Kawasaki, former Chief Evangelist at Apple. Attendees can expect a diverse range of perspectives and expertise from some of the most influential names in the tech world.

“We are thrilled to present Tech Summit San Francisco 2024, a dynamic platform where industry leaders, professionals, and enthusiasts converge to explore the transformative power of technology,” said Nicole, CTO at Tech Summit San Francisco. “The Santa Clara Convention Center will be the epicenter of groundbreaking discussions and innovations that will shape the future of the tech industry.”

For registration and more information about Tech Summit Europe 2024, please visit https://techsummit.tech/san-francisco/

About Tech Summit San Francisco:

Tech Summit San Francisco is an annual gathering of thought leaders, professionals, and enthusiasts from the technology industry. With a focus on innovation and collaboration, the summit provides a platform for exploring the latest trends and advancements in the tech world.

• Eligible participants for the Bybit x SignalPlus Options Grand Prix may also trade perpetual and futures. However, the volume will be discounted by 50% when the rewards are being calculated. 

Popular cryptocurrency exchange Bybit has inked a new strategic partnership with SignalPlus, an options trading platform to propel a competition dubbed Bybit x SignalPlus Options Grand Prix. 

The competition is a two-phase event where participants get to compete for a share of a 100,000 USDC prize pool as well as other prizes.

“We’re excited to partner with SignalPlus on the Bybit x SignalPlus Options Grand Prix,” said Hao Yang, Head of Financial Products at Bybit. 

“With a massive prize pool of 100,000 USDC and exciting team and individual rewards, we’re expecting an energetic and competitive event. We encourage everyone to join us and experience the thrill of options trading on Bybit and SignalPlus.”

Users Participate as a Team or Individually

Yang also touted the competition as an opportunity for experienced options traders and novices who wish to sharpen their skills. 

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The first phase, the semi-final, will span from May 8 through May 24, 2024. The final lap will be from May 8 to June 8, 2024.

Several traders can pull forces together as a team and stand a chance to win up to 8,500 USDC. The top four performing teams are eligible for this prize money. 

The participants will be judged on the basis of trading volume and total transaction count amongst others. 

Noteworthy, having several team members with a trading volume of over 500,000 USDC in each stage, can help push the ranking of a team higher than its rivals.

During the time frame of the competition, eligible teams will participate in a lucky draw daily. The winners, five team members, will go home with 50 USDC each while the overall winner for each day will score an unforgettable 3D2N Thailand getaway.

For those who decide to participate in the two phase competition as an individual, several other prizes would be available for wins during the Bybit x SignalPlus Options Grand Prix. 

The top ten contenders from this category could walk away with as much as 150 USDC per individual. Interested teams and individuals are required to register before they can participate in the competition.

More Activities in The Bybit Ecosystem

Eligible participants for the Bybit x SignalPlus Options Grand Prix may also trade perpetual and futures. However, the volume will be discounted by 50% when the rewards are being calculated.

See Also: Cake Crypto Wallet Adds Pay-Per-Use Access To Premium Subscription AIs

On the other hand, residents of Spain, Brazil, Hong Kong, Netherlands, and the United Kingdom are prohibited from participating in this event. 

Meanwhile, this is only one of the top activities that Bybit has launched in recent times, underscoring its commitment to engage with its users.

Last week, the exchange announced plans to make Notcoin, a Telegram-based play-to-earn game, available for trading later this month. Similarly, Bybit simplified crypto purchases globally by integrating Google Pay.

This integration allows users across 35 currencies to buy cryptocurre­ncies effortlessly with just one­ click.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN