Binance Approves Shiba Inu as Collateral Asset

Binance has made several announcements regarding new loanable and collateral assets. Notably, Shiba Inu (SHIB) has been included as a collateral asset on the exchange’s platform for flexible loans. However, it’s important to mention that SHIB is not accepted as collateral for VIP loans, which remains unchanged.

For flexible loans, the newly added loanable assets are AUCTION, PYR, ILV, KNC, YGG, GAS, CELO, and IRIS. The collateral assets for flexible loans now include SHIB, COMP, IOTA, RLC, HOT, ENJ, THETA, and IOST. On the other hand, VIP loans have new loanable assets such as NKN, FARM, DIA, YGG, OGN, and ACA.

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During the past month, Shiba Inu has seen positive performance, with a 1.9% increase in the last 24 hours and a 7.6% gain over the previous week. Additionally, SHIB has shown growth of 8.7% in the monthly charts, indicating a positive trend.

A Step Towards BONE Listing?

After Shiba Inu’s inclusion as a collateral asset, there is widespread speculation regarding the potential listing of BONE tokens on Binance, which is closely linked to the upcoming launch of Shibarium’s Layer-2 blockchain later this month.

The launch of Shibarium’s mainnet appears to be one of the key prerequisites for BONE’s listing. BONE is a crucial component of the Shiba Inu ecosystem and has already been listed on multiple cryptocurrency exchanges, including OKX and Crypto.com.

In addition to the significant expansion of its loanable and collateral assets, Binance has also introduced Nem (XEM) as a newly available borrowable asset, supporting the XEM/USDT pair on the cross-margin trading platform. This highlights Binance’s ongoing efforts to upgrade its offerings and adapt to the ever-changing landscape of the cryptocurrency market.