Binance smart arbitrage offerings were expanded to include XRP and Dogecoin (DOGE), which has fueled speculation regarding a price rally in the crypto market.
On Friday, Binance, the world’s largest cryptocurrency exchange, announced the inclusion of XRP and Dogecoin (DOGE) in its smart arbitrage offerings. The imminent price rally was the subject of significant speculation following the inclusion of XRP and DOGE by Binance Earn.
In celebration of the listings, the crypto exchange has also announced a special campaign that includes rewards totaling 45,000 USDT.
Binance Adds XRP and Dogecoin to its Smart Arbitrage list
Binance Earn has expanded its Smart Arbitrage offerings to include XRP and Dogecoin (DOGE), as per an official announcement issued on November 8. XRP and Dogecoin can be initiated by users with a minimum investment of 12.5 USDT. The only cryptocurrencies that were supported up until this point were Solana (SOL), Ethereum (ETH), and Bitcoin (BTC).
Smart Arbitrage capitalizes on the funding rate mechanism by hedging their futures position with a spot position in order to collect the funding charge. The strategy mitigates price movement risks by establishing opposing positions in the spot and futures markets. Consequently, the profit generated by a long position will counteract the loss generated by a short position (or vice versa).
Binance has also announced a special campaign in celebration of the XRP and Dogecoin (DOGE) listings, which will award a total of 45,000 USDT in rewards. The promotion is valid until November 21, at 23:59 UTC.
The most prominent cryptocurrency exchange asserts that users can earn an annual percentage rate (APR) of up to 20.95% during the promotional period. Additionally, the reward allotment will be allocated on a first-come, first-served basis, with a total of 30,000 USDT.
“Binance will provide a 10% Bonus APR on the first 1 – 2,500 USDT subscriptions to all users who opt-in to the Promotion and hold any Smart Arbitrage portfolio for more than 72 hours during the Promotion Period.”
Additionally, all regular and VIP 1-2 users who participate in the Smart Arbitrage portfolio promotion with a minimum of 10,000 USDT for 72 hours are eligible for a 45% trading charge rebate.
Ripple’s Token and DOGE Price to Rally
After Donald Trump’s victory, investors were already optimistic about XRP and DOGE, which resulted in upward momentum for the tokens. The positive sentiments are a result of the high likelihood for the XRP ETF launch and Elon Musk’s Department of Government Efficiency (D.O.G.E.).
An anticipated 30x rally in the price of XRP is anticipated, as it has experienced a 9% increase this week and is currently trading at $0.55. The 24-hour low and high are $0.542 and $0.560, respectively. Additionally, the trading volume has decreased by 37% in the past 24 hours, suggesting a decrease in traders’ interest.
In the interim, the price of DOGE has increased by 3% over the past 24 hours and by 25% on a weekly basis. The price is currently trading at $0.19, with a 24-hour low of $0.186 and a high of $0.199. It is anticipated that the price of Dogecoin will surpass $10 during this bull cycle.
