Binance launches a BNB cryptocurrency stake with an annual return of up to 25%
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Answer Binance launches a BNB cryptocurrency stake with an annual return of up to 25%
announced Binance, the cryptocurrency exchange, announced the launch of the “Stacking” BNB coin, which will start today, August 20, at 1 pm UTC.
The BNB stakes will be available in 7-day and 30-day options and participants will earn up to 25% on BNB as an annual return.
Using BNB tokens to participate in the lending operations of the Kava Decentralized Finance Project:
BNB on Binance will be used to participate in Kava’s lending operations.
It is worth noting that the decentralized finance platform KAVA went through a successful crowdfunding on Binance IPO in October 2019.
At the time of writing this article, a total of $36.17 million worth of BNB has been secured on the Kava exchange.
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The potential impact of the new announcement on the price of both currencies:
As a result of Binance’s announcement of a stake in BNB, the latter saw a positive rise in value from around $22.50 to $23.30.
With investors receiving up to 25% annual returns on stakes, this has encouraged a high demand to buy BNB via Binance, so the demand to buy and close BNB will have an ongoing positive impact on the value of the coin.
Additionally, KAVA cryptocurrency will benefit from the uptake of BNB tokens on its platform.
At the time of writing, the KAVA cryptocurrency has not seen any appreciation in value following the announcement of the BNB stake.
However, it can be concluded inconclusively that as investors tap into the potential of the Kava project in the DeFi market, demand for and ownership of KAVA coins as well as the price of the coin will increase in the long run.
As with all investment operations in alternative digital currencies such as BNB, KAVA and others, we always advise in Bitcoin Arabs to use an appropriate stop loss, and to stay away from the use of leverage in large proportions.
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