Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result

Home » Binance Introduces An NFT Lending Service To Compete With Blend

Binance Introduces An NFT Lending Service To Compete With Blend

Hania by Hania
May 26, 2023
in Crypto Exchanges, NFT News
Reading Time: 2 mins read
A A
0
Binance Introduces An NFT Lending Service To Compete With Blend
Share on FacebookShare on Twitter
ADVERTISEMENT

Binance Marketplace, the non-fungible token (NFT) trading platform of cryptocurrency exchange Binance, is introducing a new service on Friday that allows users to borrow Ether using NFTs as security. It will go off against Blend, the trading protocol used by Blur, the top NFT trading platform in the globe, which has monopolized 82% of the NFT loans market since its May 2 launch.

Binance NFT Loan Service 

“Users can take advantage of greater flexibility on their NFT assets while maintaining the potential long-term value of their NFTs without having to sell them,” Binance stated in its launch of the Binance NFT Loan service.

https://twitter.com/TheBinanceNFT/status/1661713696765165572?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1661713696765165572%7Ctwgr%5E7c3f577f48e90888d537d1a68ddbb7303f735a1d%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fforkast.news%2Fheadlines%2Fbinance-launches-nft-loan-service-to-rival-blend%2F

The service will initially only support loans made with Ethereum. Additionally, only NFT collateral options from the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, and Doodles collections will be supported.

According to Binance, the company plans to increase its offering of those services in the future. Binance will compete against Blur, the largest NFT trading platform in the world, for the position of best NFT loan service.

You May AlsoLike

OKX Pleads Guilty, Resolves DOJ Investigation with $505M Settlement

OKX Pleads Guilty, Resolves DOJ Investigation with $505M Settlement

February 28, 2025
Bitget Introduces BitEXC

Bitget Introduces BitEXC: A Customized Crypto Platform for Vietnam

December 3, 2024

Binance Introduces An NFT Lending Service To Compete With Blend

On May 2, Blur launched Blend, its own peer-to-peer lending protocol for NFTs. 82% of the whole NFT loan market is dominated by Blend. DappRadar, a blockchain data aggregator, reports that in the first 22 days after opening, it recorded a loan volume of over US$308 million.

According to Brendan Humphries, head of business at peer-to-peer NFT lending platform Pine Protocol, the ongoing nature of Blend’s loans has proven attractive to traders looking for more leverage.

“Products like Blend contribute to the NFT market’s continued maturation, improve market effectiveness, and increase the space’s allure for new entrants seeking sophisticated products and tools,” Humphries stated.

Tags: BAYCEthereumMutant Ape Yacht Club (MAYC)nft tradingNon Fungible TokenPeer-to-peer
Share78Tweet49
ADVERTISEMENT
Previous Post

Gemini Considers Ireland As Its European Hub Amid US Crypto Regulations

Next Post

South Korean Politicians Now Required to Declare Bitcoin Holdings

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

OKX Pleads Guilty, Resolves DOJ Investigation with $505M Settlement
Crypto Exchanges

OKX Pleads Guilty, Resolves DOJ Investigation with $505M Settlement

February 28, 2025
Bitget Introduces BitEXC
Crypto Exchanges

Bitget Introduces BitEXC: A Customized Crypto Platform for Vietnam

December 3, 2024
Coinbase high listing fee
Crypto Exchanges

Coinbase Face Scrutiny Over High Listing Costs, Sparking Shift Towards Decentralized Platforms

November 5, 2024
Bitfinex to Receive 120K BTC for 2016 Hack
Crypto Exchanges

Bitfinex to Receive 120K BTC for 2016 Hack: A Major Recovery Update

October 9, 2024
Crypto.com Takes Legal Action Against SEC Following Wells Notice
Crypto Exchanges

Crypto.com Takes Legal Action Against SEC Following Wells Notice

October 8, 2024
CryptoPunk Sells for $1.5 Million Amid NFT Market Slump, Raising Fresh Optimism
NFT News

CryptoPunk Sells for $1.5 Million Amid NFT Market Slump, Raising Fresh Optimism

September 10, 2024
Next Post
South Korea's FSC Proposes Credit Card Limits in Crypto

South Korean Politicians Now Required to Declare Bitcoin Holdings

Discussion about this post

Live Prices

Stay Connected

You May Also Like

  • MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

    MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

    196 shares
    Share 78 Tweet 49
  • Why the Bitcoin Halving Is Happening Sooner Than Anticipated

    237 shares
    Share 95 Tweet 59
  • Solana Futures Launch at CME Boosts Price Amid High Demand

    191 shares
    Share 76 Tweet 48
  • Cardano (ADA) Staking Now enabled by Trust Wallet

    190 shares
    Share 76 Tweet 48
  • March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

    196 shares
    Share 78 Tweet 49
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2024 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2024 CryptoMufasa - All Rights Reserved!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Don’t Miss Out on the Best in Crypto!

Stay ahead with a weekly digest of the top news and insights—no spam, no ads, just the essential updates delivered straight to your inbox. Subscribe now for valuable content you can trust!

johnsmith@example.com
subscribe to email

Never see this message again.