Binance announces good news for XRP and DOGE users
The world's largest cryptocurrency exchange, Binance, has just announced good news for the cryptocurrency community, especially for users of XRP and Dogecoin (DOGE).
In its latest announcement, Binance Earn revealed that they have added these two altcoins to their smart arbitrage trading services.
What is Smart Arbitrage?
Smart Arbitrage leverages the funding rate mechanism by hedging futures positions with a spot position to earn funding fees. This strategy eliminates price volatility risk by holding opposing positions in the futures and spot markets.
As a result, profits from long positions offset losses from short positions and vice versa. So far, Binance Smart Arbitrage has only supported Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
With this leading exchange adding XRP and DOGE to Smart Arbitrage, it has sparked optimistic predictions about the upcoming price surge, especially as Donald Trump's victory is driving the bullish market.
