Binance, the global cryptocurrency exchange with the highest trading volume, revealed a new Tether (USDT) earning program this week, boasting an annual percentage yield (APY) of up to 13%. This offering from Binance adds to the growing list of digital currency trading platforms that provide yield services for stablecoin assets.
Binance has launched a time-limited opportunity for investors to earn up to 13% Annual Percentage Yield (APY) through its latest program. This promotion, active from November 7 to November 13, 2023, allows users to enjoy real-time APY rewards that accumulate and reflect in their Earn wallet every minute.
Back by popular demand… you can now earn up to 13% APR with $USDT on #Binance Earn!
Subscribe to $USDT on Simple Earn Flexible Products to enjoy the exclusive bonus rate, limited time and first-come, first-served only.
Join now ⤵️
— Binance (@binance) November 7, 2023
In recent years, numerous cryptocurrency exchanges and related enterprises have been incentivizing cryptocurrency asset holders. Stablecoins like USDT and USDC have gained substantial popularity due to their increased demand compared to conventional cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH), leading to more enticing rewards.
Recent data indicates that Nexo is offering a generous 16% Annual Percentage Yield (APY) for USDT holdings, while Youhodler provides a 12% yield. Crypto.com offers a maximum of 6.5% APY for Tether. In June, Coinbase launched a program allowing customers to earn up to a 4% Annual Percentage Rate (APR) in rewards from USDC holdings. These initiatives cater to the growing appetite for opportunities to generate returns on stablecoin assets.
Aave Offers 8.09% Yield on USDT, Binance Expands Simple Earn Program
Aave, a decentralized finance (DeFi) platform, is reportedly providing an attractive 8.09% yield on USDT, while Compound offers a reported yield of approximately 5.17%. In addition to their recent USDT earn program, Binance has expanded its offerings to include rewards for locked TAI and DAI on the Binance Simple Earn platform. Users can choose from lock-in periods ranging from 15 to 120 days, with the flexibility of early redemption if necessary.
Binance’s comprehensive suite of services, including Earn, the crypto exchange, and various wallets, is currently valued at around $63.71 billion at prevailing cryptocurrency exchange rates. Among its assets, USDT accounts for 27.87%, signifying that Binance holds approximately $17.75 billion worth of the leading stablecoin, as per nansen.ai statistics. This equates to Binance controlling 20.70% of the total circulating supply of 85.73 billion tethers, consolidating its significant position in the stablecoin market.
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