WhiteBIT, a leading European cryptocurrency exchange has significantly expanded its collateral offerings by adding 60 new cryptocurrencies. This raised the total number of collateral assets supported to over 80 and added more versatility to the trading platform. Amongst those newly included assets were the likes of PEPE, BONK, SUI, DAI, AAVE, and many more, allowing access to numerous strategies touching borrow, margin, and futures trading.
With the expansion, it looks to focus on remaining relevant in the changing cryptocurrency market. The exchange boasts up to 5.5 million users and brands itself as a one-stop solution for retail and institutional traders. Moreover, through expansion and offering an expanded range of collateral assets on the platform, it seeks to enhance the user’s ability to risk manage while using many other trading strategies.
WhiteBIT Expands Collateral Offering with 60 New Cryptocurrencies
WhiteBIT’s expansion in offerings is largely driven by the growing demand for such features within the industry as noted by the company. With the new additions, It supports more than 80 collaterals, allowing users to choose a variety of assets for their margin and futures trading. This further highlights the increasing demand for the assets including PEPE, BONK, SUI, DAI, AAVE, as well as many others.
While other traders like the niche collaterals of newer tokens that are in contrast to major leans on trading such as bitcoin and Ethereum, such flexibility WhiteBIT is propagating this through its extension. When it tosses these assets into its system, then WhiteBIT has expanded platform capabilities that enable different types of trading. With new opportunities coming in, users can now use tokens such as PEPE or BONK for more questionable trades or for stablecoins like DAI to encrypt trade in case of fluctuating prices.
The focus on bringing in these new collateral assets points to the ability of this exchange to adapt and innovate in a competitive surrounding. The exchange is based on the customer-focused approach which allows both retail clients as well as institutional customers getting access to many advanced trading features that require greater liquidity, such as leveraged trades and margin loans from a very limited number of tokens.
The Growing Importance of Collateral in Cryptocurrency Trading
The fact that there are more than 80 assets integrated as collateral on WhiteBIT shows how important this collateral is in our cryptocurrency exchange era. The key benefit that WhiteBIT will benefit from is the opportunity to provide users with options that would best fit their risk profiles by using different assets. This is largely due to the use of collaterals in margin, futures trading, and other activities through leveraging cryptocurrency ownership as a crucial aspect of the ecosystem.
Currently, with a new type of collateral framework introduced in WhiteBIT, users can now diversify their risk on a relatively wider range of assets instead of basing it on a few. Additionally, the system allows immediate marking to market of collateral that helps traders keep track of their open positions in case their trades were liquidated. This comes in especially handy where prices become very volatile and change promptly.
The increase in collateral that is provided over the counter exchange is a strategy that more and more of the cryptocurrency exchanges are adopting as they seek to improve their platforms and reach more people. By allowing several collaterals, WhiteBIT becomes a simple exchange that meets the needs of both first-time traders and those relatively familiar with trading.
Additionally, 60 new assets can be used for crypto lending, unlocking new opportunities for those looking to invest and earn income effectively. Crypto Lending allows you to lend your cryptocurrencies to WhiteBIT by selecting a flexible plan of 30, 90, 180, or 360 days. It offers the opportunity to earn up to 13.49% annual income in the same cryptocurrency you lend. This unique tool is ideal for crypto traders seeking to grow their assets with minimal risk.
WhiteBIT Spot and Futures Trading Volumes, and WBT Token Performance
WhiteBIT has become the first cryptocurrency exchange to obtain a Level 3 certification under the Cryptocurrency Security Standard (CCSS). It continues to perform strongly in both spot and futures trading markets. The platform’s spot trading volume has surpassed $6.1 billion in the last 24 hours, reflecting its prominence in the European cryptocurrency market. This robust volume is fueled by the recent expansion of collateral options, attracting a wide range of traders.
Apart from spot trading, WhiteBIT’s future market has also been quite active as it has registered over $17.2 billion in trading volume in the last 24 hours. The exchange also provides 181 futures contracts and this makes it easy for traders who wish to take up leveraged positions and apply more intricate strategies.
Meanwhile, its native token WBT price has maintained a solid performance. Trading at $25, WBT experienced a slight 1% dip in the last 24 hours. Despite this, the token boasts a market cap of $2.17 billion and remains a key component of its ecosystem. The combination of strong trading volumes and WBT’s steady performance reinforces its status as a leading platform for both retail and institutional traders.
