The world’s largest crypto exchange by volume, Binance, is showing support for a promising altcoin project developed on Ethereum (ETH).

New promising altcoin project

Pendle (PENDLE) has recently been listed on Binance’s Innovation Zone, which allows for spot trading pairs such as PENDLE/BTC, PENDLE/USDT, and PENDLE/TUSD with Bitcoin (BTC), Tether (USDT), and TrueUSD (TUSD) respectively.

The Innovation Zone is a specialized trading area for crypto assets that may experience sudden price fluctuations.

Pendle is a tokenized decentralized finance (DeFi) yield-trading protocol that enables investors to purchase assets at a discount and access an asset’s future yield for trading and hedging.

Pendle was initially launched in June 2021.

Pendle stated the following:

“As a yield derivative protocol, we are bringing the traditional finance (TradFi) interest derivative market (worth over $400 trillion in notional value) into DeFi, making it accessible to all. By creating a yield market in DeFi, Pendle unlocks the full potential of yield, enabling users to execute advanced yield strategies.”

As per the information available on Pendle’s website, they are currently offering ETH at a discounted rate of 6.09%.

Moreover, their liquidity pools are expected to provide returns of up to 42% upon maturity.

Following the announcement of Pendle’s listing on Binance, the token’s value surged to a peak of $1.21, the highest since 2023.

Binance in the news

Crypto behemoth Binance is reportedly seeking a new policy officer for its European operations, following a number of major setbacks on the continent.

The new hire would “develop and write new policies, standards, guidelines, and procedures for the firm,” a recent job advertisement notes.

It has been a challenging few weeks for the regional exchange, as reports from French media suggest that the company is currently being investigated by authorities in the country.

Binance has acknowledged that officials visited its offices in June. Meanwhile, the UK’s financial watchdog stated in June that the local division of the company is not authorized to provide services in the country.

The upcoming employment opportunity requires the ability to express complicated concepts in a clear and convincing manner.

The worldwide marketplace has a range of job listings available, such as a position for a government affairs associate director in Spain and a compliance director in Thailand.

In other news, the world’s biggest crypto exchange, Binance, has announced the suspension of deposits and withdrawals for eight altcoins linked to the bridging platform Multichain.

Binance has halted its support for Alchemy Pay (ACH) via the BNB Smart Chain, Spell Token (SPELL) via the Avalanche C-Chain, and six other lower market cap altcoin projects via Ethereum, Fantom, as per their latest statement.

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