BitTrade Adds Ripple and Shiba Inu to Lending Program

According to CryptoPotato, BitTrade, a Japanese cryptocurrency exchange, has added Ripple (XRP) and Shiba Inu (SHIB) to its lending program. The exchange announced that it would begin 'regular recruitment' for crypto assets for rent for XRP and SHIB starting November 21, 2023. The loan period for both tokens is set for 90 days with an annual rate of 2%. The minimum quantity that could be loaned is 100 XRP, and the maximum is 500,000 XRP. In the case of Shiba Inu, the minimum application is 10,000,000 SHIB, whereas the maximum is 10,000,000,000 SHIB. Approximately a month ago, BitTrade enabled deposits and withdrawals in the two largest memecoins by market capitalization – Dogecoin (DOGE) and Shiba Inu (SHIB), bringing the total number of supported assets by the marketplace to 34. However, the announcement from BitTrade appears to have no positive effect on the prices of XRP and SHIB. Both assets have plunged in the past 24 hours, recording a 3% and 4% decline respectively. Still, many analysts believe that the correction could be temporary, and the tokens might once again head north.