Binance raising the personal quotas for earning products
1 min read
Good morning to everyone,
As the title suggests recently Binance has started increasing the caps for earning products for long period locks on numerous cryptos, including:
ATOM (120days from 30 to 1000);
SOL (120 days from 30 to 500);
DOT(120days from 30 to 200) and many more.
Consequently the APRs were reduced by between 1-2 percent.
Personally, I am not a fan of staking on a CEX(even if it is simpler and sometimes more convenient than the alternative ways of staking on chain), but I find the topic interesting to follow, as I believe that it can be an indicator for the situation on the market, and can help with the decision-making for retail investors.
One take away is that CEXs, Binance in particular is trying to attract holders and new investments. Taking into consideration that the ATOM cap increase happened before the SEC lawsuit and security drama, it could mean that binance is seeing value in these coins/projects.
In contrast, it could be a result of many people turning to self-custody and the CEXs losing customer base and is trying to desperately increase their liquidity.
What are your opinions on the topic? Do you see this as a positive or a negative sign?
submitted by /u/that_bulgarian_guy
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