The world’s largest cryptocurrency exchange expands the list of trading options on Binance Spot by adding multiple new pairs.
The upcoming series of listings are clearly focused on Indonesian customers.
Binance adopts these pairs
In a recent announcement, the exchange revealed that it will be adding 31 new trading pairs to Binance Spot in three phases. The first batch will be held on November 27 and includes HBAR/IDR, MANTA/IDR, SCR/IDR, and WLD/IDR.
The second and third installments are scheduled for November 29th and will feature pairs such as ASTER/IDR, FLOKI/IDR, WIF/IDR, ADA/IDR, BTC/IDR, DOGE/IDR, and XRP/IDR.
IDR is the symbol for the Indonesian Rupiah, the official currency of the Asian country. The launch of direct trading pairs between a number of cryptocurrencies and IDR will simplify access for local traders, allowing them to move in and out of the digital asset market without converting their funds to other fiat currencies such as USD.
Indonesia is one of the world’s top cryptocurrency markets. According to Chainalysis, the country ranks seventh in global cryptocurrency adoption, ahead of countries such as Ukraine, the Philippines, Russia, the United Kingdom, and Turkey.
The digital assets involved in the latest listing exercise showed minimal volatility following disclosure. Binance is known for causing massive pumps when it first adopts a token, but introducing additional trading pairs usually does not have the same impact.
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say goodbye to those people
In addition to expanding the list of trading options, Binance conducts regular reviews and removes pairs due to factors such as reduced liquidity. Based on the latest analysis, we have decided to discontinue the spot trading pairs of BMT/FDUSD, GMT/BTC, ME/BTC, and TOWNS/FDUSD. The move will take place on November 28th.
“The delisting of spot trading pairs does not affect the availability of the tokens on Binance Spot. Users can continue to trade the basis of spot trading pairs and estimate the assets of other trading pairs available on Binance,” the announcement reads.
Last month, Binance announced that it would be discontinuing all services for Flamingo (FLM), Cadena (KDA), and Perpetual Protocol (PERP). The assets involved plummeted by double digits immediately after the disclosure, which was not surprising. Ultimately, delisting from Binance will result in reduced liquidity, decreased visibility, and reputational damage.
