As a researcher with experience in the cryptocurrency market, I’m always on the lookout for new developments that could potentially impact the industry. The recent announcement by Binance regarding the introduction of new trading pairs with the Japanese yen is an interesting development that could attract more users to the exchange, especially those in Japan.
TL;DR
- Binance will introduce new trading pairs with the Japanese yen later this week.
Despite new listings, involved cryptocurrencies like XRP, SHIB, ADA, and SOL are currently declining in value.
New Pairs Incoming
As a researcher studying the cryptocurrency market, I’m excited to share that one of the top cryptocurrency exchanges in the world has announced another update to its trading program aimed at improving user experience. Starting from April 30, Binance Spot will introduce new trading pairs: XRP/JPY, SHIB/JPY, ADA/JPY, and SOL/JPY. Additionally, trading bot services for these specific pairs will also be available on the same day.
The following selections concentrate on the Japanese yen, enabling residents to delve deeper into the cryptocurrency realm. According to the company’s announcement, users will benefit from no fees for both making and completing trades in JPY pairs indefinitely.
As a financial analyst, I would rephrase the given sentence as follows:
As a crypto investor, I’ve noticed that even with the extra backing from the exchange, the well-known altcoins such as Ripple (XRP), Shiba Inu (SHIB), Cardano (ADA), and Solana (SOL) continue to be in the red during this market correction. Typically, significant price increases occur when an official listing takes place on Binance. The exchange has supported all of these cryptocurrencies for several years now.
Previous Binance Updates
The company made several adjustments to its trading schedule starting in 2024. It added new digital currencies and removed some previous ones based on various reasons, including insufficient market liquidity.
As an analyst, I’d rephrase that statement as follows: In March, I observed that the platform enabled trading for the pairs PEPE/FDUSD, UNI/FDUSD, OM/TRY, PIXEL/USDC, STRK/USDC, and THETA/TRY. Subsequently, it took away the support for Monero (XMR) and three other altcoins: Aragon (ANT), Multichain (MULTI), and Vai (VAI).
In April, a number of significant advancements occurred. For instance, Binance Loan welcomed 18 new loanable assets, which include Pepe (PEPE) and dogewifhat (WIF).
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2024-04-29 16:04