Story Highlights
- Binance Thailand lists popular tokens like Terra Classic (LUNC), Terra (LUNA), and Shiba Inu (SHIB).
- Binance TH expands support for existing tokens by integrating them with faster and cheaper blockchain networks.
- The announcement comes before a crucial settlement between the SEC and Terraform Labs, hinting at Binance’s confidence in the market.
Binance Thailand (Binance TH), a joint venture between Binance and Gulf Energy, is expanding its offerings to attract users and cater to the growing demand for diverse crypto assets. Announced on June 8th, the exchange will list ten new cryptocurrencies for trading starting June 11th, 2024.
New Tokens Cater to Domestic Demand and Terra Ecosystem
The new listings include established names like Terra Classic (LUNC), Terra (LUNA), and Shiba Inu (SHIB). This move caters to the domestic Thai market’s interest in these popular tokens. Notably, the addition of three Terra tokens – LUNC, LUNA, and USTC – strengthens Binance TH’s support for the Terra ecosystem. Binance has actively supported Terra Classic’s revival efforts through token burns, and this listing might benefit the ecosystem’s recovery.
Network Flexibility for Existing Tokens
Binance TH is also expanding support for existing tokens by integrating them with additional blockchain networks. This allows users to trade these tokens on alternative platforms with potentially faster transaction speeds and lower fees. For example, Ethereum (ETH) will now be available on Base, Arbitrum, and Optimism networks, while Tether (USDT) can be traded on Arbitrum, Optimism, and Avalanche C-Chain. This network expansion provides users with greater flexibility and potentially improves their trading experience.
Strategic Timing Hints at Confidence in the Market
The announcement comes just a day before the anticipated settlement between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs. This timing could signal Binance’s confidence in the future of the crypto market, particularly the listed tokens and the Terra ecosystem. While the broader market has experienced a recent dip, many remain optimistic about a rebound. This expansion by Binance TH, coupled with the expected settlement, might contribute to a positive market shift.
The changes will be implemented on June 11th, 2 PM Thailand time (7 AM UTC). This move by Binance TH positions the exchange as a leader in catering to user demand for a wider range of crypto assets and fostering a more flexible trading experience.
