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In a noteworthy development for Stellar (XLM), major crypto exchange Binance has announced the listing of new JPY trading pairs, including XLM/JPY. This move is expected to increase Stellar's exposure in the Japanese market, providing a boost to its trading volumes and overall market presence.
According to a recent announcement by Binance, the move aims to expand its list of trading choices on Binance Spot and improve users' trading experience.
The new JPY trading pairs will be introduced in two batches. The first batch, which includes XLM/JPY, will be launched Jan. 9 at 8 a.m. UTC alongside APT/JPY, PEPE/JPY and SUI/JPY. The second batch will be launched Jan. 16 at 8 a.m. UTC, including IOTX/JPY and SEI/JPY.
To further encourage trading, Binance has announced a zero-maker fee promotion for the new JPY spot trading pairs. The promotion period for XLM/JPY will last from Jan. 9 to Feb. 9.
Tomiwabold OlajideThis move is expected to boost liquidity and trading activity for Stellar (XLM) in the Japanese markets. Japanese Yen (JPY) is Japan's official currency, and according to Binance's announcement, can be deposited or withdrawn by Binance Japan users only. Increased accessibility to XLM through its JPY pair could lead to higher trading volumes and greater adoption of Stellar in the region.
At the time of writing, XLM was up 1.19% in the last 24 hours to $0.455 and up 36.35% in the last seven days.
Other Binance announcements
In similar announcements, Binance will open trading for the BIO/USDC, HIVE/TRY, MOVE/USDC, PHA/TRY and SUSHI/TRY trading pairs Jan. 8 at 8 a.m. UTC. The move, it says, is to expand the list of trading choices offered on Binance Spot and enhance users’ trading experience.
In separate listings, Binance Futures will launch COOKIEUSDT, ALCHUSDT and SWARMSUSDT perpetual contracts with up to 75x leverage on Jan. 7.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Vladislav Sopov
Arman Shirinyan
Dan Burgin