Binance Expands Trading Options for Users in Indonesia
Binance is set to introduce 31 new trading pairs specifically for its Indonesian user base.
Binance Expands Trading Options for Users in Indonesia
The world’s largest cryptocurrency exchange is enhancing its offering by adding 31 new trading pairs for its Indonesian users this week.
Details of New Trading Pairs
The additional pairs will be launched in three phases, beginning November 27. The first group includes HBAR/IDR, MANTA/IDR, SCR/IDR, and WLD/IDR. The following two batches will be announced on November 29, including pairs like ASTER/IDR, FLOKI/IDR, WIF/IDR, ADA/IDR, BTC/IDR, DOGE/IDR, XRP/IDR, among others.
IDR signifies the Indonesian Rupiah, which is the designated currency of the country. Direct trading pairs between multiple cryptocurrencies and IDR will streamline access for local traders, allowing for seamless market entry and exit without requiring conversion into other fiat currencies like USD.
Indonesia ranks as one of the top cryptocurrency markets globally, holding the seventh position in terms of global crypto adoption, according to Chainalysis, ahead of countries such as Ukraine and the United Kingdom.
The digital assets included in the recent listing showed little price fluctuation subsequent to the announcement. While Binance has a reputation for inducing significant price spikes upon adding a token, the introduction of additional trading pairs often has a different effect.
Discontinuation of Unused Trading Pairs
In addition to increasing trading options, Binance routinely evaluates its trading pairs, discontinuing those that show inadequate liquidity. Following its latest assessment, Binance has decided to remove the BMT/FDUSD, GMT/BTC, ME/BTC, and TOWNS/FDUSD pairs, which will be effective on November 28.
“The delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot. Users can still trade the spot trading pair’s base and quote assets on other trading pair(s) that are available on Binance,” read the announcement.
Last month, Binance disclosed its decision to halt services for Flamingo (FLM), Kadena (KDA), and Perpetual Protocol (PERP), with the affected assets experiencing a significant drop in value following the announcement.
