Binance TH, the joint venture between Binance and Gulf Energy, is expanding its offerings with a significant listing spree. This move comes just a day before the highly anticipated settlement between the SEC and Terraform Labs, adding another layer of intrigue.
Fresh Blood on Binance TH: From LUNA to SHIB
Starting June 11th, Binance TH will welcome a diverse range of cryptocurrencies onto its platform. This includes trending coins like Terra Classic (LUNC), TerraUSD Classic (USTC), the revived Terra (LUNA), meme favorite Shiba Inu (SHIB), and others. Additionally, Celestia (TIA), Wormhole (W), Bittensor (TAO), and more will be available for trading.
The listing of LUNC, USTC, and LUNA is seen by some as a renewed commitment by Binance to these tokens, particularly considering the demand from Thai users. This could potentially boost their popularity within the region.
Beyond new coins, Binance TH is also expanding its network support for existing tokens. Users will have access to Ethereum (ETH) on Base, Arbitrum, and Optimism networks. Tether (USDT) will be tradable on Arbitrum, Optimism, and Avalanche C-chain. Popular tokens like WAVES and SHIB will also gain additional trading options with their listing on Binance Smart Chain (BSC).
Also Read: Binance Tightens Grip on EU Stablecoins, Ushering in Era of Regulatory Clarity (MiCA regulations )
Market Dip or Opportunity?
This announcement comes amidst a slight downturn in the broader crypto market. The recent selloff has dragged the market cap down by over 3.40%, casting a shadow on the immediate price prospects of these newly listed tokens.
LUNC, for example, has dipped 10% in the last 24 hours, currently trading at $0.0001064. Similar dips are observed with USTC and SHIB, although analysts predict a potential rebound as inflation cools.
All Eyes on June 11th
With the listing date set for June 11th, just a day before the SEC and Terraform Labs settlement, the crypto community in Thailand is buzzing with anticipation. Whether this listing spree translates into a price surge for these coins remains to be seen. However, one thing’s for certain: Binance TH is making a bold move to attract users and expand its presence in the Southeast Asian market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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