Binance Gulf, the parent company of Binance Thailand has revealed that Shiba Inu (SHIB) is set to go live for trading by June 11. The crypto exchange, spun from a collaboration between Binance and Gulf Energy, said its Thailand users can start trading SHIB by 2:00 am local time.
Broad Market Support from Binance
This new milestone follows the news of Binance hitting 200 million users, marking a major push for Shiba Inu to gain new exposure.
This achievement emphasizes Binance’s increasing impact in the worldwide cryptocurrency market and its dedication to broadening its offerings. The objective of this Shiba Inu listing is to broaden user choices in Thailand and other Asian countries it serves.
Alongside SHIB, Binance TH also revealed plans to launch trading pairs for ten popular cryptocurrencies including Terra Classic (LUNC), and Terra (LUNA). Other promising newcomers such as Celestia (TIA), Wormhole (W), and Bittensor (TAO) also bagged a listing on the exchange.
This timing indicates Binance’s belief in the future of the cryptocurrency market particularly as it concerns the Shiba Inu ecosystem. Binance remains consistent in backing the Shiba Inu ecosystem. It recently featured the memecoin in its Proof of Reserve (PoR) report, demonstrating transparency in its asset holdings.
BSC Network’s Impact on Shiba Inu
The listing of SHIB on the Binance Smart Chain (BSC) is set to bring about several positive impacts on the crypto asset. It will attract a broader user base, including those who previously could not trade Shiba Inu on the supported network.
Trading SHIB on BSC will also allow cost-effective transactions, which could potentially boost the volume of SHIB trades. Additionally, SHIB on BSC will enhance its utility in DeFi protocols as it will create new use cases and drive adoption and value.
Despite SHIB’s recent decline in price, investors and crypto enthusiasts have shown optimism about its trajectory. It is believed that it holds future prospects, considering its expanding adoption and increased utility on prominent exchanges.
The Binance Thailand listing is set to further boost this growth trajectory. According to CoinMarketCap, the digital asset is trading at $0.000023, down by 0.71% in the last 24 hours.
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