Stellar (XLM) has received an exciting boost in Japanese markets with its recent listing on Binance, a major player in the cryptocurrency exchange space. This development has the potential to elevate Stellar’s exposure in Japan, boosting trading volumes and overall market presence.
Binance recently announced the introduction of new JPY trading pairs, including XLM/JPY, which is set to launch on January 9 at 8 a.m. UTC. This is part of Binance’s goal to expand trading options on its platform, enhancing the overall trading experience for users. The first batch includes not just XLM/JPY but also pairs like APT/JPY, PEPE/JPY, and SUI/JPY. A second wave of trading pairs, including IOTX/JPY and SEI/JPY, will follow on January 16.
In a bid to drive user engagement, Binance will implement a zero-maker fee promotion on the new JPY pairs. This promotion for XLM/JPY will run from January 9 to February 9, allowing traders to engage without fees during this limited timeframe. Such incentives are expected to stimulate liquidity and boost trading activity for Stellar in this thriving market.
The introduction of the JPY pair is particularly significant, as the Japanese Yen is Japan’s official currency. Notably, only Binance Japan users will be able to deposit and withdraw in JPY, increasing accessibility to XLM and potentially leading to higher trading volumes and greater adoption of Stellar in the region. As of now, XLM was trading at $0.455, showing a 1.19% increase in the last 24 hours and a substantial 36.35% rise over the past week.
Alongside XLM’s listing, Binance has made other exciting announcements, including trading launches for various pairs like BIO/USDC, HIVE/TRY, and more, scheduled for January 8. The exchange aims to increase the variety of available trading choices on its platform, further improving the user experience.
This move by Binance is encouraging news for Stellar supporters and investors alike, marking a turning point that may elevate Stellar’s status in the cryptocurrency community and Japanese financial markets. With this latest development, XLM looks poised to capture more attention and interest as it continues to grow.
