Binance Introduces New Trading Pairs with Japanese Yen, Popular Altcoins Decline

Binance to Introduce New Trading Pairs with Japanese Yen, Altcoins Decline in Value

Binance, the world’s leading cryptocurrency exchange, is set to introduce new trading pairs with the Japanese yen later this week. The new pairs, including XRP/JPY, SHIB/JPY, ADA/JPY, and SOL/JPY, will be available on Binance Spot starting April 30. This move aims to enhance the user experience and provide more options for traders.

In addition to the new trading pairs, Binance will also enable trading bots services for the aforementioned cryptocurrencies on the same day. Users trading with the Japanese yen will enjoy zero maker and taker fees until further notice, making it more attractive for locals to enter the cryptocurrency market.

Despite the new listings on Binance, popular altcoins like Ripple (XRP), Shiba Inu (SHIB), Cardano (ADA), and Solana (SOL) are currently declining in value. This decline comes amid an overall market correction, despite the usual price surges that accompany official listings on Binance.

Binance has been making several updates to its trading program since the beginning of the year, including listing new digital currencies and delisting existing ones due to various factors such as poor liquidity. In March, the exchange introduced new trading pairs and removed popular altcoins like Monero (XMR) and Aragon (ANT).

April also saw several developments on Binance, including the addition of 18 new loanable assets to Binance Loan. With these continuous updates and new offerings, Binance remains at the forefront of the cryptocurrency industry, providing users with more options and opportunities for trading.