Binance Thailand Expands Crypto Offerings with LUNC, SHIB, and More

In a move to broaden trading options for Thai users, Binance TH, a joint venture between Binance and Gulf Energy, announced the listing of several trending cryptocurrencies and existing tokens on new networks. This expansion, effective June 11th, aims to cater to domestic user demand and potentially reignite interest in specific tokens.

New Tokens on Binance TH

The highlight of the announcement is the addition of ten new cryptocurrencies for trading. These include Terra Classic (LUNC), USTC, Terra (LUNA), Shiba Inu (SHIB), Celestia (TIA), Wormhole (W), Bittensor (TAO), and others. Notably, the inclusion of LUNC, USTC, and LUNA comes amidst ongoing demand from Thai users and is seen by the Terra Luna Classic community as a positive sign for these tokens.

Trading Pairs and Network Support

Users will be able to trade the newly listed tokens in USDT pairs starting June 11th at 2:00 PM local time. Additionally, Binance TH is expanding support for existing tokens on various networks. This includes listing ETH on Base, Arbitrum, and Optimism; USDT on Arbitrum, Optimism, and Avax C-chain; and WAVES and SHIB on BSC.

Potential Price Rebound for LUNC, USTC, and SHIB?

The announcement comes amidst a recent market downturn, with altcoin prices experiencing a drop in the last 24 hours. LUNC, USTC, and SHIB are no exception, with their prices falling by 10%, 12%, and 6% respectively. However, market experts remain optimistic about a potential rebound as inflation cools.

LUNC and USTC Price Dip

LUNC’s price currently sits at $0.0001064, having erased some recent gains anticipated by traders. Similarly, USTC’s price fell to $0.02145, wiping out 22% of its monthly gains.

Shiba Inu’s Potential Rally

Despite the price drop, SHIB’s trading volume has increased by over 80% in the last 24 hours. This suggests continued interest in the token, and some analysts believe it might resume its rally after a brief pause.

The expansion by Binance TH offers Thai users a wider range of crypto options and reflects the exchange’s commitment to cater to the evolving needs of the local market. Whether this move translates to a price surge for LUNC, USTC, and SHIB remains to be seen, but it certainly injects a dose of optimism into the Thai crypto landscape.

By Alex Wheeler

Alex is a lead writer at AltcoinsAnalysis, bringing the audience all leading developments in the blockchain industry and the latest trends in the cryptocurrency market.