Binance Japan's Path To '100 Currencies' — Where It's At Now, Plus: ARKM Token Rallies
Portfolio Pulse from Khyathi Dalal
Binance Japan, a subsidiary of Binance (CRYPTO: BNB), is expanding its offerings by adding 13 new tokens to spot transactions starting Nov. 27. The additions are part of Binance's goal to trade 100 currencies and include tokens such as Hedera Hashgraph (HBAR), Near Protocol (NEAR), and Decentraland (MANA). Four tokens will also be part of Binance's 'Simple Earn' service. Binance Japan's expansion follows the exit of Coinbase and Kraken from the Japanese market earlier in 2023. In related news, Binance Labs invested in ARKM, the native token of Arkham, which surged 17% following the announcement.
November 15, 2023 | 8:01 pm
News sentiment analysis
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POSITIVE IMPACT
Binance's expansion in Japan with 13 new tokens and the investment in ARKM may positively influence Binance Coin (BNB) as it reflects the company's growth and adoption in the Japanese market.
The addition of new tokens and services by Binance Japan is likely to increase trading volumes and user engagement, which could have a positive impact on the demand for Binance Coin (BNB) in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Decentraland (MANA) is included in the new tokens added to Binance Japan's offerings, which could enhance its visibility and trading activity in the Japanese market.
The inclusion of MANA in Binance Japan's expanded offerings may attract more traders and investors, potentially leading to a short-term price increase for the token.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Near Protocol (NEAR) is one of the 13 new tokens added to Binance Japan's spot transactions and will be included in the 'Simple Earn' service, potentially increasing its exposure and demand.
Being added to Binance Japan and included in a lending service could lead to increased liquidity and interest in Near Protocol (NEAR), which might drive up its price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70