Binance Expands Trading Options for PHA, STEEM, PLN, and USUAL; Phala Network Launches Ethereum Layer 2 Solution
Key Highlights:
- Binance introduces new trading pairs for PHA, STEEM, USUAL, and PLN, improving spot trading and bot services.
- Phala Network launches Layer 2 solution on Ethereum with advanced cryptographic computing features.
- Despite expanded trading support, PHA, STEEM, and USUAL experience price fluctuations amid broader market trends.
Binance has broadened its trading options, adding pairs for Phala Network (PHA), Steem (STEEM), Usual (USUAL), and Polish Zloty (PLN). The new pairs, such as PHA/USDC and STEEM/USDC, become available on January 10, enhancing liquidity and user accessibility. This update also includes trading bot services for advanced trading strategies, though users in restricted regions like the US, Canada, and North Korea remain unable to access these pairs due to regulatory limitations. 
Phala Network’s Ethereum Expansion
Phala Network, part of the Polkadot ecosystem, has launched a Layer 2 rollup on Ethereum, developed with Succinct Labs and Conduit. This rollup uses OP Succinct technology, combining optimistic and zero-knowledge proofs for enhanced privacy and security. The project’s TEE (Trusted Execution Environment) technology supports private smart contracts, boosting AI-powered dApp capabilities.
Market Performance
- PHA: Dropped 13% in 24 hours, trading at $0.297 with a monthly gain of 82%.
- STEEM: Traded at $0.3028, up 26% for the month.
- USUAL: Down 11%, priced at $0.65, reflecting market volatility.
Impact of New Listings
While Binance’s new listings aim to increase visibility and liquidity, bearish market conditions have affected token performance. Nonetheless, listings on major exchanges like Binance often enhance investor confidence, potentially spurring recovery and future rallies.
Phala’s Layer 2 rollout and Binance’s trading expansion highlight ongoing developments in the crypto space despite market turbulence. Further updates are anticipated as these tokens gain traction across broader ecosystems.
