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At the end of 2023, not only New Year celebrations await before our eyes. There are several new coins and tokens that have appeared for the first time on the popular crypto trading platform in Indonesia.
In this article we will discuss several new coins and tokens emerging in 2023 that may not have achieved much momentum this year, but have the potential to skyrocket in 2024.
Daftar Isi.
New Coin Listing vs Initial Coin Offering (ICO)
Don't get confused, okay? initial coin offering (ICO) refers to the fundraising process for launching a new coin or crypto project. Meanwhile, newly listed coins or tokens are coins that have just begun to be available for buying and selling on a crypto exchange.
So, in this article you will probably find several names that have been available on the global market for quite a long time, but have only just appeared on the Indonesian market. Some of the reasons behind this phenomenon are:
- There is a crypto asset permit that needs to be obtained from CoFTRA before a crypto asset can start trading on the Indonesian crypto exchange
- There's a process due diligence what each of them did crypto exchange platform operating in Indonesia who determine whether a new coin or token is worthy of being launched on their exchange
7 Crypto Currencies First Released in Indonesia
In this article, the majority of new tokens and coins mentioned have just been released on the platform crypto exchanges local such as Indodax and Pintu. Following are the details of the list of new coins listed below:
1. Moonft (MTC)
Can be purchased at: Indodax
Moonft (MTC) is the token used in Moonft, all-in-one marketplace platform where users can buy, sell, and trade NFTs with various blockchains including BNB Chain, Polygon, Ethereum, and Solana. Apart from that, Moonft is also a one-stop platform for other NFT marketplaces such as Opensea, X2Y2, and Lookshare. The MTC token is integrated with the Moonft ecosystem, and has many functions, including:
- The total tokens owned will give users access to exclusive Moonft communities
- Tokens can function as votes in the system voting Moonft policy
- For staking tokens so get rewards direct
MTC is a blockchain token of Binance (BSC), and has been able to be purchased by investors in various parts of the world since April 2023. So far, only Indodax offers MTC in Indonesia for its users, starting from December 21, 2023.
2. BoneShibaSwap (BONE)
Can be purchased at: Indodax
BoneShibaSwap (BONE) is one of three tokens used on ShibaSwap, a decentralized trading platform (decentralized exchange/DEX). Different from the SHIB and LEASH tokens, BONE functions as a voting right for the Shiba Inu community that can be used for voting project proposal crypto ShibaSwap via the Shiba Inu Doggy DAO. Shiba Inu (SHIB) itself is actually a form of meme coin similar to the Dogecoin (DOGE) meme coin, Pepe (PEPE) meme coin, FLOKI (FLOKI) meme coin and Bonk (BONK) meme coin.
BONE is a token that operates on the Ethereum network (ERC-20), and for the first time listings on ShibaSwap in July 2021. So far, BONE can only be purchased by Indonesian investors who have an account on Indodax starting December 21, 2023.
3. Band Protocol (BAND)
Can be purchased at: Zipmex, Indodax, Pluang
Band Protocol (BAND) is a platform designed to provide valid and accountable data regarding various industries through the support of its user community called validators. The data in question is quite varied, for example weather data for a certain time period and the price of gold in a certain period.
This data was pulled from various corners of the internet, and checked by validators, which is appointed by the Band Protocol team from the group of people who purchased the most BAND tokens. These data will later be used by developers dApps. Apart from being used to determine validators, BAND tokens are also used for transactions on the Band Protocol network and also as a special payment tool for requesting specific data to answer a question. (per query basis).
BAND was originally an Ethereum (ERC-20) based token, but now uses Cosmos blockchain technology to develop its own network called Bandchain. The BAND token was first offered to the global market in September 2019. Zipmex was one of the first platforms to offer this token to investors in various parts of the world in 2021, although Indonesian investors only gained access to BAND in 2023.
4. Mines of Dalarnia (DAR)
Can be purchased at: Pluang, Indodax
Mines of Dalarnia (DAR) is a crypto gaming project that groups players into two teams: landowners (landowners) or miners (miners). In the chosen role, players have the opportunity to explore, mining, and participate in game asset trading. Also known as MoD, this game also offers challenges in the form of collecting rare items, completing missions, winning battles, and becoming a land owner. All of these activities generate DAR tokens, because MoD is a game play-to-earn.
The DAR token operates on two blockchain networks: Ethereum (ERC-20) and Binance (BSC). This token went on sale to investors on global markets in October 2021, and in Indonesia, was first offered as an investment option for user Pluang in March 2023 and followed by listings on Indodax in December 2023.
5. Yield Guild Games (YGG)
Can be purchased at: Door, Pluang, Bittime
Yield Guild Games (YGG) is gaming guild The world's first and largest web3 where players can discover new communities and games. Platforms decentralized autonomous organization (DAO) provides features for gamers to build their reputation in the web3 gaming world through missions such as Superquesting and the Guild Advancement Program.
Supported web3 games as of December 2023 are Axie Infinity, Big Time, Castaways, Castle Crush, Champions Ascension, Crypto Unicorns, ev.io, Illuvium, League of Kingdoms, My Pet Hooligan, Pixels, Splinterlands, and The Sandbox. YGG tokens are generated when guild members in this DAO play these games. This token can later be used for voting and exchanged for NFTs.
YGG operates on three blockchain networks, namely Ethereum, Solana, and Harmony. This token is the first time listings on the international market in July 2021. In Indonesia, YGG only started to be offered as an investment asset at the end of 2023 by Pintu and Pluang.
6. Echelon Prime (PRIME)
Can be purchased at: Door
Echelon Prime (PRIME) is a token released and used for the Echelon Prime Foundation, a Web3 ecosystem that aims to advance the next generation of gaming. Echelon Prime Foundation aims to create and distribute crypto projects that encourage innovation and promote the concept of the gaming economy (game economics) the new one. There is already one game that adopts and uses PRIME tokens in-game, namely Parallel, a card-based game sci-fi.
The PRIME token operates on the Ethereum and Base Blockchain networks. This token will begin to be offered as an investment asset in early 2023 and in Indonesia, only Pintu users will be able to buy PRIME as of December 2023.
7. Polymesh (POLYX)
Can be purchased at: Door, Pluang
Polymesh (POLYX) is a coin used on Polymesh, a blockchain network enterprise-grade which is specifically designed to store and transfer securities assets (e.g. shares) on the blockchain. Polymesh is under the auspices of The Polymesh Association which originates from Switerzerland.
The team that created Polymesh was previously involved in the development of Ethereum, but unlike that blockchain, Polymesh was designed as a blockchain that could meet the needs of compliance corporation because it is not intended for public users. There are several aspects of Polymesh that are different from blockchain systems in general, namely its emphasis on identity verification. Without identity verification, users cannot access the Polymesh blockchain. These identities then become the basis for the transaction process on the Polymesh blockchain. Despite these differences, Polymesh can be used for development decentralized application (dApps) as well as public blockchains such as Solana and Ethereum.
Coins POLYX on the Polymesh network is used to pay transaction fees and as voting rights for voting proposals. POLYX was first offered in October 2021, and in Indonesia, investors will be able to own this new coin as of December 2023.
FAQ for New Coin Listings that Have Potential in Indonesia
What new coins are coming out?
In this article, there are seven new tokens discussed, namely Moonft (MTC), BoneShibaInu (BONE), Band Protocol (BAND), Mines of Dalarnia (DAR), Yield Guild Games (YGG), Echelon Prime (PRIME), and Polymesh ( POLYX). There may be other cryptocurrencies that have not been discussed on this list and will just be released in December 2023. To get information on new coin listings, it's a good idea to check the site crypto exchange popular in Indonesia to get the latest information.
What cryptos are made in Indonesia?
On average, cryptocurrencies created in Indonesia are in the form of tokens, such as Pintu Tokens (PTU) and Toko Tokens (TKO). There are also crypto projects such as NFTs which are quite unique and involve many well-known Indonesian celebrities.
How to get new crypto coins before they are released?
To get your hands on a new cryptocurrency before it's released, either in the form of coins or tokens, you'll need to opt in initial coin offering (ICO). There are several local platforms that support ICO, one of which is Tokocrypto's T-Launchpad.
Who determines the price of crypto coins?
Coin price crypto which has been released on the market is completely determined by conditions demand/supply at a certain time. The more popular a small coin is, the higher the price. So, in this situation the buyer determines the price. However, specifically for newly listed cryptocurrencies, the price will be set by the relevant crypto project team.
Where can I get new crypto coins?
If you want to get your hands on a new crypto coin that hasn't been released yet, you have to take part in an ICO. But if you just want to increase assets crypto that you've never had before, check the app or site crypto exchange in Indonesia to find out the latest information regarding coin projects that have just been listed on the platform.
What currency is XRP?
XRP is Ripple's blockchain cryptocurrency.
