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Slowly but surely, the Asia-Pacific region is proving to be the global engine for grassroots crypto adoption, driving a 69% year-over-year increase in value received, according to the latest Chainalysis report.

Total crypto transaction volume in APAC grew from $1.4 trillion to $2.36 trillion, driven by robust engagement across major markets like India, Vietnam, Pakistan, and Indonesia.

However, this rapid growth also comes with a challenge for local crypto exchanges – how to build long-term, verifiable utility for their platform tokens that goes beyond speculative trading.

As Indonesia’s third-largest exchange by volume, Bittime believes it just might have the answer with the worldwide expansion of its platform token, Palapa ($PLPA).

The move is less about a simple international listing and more about demonstrating a sustainable model for utility tokens in a heavily retail-driven market.

The $PLPA token is designed to address a common failing of exchange tokens, where intrinsic demand stops at fee discounts.

To tackle this issue, Bittime has integrated a deep suite of benefits for $PLPA holders, making the token a necessary module for serious traders on its platform. This includes:

Yet despite the strong local foundation, the market performance of $PLPA suggests it may be significantly undervalued when compared to other regional platform tokens.

Following its listing on Indodax, Indonesia’s largest exchange, $PLPA experienced a notable surge of over 543%, hinting at suppressed demand and market belief in its mechanism.

“Bittime’s massive growth has the potential to drive an increase in the value and utility of the Palapa token,” Bittime’s CEO Ryan Lymn stated.

The buyback program aims to reduce the circulating supply and create a transparent, deflationary asset aligned with our platform’s profitability.

Palapa’s expansion is well-timed to capitalize on Indonesia’s favorable crypto stance.

The country’s commitment to building a regulated crypto sector is evident, with the market recently recording IDR 35.61 trillion (approx. $2.28 billion) in total crypto asset transactions, a 9.73% increase compared to the previous quarter.

This domestic growth positions Indonesia as a major force in the world’s digital asset space. Jimmy Siswanto, CEO of Palapa, added that the project is now ready to bridge this local innovation with international investors and communities.

“With Palapa’s strong market performance and defined growth path, we are strategically moving to explore global markets,” Siswanto noted.

We are committed to transparent governance, reliable token mechanisms, and sustainable ecosystem development as we target official data updates on data aggregators like CoinMarketCap and CoinGecko.

The plan is for these updates to provide tangible benefits to the community and Palapa investors.

Whether anchoring the token in powerful utility and scarcity (while riding the massive wave of Indonesian adoption) is a winning strategy remains to be seen.

Still, as it seeks to gain wider market exposure and investor confidence on the global stage, there is no denying Palapa has all the ingredients in place.

The post Indonesia’s Bittime banks on deflationary tokenomics for Palapa token’s global utility appeared first on Invezz

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