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Jakarta, Indonesia – Shares of PT Indokripto Koin Semesta Tbk (COIN) experienced another decline on Thursday, January 8, 2026, continuing a recent downward trend sparked by the emergence of a new cryptocurrency exchange, International Crypto exchange (ICEX), backed by Kalimantan businessman Haji Isam.This development introduces a new dynamic to Indonesia’s growing digital asset market.
Data from the Indonesia Stock Exchange (BEI) indicated that COIN shares fell by 5.38 percent, closing at IDR 3,340 per unit during the first trading session on Thursday. This follows a more significant drop of 11.31 percent the previous day, signaling growing investor concern. indonesian Stock Exchange
Impact of ICEX competition
Capital market observer Michael Yeoh suggests that the arrival of ICEX will intensify competition within the Indonesian crypto exchange landscape. He specifically noted that ICEX poses a direct challenge to COIN, which is owned by Hashim. “The presence of Haji Isam’s ICEX exchange will be a challenge for COIN itself,” Yeoh stated on Thursday.
Current Market Dynamics
Despite the increased competition, Yeoh emphasized that the impact on the overall market structure is not expected to be immediate.The long-term effects will depend on ICEX’s ability to attract users and establish a strong market presence. The Indonesian crypto market has seen ample growth in recent years, attracting both domestic and international investors. bank Indonesia
Looking Ahead
The entrance of ICEX into the Indonesian crypto exchange market is a significant development that warrants close monitoring. While the immediate impact on COIN may be limited, the increased competition is likely to benefit consumers through potentially lower fees and more innovative services. Investors will be closely watching how both COIN and ICEX navigate this evolving landscape in the coming months. The future success of both exchanges will depend on their ability to adapt to changing market conditions and regulatory requirements.
Publication Date: 2026/01/08 07:25:06
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