Bifinex Expands and Adds New Cryptocurrencies to its Exchange Platform

· 09 Apr 2018 in Crypto News, Home
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The craziness for cryptocurrencies is not over. One of the most important cryptocurrency exchanges in the market has decided to introduce 12 new tokens to its platform. Among the new virtual currencies, we find, Odem, Wax, and Loopring.

Bitfinex Adds Support to New Tokens

Bitfinex is the fifth most important cryptocurrency exchange by market volume. It has moved $363.47 million dollars in the last 24 hours. The most important trading pairs, accounting almost 80% of the total trading volume are BTC/USD, ETH/USD, and LTC/USD, a very traditional crypto trading market. In the top ten traded currencies we also find EOS, XRP, BCH, MIOTA and NEO.

Now, the crypto exchange will offer support for new tokens that are trying to increase their liquidity and reputation in the market. According to an announcement made by Bitfinex on April the 7th, the new tokens available to be traded will be:

  • Aion (AION)
  • IOSToken (IOST)
  • Request Network (REQ)
  • Raiden Network (RDN)
  • Loopring (LRC)
  • BnkToTheFuture Token (BFT)
  • (CFI)
  • WAX (WAX)
  • SingularityNET (AGI)
  • MedicalChain (MTN)
  • DAI (DAI)

The deposits and withdrawals have been enabled and trading activities will be available since April the 7th at 16:00 UTC.

Bitfinex’s press release reads as follows:

“The newly introduced token listings have a combined market capitalization of $1.1B+ USD and represent a significant addition to Bitfinex, offering our traders greater exposure to a broader range of innovative digital assets. From decentralized exchange protocols and payment solutions to scaling and blockchain 3.0, we are pleased to provide a platform of support and growth for these teams and their respective communities.”

All the tokens added will be available to be traded against different currencies. For example, they will be paired with BTC, ETH, and USD. According to the crypto exchange, marking trading and peer-to-peer funding markets will be enabled gradually as the order books develop sufficient liquidity.

As we have reported in the past, Bitfinex is evaluating the possibility to move its operations from Hong-Kong to Switzerland. In the Swiss city of Zug, cryptocurrency enterprises and blockchain-related businesses receive special treatment for the government. Additionally, the legislation is much more flexible than in other countries.

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