Altcoin Market Signals Recovery, Bitfinex Lists 12 New ERC20 Tokens


In its most recent declaration, Bitfinex presented 12 new ERC20 tokens on its exchanging stage. The trade made an uncommon notice of the steady coin Dai that is the principle contender of Tether (USDT) which holds an indistinguishable CEO from Bitfinex purportedly.

Bitfinex presents 12 new ERC20 tokens for BTC, ETH, and USD exchanging sets

One of the biggest bitcoin trade stages, Bitfinex as of late took to Medium to declare the posting of 12 new altcoins on its exchanging stage:

“We are excited to introduce trading for a diverse set of tokens, each focused around strengthening the impact and capacity of decentralised technologies.”

The rundown of these recently bolstered altcoins incorporates (AION), BnkToTheFuture Token (BFT), (CFI), (DAI), IOStoken (IOST), Loopring (LRC), Medicalchain (MTN), (ODEM), Raiden Network (RDN), Request Network (REQ), SingularityNET (AGI) and (WAX).

Jean-Louis van der Velde, the CEO of Bitfinex communicates the presentation of new postings with:

“The introduction of such a large selection of tokens, representing a diverse array of blockchain-based projects, marks an exciting development for Bitfinex. We are proud to introduce these as we believe that each token serves to strengthen and enliven a unique aspect of the global blockchain ecosystem, and will offer new and exciting trading options for our users.”

For the new introductions, the trading pairs of BTC, ETH, and USD went live on April 7 at 4 PM UTC. The exchange clarifies that as liquidity develops, the “margin trading and peer-to-peer funding markets will be enabled gradually.”

Bitfinex further acknowledges that all the new listings have a combined market capitalization of $1.1B+ USD that will offer greater exposure to its traders.

USDT competitor “Stablecoin Dai” gets special mention

In its announcement, Bitfinex made a special mention of DAI token which is a decentralized stable coin on ETH platform. The blog points out that though initially, DAI would be available for trading against BTC, ETH, and USD, the exchange will introduce additional trading pairs for the token in future.

The point worth noting here is the stable coin DAI is in direct competition with another major stable coin, Tether and Bitfinex share the same directors i.e. Jean-Louis van der Velde. With this combine integration, the exchange aims to “to connect currently disparate markets and facilitate new trading opportunities across a diverse range of tokens, markets, and exchanges.”

The introduction of BnkToTheFuture token also holds value as it seems to own shares in the exchange. Moreover, in August 2016, Bitfinex signed a letter of intent with BnkToTheFuture “to provide solutions towards compensating customers with equity in Bitfinex.”

With these 12 new listings of ERC20 tokens, Bitfinex is trying to meet the expectation of its traders and will further work towards expanding its services.

Do you think the listing of DAI holds great significance here? How do you think it can affect its competitor USDT?

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