Phemex, a prime cryptocurrency trading platform providing each spot markets and derivatives, has all the time targeted on high quality over amount. Particularly in the case of the devices listed on the platform. For a lot of its existence, Phemex solely supported probably the most well-known cryptocurrencies like Bitcoin, Ethereum, XRP, and Litecoin.
Over time, the asset checklist grew with a few of the oldest property (similar to gold) being added, as demand from buyers rose in 2020. And capping off what has been an unbelievable yr for crypto, Phemex has listed 7 new choose tokens to its crypto coin checklist: ADA/USD, ALGO/USD, COMP/USD, DOT/USD, LEND/USD, YFI/USD, and BCH/USD. All pairs are linear perpetual contracts quoted and settled in USD providing as much as 20x leverage. Right here’s why the platform added the ultra-hot, trending tokens and why this stamp of approval is a big nod for the brand new cryptocurrency sub-sector.
2020: Bitcoin Breaks ATH, Altcoins Soar, DeFi Blossoms
2020 began off with the pandemic and a large Black Thursday selloff. However Bitcoin and the remainder of the cryptocurrency market have recovered and have carried out exceptionally nicely since.
The asset class beat all different investments, and what actually modified the tides for Bitcoin and altcoins in 2020 was the emergence of decentralized finance, also referred to as DeFi.
Tokens within the class, most constructed on Ethereum sensible contracts, soared in worth, curiosity, and utilization, in contrast to the final crypto bubble. Actual-world adoption is occurring within the DeFi house, inflicting these property to leapfrog different altcoins with way more longevity available in the market.
Chainlink, for instance, raced previous Litecoin in rankings. The DeFi token earned an award as a tech pioneer. It’s clear that DeFi has actual value and isn’t simply hypothesis that prompted the sentiment shift in crypto years in the past.
Why Phemex Selected To Add DeFi Tokens To Checklist Of High quality Cash
As a result of Phemex has all the time stood for high quality that’s second to none, they’ve lengthy been choosy concerning the tokens that they checklist on their platform and which markets they expose their loyal customers to.
For the longest time, solely probably the most trusted crypto-assets like Bitcoin, Ethereum, and even property trusted for hundreds of years like gold had been obtainable. However given the excellent efficiency, curiosity, and potential in DeFi, Phemex selected to checklist a number of new tokens not too long ago.
Included within the checklist of crypto derivatives contracts for DeFi tokens is Uniswap, Yearn.Finance, and Compound – a number of of the most popular DeFi tokens buying and selling anyplace within the house.
Phemex added the tokens to reply to the simple progress and pattern within the tokens. The main focus can be on turning into a one-stop-shop in spot and derivatives buying and selling and offering probably the most buying and selling choices in CeFi and DeFi discovered anyplace.
And since Phemex has solely included one of the best of one of the best, customers can relaxation assured that the platform’s status for sustaining high-quality requirements for cash will proceed for the lengthy haul.
Why The Itemizing Of DeFi Tokens On Phemex Is Notable
As for why that is essential, think about an analogy between cryptocurrencies and a significant wholesale retailer like Costco. At a superstore like that, it’s a problem to take care of high quality with so many SKUs. As extra SKUs are added, high quality management goes out the window in favor of amount. At Phemex, solely the strongest crypto property with actual potential are ever thought of.
Take Uniswap or Yearn.Finance, for instance. Each tokens are available tow with a whole ecosystem constructed round them. As that ecosystem advances, the worth of the underlying tokens will blossom. These property are even alleged to outperform Bitcoin sooner or later, making their current addition on Phemex all that extra notable.
Phemex merchants or these contemplating the platform can now commerce these high quality DeFi tokens through derivatives contracts. To Be taught extra about these crypto-assets, comply with the crypto market intently on Phemex.
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