Monday, December 5, 2022

Cryptocurrency Exchange Bitfinex Adds 12 New Tokens for Trading

Cryptocurrency Exchange Bitfinex Adds 12 New Tokens for Trading

Beating Coinbase to the ERC20 punch, powerhouse crypto exchange Bitfinex has just added 12 new Ethereum tokens for trading. Standouts from the new listings include Raiden Network (RDN), Request Network (REQ), and the stablecoin Dai (DAI). 

Also see: Coinbase Reportedly in Talks with SEC to Become Licensed Brokerage

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Tokens Ahoy

Where cryptocurrency exchanges are concerned, getting bigger and better is the name of the game.

With Coinbase announcing ERC20 support and Binance announcing impending fiat-to-crypto functionalities, there’s a definite sense of a rat race in the space. Powerhouse exchange Bitfinex is doing its part to pull ahead in listing 12 new ERC20 tokens.

Bitfinex announced the development in a new Medium post, clarifying that the 12 newly listed tokens would be as follows:

The Race for Growth

The 12 aforementioned tokens aren’t necessarily the ones that Coinbase might eventually list, but for Bitfinex they do mark a significant expansion into the altcoin market. Bitfinex referred to the dozen as “high-quality projects” that are “pioneering research in various sectors of blockchain development.”

Bitfinex CEO Jean -Louis van der Velde noted of listings:

“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.”

So as traders seemingly want more and more in the cryptoverse, Bitfinex is launching an early bid to give it to them.

What’s your take? Would you like to see other top exchanges add more altcoins, or are you satisfied with where the market stands for now? Sound off in the comments below.

Images via NYT, Medium

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