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Bitfinex Adds 12 New Cryptocurrencies to Its Existing Altcoin Portfolio

Bitfinex Adds 12 New Cryptocurrencies to Its Existing Altcoin Portfolio

One of the world’s largest cryptocurrency exchanges, Bitfinex, has just announced the addition of 12 new tokens to its trading platform.

Boasting of a 24-hour trade volume of more than USD $380 million, the online trading giant provides its customer base with a wide array of cutting-edge features that allow for seamless currency exchange. Some of these features include:

  • Advanced charting and prediction tools.
  • P2P financing schemes
  • Margin trading opportunities for a large number of alt-currencies.

As of April 7, Bitfinex now supports the following digital assets:

The aforementioned crypto coins possess a combined market value of over $1.1 billion and their addition is being viewed by many market analysts as having “significant” monetary potential for the company.

In an official media statement, Lean-Louis van der Velde, Chief Executive Officer of Bitfinex said:

“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 tokens as we believe that each serves to strengthen and enliven a unique aspect of the global blockchain ecosystem, and will offer new and exciting trading options for our users.”

It is also worth mentioning that the new tokens will be tradable against BTC, ETH, and USD and that margin trading and peer-to-peer lending markets will be “enabled gradually”, as and when order books start to develop sufficient liquidity.

Lastly, in the midst of all these announcements, Bitfinex devs also confirmed that they will be adding support for Ethereum-based stablecoin, DAI, to their platform.

By integrating DAI and USDT, Bitfinex aims to bridge the gap that exists between these disparate markets and hopes to facilitate new trading opportunities across a “diverse range of tokens, markets, and exchanges.”

Cover Photo by Aaron Burden on Unsplash

Posted In: , Altcoins, Crypto Exchanges

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Shiraz is a cryptocurrency journalist and analyst living in Melbourne, Australia. When not exploring the emerging blockchain ecosystem, he loves to play the blues and dabble in the world of meditation.

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