Industry
Crypto Exchange KuCoin Lists Digitex Futures’ Native Token DGTX
Bitcoinist | Jul 01, 2020 | 11:05
KuCoin, is one of the world’s most popular cryptocurrency exchanges with over 5 million registered users across the globe. The crypto exchange has listed a new coin, the native token of Digitex Futures, DGTX with two trading pairs.
KuCoin Introduces Two DGTX Trading Pairs As Part of New Token Listing
Starting July 3, DGTX/BTC and DGTX/ETH will begin trading on KuCoin. Deposits will be enabled 24 hours in advance in anticipation of the listing going live.
KuCoin, founded in 2017, became synonymous with the cryptocurrency market at this time, earning it the title of “the people’s exchange.”
The crypto exchange is known for giving its users what they want. They often listen to customer feedback, which influences what features or tokens get added to the platform.
Due to growing demand following the April mainnet launch and the upcoming full launch of Digitex Futures’ flagship futures trading platform, KuCoin has listed DGTX.
Exchange Listing Is Response To Rapidly Growing Demand For Digitex Futures
Digitex Futures has been onboarding users over the last several weeks, gearing up for the highly anticipated launch of its zero-fee futures trading platform which the token underpins.
Native exchange tokens must offer utility and value for demand to exist. The DGTX token is integral to the entire Digitex Future experience – it is the only way for traders to access zero-fee trading on the platform.
All account balances are denominated in DGTX and PnL is settled with the token. The innovative take on commission-free trading has put not only the token but the platform itself in high demand.
A full launch is scheduled in the coming weeks, and later a spot market will also debut alongside the company’s flagship futures trading product.
In addition, Digitex Futures will also be adding new markets to the platform in the coming months. An ETHUSD perpetual contract based on the second-ranked cryptocurrency by market cap, Ethereum, will be added next. However, the firm will also add contracts against traditional assets such as gold, oil, and forex currencies.
Gold, oil, and forex are especially attractive currently due to the explosive volatility surging throughout these traditional markets.
Digitex Futures CEO Adam Todd says the move to add traditional markets is to attract a “wider net of traders” and expose the current “core base of crypto traders to traditional markets.”
With DGTX reaching an entirely new user base through KuCoin, more platforms will likely follow suit with token listings ahead of the full platform rollout. And with more markets on the way, Digitex Futures’ user base will also thrive.
Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.
