With the growing popularity of digital assets, the need for trading platforms that enable users to move between different assets has also increased. Many digital assets count on listing in exchange platforms as a means to grow and increase their reach and improve flexibility in their use cases. Bibox Token (BIX) is a relatively new Chinese based crypto exchange platform developed to allow traders make trades between different altcoins. The team involved in the creation of the platform consists some big players in the crypto industry. Their extensive experience in the industry and the skills they bring together make the exchange one of the most interesting players to look out for in the crypto industry.
Trade volumes in the young exchange have continued to grow closing the gap with the top 10 exchanges currently available in the market. It currently ranks 16th with trade volumes of about USD 150 million. Cryptocurrencies and other altcoins can be traded on the platform in over 120 pairs.
The Bibox token (BIX) is the 2nd, 3rd and 6th most traded on the platform against the USDT, ETH and BTC respectively. The list is currently dominated by bitMEX, OKEx, Huobi, Binance and bitfinex which hold the top 5 positions respectively. The platform’s native token, the BIX token is still trading at a market capitalization of USD 93 million, a value which is seen to be below the exchange platform’s true potential.
The token is seen as one of the best picks for the year alongside other coins such as the ICX, Pareto among others. Its mainnet set for launch within a week is also set to further strengthen the exchange’s place in the market and further push the token’s price up. Since the beginning of the month, Bibox has listed the LinkCoin token (LKN), red token (RED) and Insights network (INSTAR). A new Trading pair, the EOS/USDT was also added for margin trades. Other than token listings, Bibox has also participated in the launch of the TRON mainnet and token migration and has announced its participation in the launch of the BTM and EOS mainnets and their respective token swaps.
Markets are a feature in crypto exchange platforms through which traders can access trades between a single coin and other coins. Bibox has added the BIX market through which traders can exchange BIX tokens with a variety of other tokens and digital coins. This is in addition to the ETH, BTC, USDT and DAI markets that existed already on the exchange. Markets make the process of initiating and completing trades easier by putting trading pairs involving a single token in the same place.
This month has also seen Bibox Token (BIX) launch CunBiBao, a financial product based on digital assets. The platform allows users to invest in projects and lock in their investment for a certain period of time. Interest is calculated based on the investment period and the lock position creating an opportunity for investors to invest and earn using their digital assets. Currently, the financial product is available for users with BIX, BTC, HPB, BTO CPC and MOT token holders.