Bitfinex is now trading Stellar (XLM) and Verge (XVG), two tokens that rank in the top 30 cryptocurrencies by value. Stellar sits at number eight with an $8.2 billion market cap while Verge comes in a
Bitfinex is now trading Stellar (XLM) and Verge (XVG), two tokens that rank in the top 30 cryptocurrencies by value. Stellar sits at number eight with an $8.2 billion market cap while Verge comes in at 23 with $1.2 billion, combining for $9+ billion in total market capitalization.
The Hong Kong exchange has been on an expansion spree. Since launching in 2012, Bitfinex rolled out support for a dozen additional tokens last month, among them Aion, Raiden Network, Request Network, IOSToken, and Loopring. Recent data shows the exchange processed nearly $1.1 billion in trading volume over a 24-hour period.
Jean-Louis van der Velde, Bitfinex's chief executive, explained the company's rationale in a statement: "Adding Stellar and Verge to our platform underlines our commitment to extend the reach of Bitfinex traders to the most exciting investment opportunities in the space. With a stellar combined market cap of $9+ billion, these elite tokens bolster our growing array of tokens as we continue to anticipate the needs and demands of the digital asset community."
The exchange provides three primary services: peer-to-peer financing, over-the-counter trading, and margin trading across its full range of digital assets.
"Today's announcement continues the strong wave of activity within the Bitfinex community, following the addition of 12 new tokens to our platform," van der Velde continued. "We look forward to maintaining this positive momentum in the weeks and months ahead."
Other platforms are racing to broaden their token selections as investors demand more exposure. Wirex, which operates a Bitcoin debit card, announced yesterday that cardholders can spend Litecoin. The company predicts Litecoin will become a mainstream payment method.
eToro, a global investment platform, has followed a similar strategy. It added NEO in February after supporting Stellar, and also integrated EOS. The platform currently offers Bitcoin, Ethereum, BCH, XRP, Litecoin, Ethereum Classic, and Dash.
