Crypto-exchange-ABRA-adds-support-for-significant-altcoins-EOS-and-Siacoin

ABRA, the crypto trading platform has recently announced the introduction of two new altcoins from the list of top-50 crypto. EOS and Siacoin are set to enjoy a listing as a supported digital asset on ABRA's trading platform.

In the official twitter post, ABRA made the exciting announcement which explained that users can now start investing or trading with EOS/USD and SC/USD pairs.

Background

The exchange announced that both Siacoin and EOS would be listed as synthetic currencies to allow for a seamless exchange between the different digital assets on the platform. The announcement reads:

“Both EOS and Siacoin are listed on ABRA as artificial currencies. ABRA's currency uses crypto-collateralized crypto assets to securely and efficiently store and move value amongst different assets. The underlying synthetic currency also allows for ABRA's non0custodial wallet setup and provides a platform for future financial innovation.”

ABRA also announced that the addition of EOS and SC elevates the platform's available cryptocurrencies to 30. This is in addition to the 50 fiat currencies already available plus the unique BIT10 crypto index.

Gaining Attention

The addition of EOS and SC may not come as a surprise with the two altcoins grabbing attention since their initial development. Both are ranked 6th and 39th respectively AltDex's 100 Cryptocurrency Index (ALT100).

EOS, for example, managed to attract a lot of interest during its crowdfunding round lasting a whole year. The funding also broke records by raising over $4 billion, enough resources for the token to build itself up.

The EOS token is the native currency of EOSIO network, a blockchain built to operate as a decentralized operating system. Therefore, EOS is set to become a necessary tool for developers looking to develop customized decentralized applications.

The Siacoin is also a native token to a network with its formation back in 2015. The Sia network acts as a decentralized data storage infrastructure to connect people with available computing storage to people in need of that space. In sorts, it's a rental model trying to disrupt the existing model of data ownership and management.

A good reason for picking Siacoin lies in its maturity within the crypto space. The venture is older than most merging crypto projects, and this justifies its addition according to ABRA.

Continued Development

The addition of EOS and Siacoin set ABRA on more expansion within the cryptocurrency industry.

The recent announcement also comes barely two months since the platform made the Bitwise 10 Crypto Index (BIT10) launch. Under the BIT10 Index, ABRA could potentially gain exposure to over 80% of the crypto market through a single investment vehicle.

About ABRA

ABRA is a crypto investment and trading platform founded by Bill Barhydt, an entrepreneur with over two decades of experience in payments services. The firm headquartered in Silicon Valley prides itself on providing simple cryptocurrency investment with its open, global financial system, accessible to everyone.

[FREE] Get Our Best Crypto Trading, Mining & Investing Hacks:

*Action Required* Enter Your Email To Get Insight For Trending Coin News & Reviews

I will never give away, trade or sell your email address. You can unsubscribe at any time.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

two × three =