Tron’s TRX Coin Now Available For Perpetual Swap Trading On OKEx, OKCoin And ABCC Exchanges
TRX In Now Available For Perpetual Swap Trading On OKEx And Elsewhere
The ninth biggest crypto coin by market cap, TRX has been going through some tough times. However, the Tron foundation is foraging on with various activities around the coin. As a result, the coin is now listed on numerous exchanges, which includes Coingate. Additionally, the coin has been available for marginal trading on OKEx. Starting January 16, the coin was made available for perpetual swap trading.
What The Tron Foundation Thinks Of This
The Tron CEO was quite pleased with this move. He expressed gratitude to the community via Twitter. Outside the crypto market, Tron is doing quite well. It has been motivating the Tron community to become part of the foundation. Tron has been the only coin in the top 10 to avoid the bear even as other coins have continued to plummet in price.
Other Exchanges Listing TRX
Coingate has also listed TRX as payment for merchants. The news was reported on the Coingate blog. Coingate is a payment gateway and not an exchange. According to the blog post, Coingate said that they aimed to be part of the TRON ecosystem by enabling merchants and vendors to use TRX.
The ABCC exchange has also listed Tron. An official at Tron said that ABCC was a great platform, which had seen a lot of development. In the tweet, he said they were happy to work with the exchange, which had been the first to list TRX10 tokens.
Tron has managed to maintain its momentum with a listing on OKCoin, which has placed the coin in its main game. The announcement by the exchange stated that users could buy TRX with USD and Argentine pesos. From January 17, users could also start to trade TRX with BTC, USD, and ETH.
About Perpetual Swap Trading
Perpetual swap trading is a P2P virtual derivative that was developed by OKEx. It makes it possible for users to know the price in which a digital asset is headed. The mechanism is quite similar to a futures contract. However, it does not have a daily settlement or expiry. Each swap has the notional value of $100 BTC.
This product was launched on December 11, 2018, and will let users perform futures contract, perpetual swap, and spot trading with margin and leverage. This contract trading lets a user purchase and sells a digital asset at a specific time and price in the future. As a result, investors and traders can open both short and long positions.
The exchange’s Financial Market Director said during the launch announcement that they wanted users to keep in mind that they had to implement risk control measures. This was due to the highly leveraged nature of the product. In October last year, the exchange delisted over 50 trading pairs that had low volumes. Later in November, the exchange delisted another group of trading pairs due to weak liquidity.
Right now, OKEx is the world second biggest crypto exchange in daily trading volume. It sees about $523 million in trading volumes daily.