Phemex’s latest 59 coin listings give traders a taste of Avalanche and more from CoinQuora

Phemex’s latest 59 coin listings give traders a taste of Avalanche and more

Cryptocurrencies are undeniably gaining mainstream recognition. Traders of all levels start entering the room. With various new projects and coins launching regularly, there is no doubt that crypto adoption is increasing. In fact, the number of people owning cryptocurrencies nearly doubled at the start of the year to roughly 220 million, bringing more money into the market in 2021 than the past five years combined.

Singapore’s top cryptocurrency exchange Phemex understands that the cryptocurrency markets are constantly evolving. The platform has announced the addition of 59 new coins to its selection of trading pairs in response to the increasing demand for investment opportunities within the crypto community. Some of the most popular cryptocurrencies are represented, as well as some emerging tokens with the potential to have a significant impact on the field.

Notable coins listed on Phemex

With this new listing, Phemex offers traders and crypto enthusiasts access to some of the most popular cryptocurrencies on the market.

Blockchain was developed in 2020 by Ava Labs, a company founded by respected cryptocurrency advocate and Cornell University professor Emin Gun Sirer. The Avalanche network offers developers a variety of advantages over other decentralized smart contract-enabled proof-of-stake blockchains, including higher throughput, custom, scalable VMs, and split-second finality.

The Avalanche ecosystem has grown in recent years to include decentralized exchanges, synthetic assets, prediction markets, stablecoins, ILOs, and private securities. The Avalanche project is making waves in the crypto community and has the potential to become a far bigger player in the broader arena of decentralized finance thanks to its groundbreaking consensus protocol and unprecedented decentralization.

Here are some of the notable coins that will be listed:

Avalanche (AVAX)

Avalanche (AVAX) is a smart contract blockchain platform focused on fast transaction speeds, green performance, and low costs. The Avalanche ecosystem consists of three blockchains, with each parallel blockchain specializing in different operations.

The distribution of tasks between chains helps keep the Avalanche platform agile and allows it to solve one of the most important problems in the DLT industry – the blockchain trilemma – and a decentralized, secure and scalable network without compromise to accomplish.

Trader Joe (JOE)

Trader Joe (JOE) is a decentralized finance (DeFi) protocol that continues to drive new developments. As an AMM-based DEX built on top of the Avalanche blockchain, the main goal of the project is to provide a clearing and trading service, but Trader Joe also offers other essential DeFi features such as staking, yield farming and lending.

Stargate (STG)

Stargate (STG) is a cross-chain bridge based on the LayerZero protocol that enables native asset transfers between different blockchain networks.

Designed to eliminate the need for wrapped tokens, the protocol allows users to send tokens directly to blockchains that don’t natively support them. The protocol is based on uniform pools of liquidity shared by the chains to ensure instant and guaranteed finality. Stargate’s goal is to make cross-chain bridging a seamless process that requires only a single transaction.

(ETC)

Classic (ETC) was launched as a hard fork of the Ethereum (ETH) network following a community dispute that took place after the 2016 DAO hack. The Ethereum Classic blockchain supports smart contracts and decentralized applications and manages its own Ethereum Classic tokens.

The blockchain uses the proof-of-work protocol to validate transactions, which requires computing resources to mine ETC, and could still provide a revenue-generating opportunity for ETH miners who aren’t too enthusiastic about the move from Ethereum to proof- are of stake.

(HYPHEN)

Dash offers cheap and fast payments anywhere in the world. While the project is based on , it consists of a two-tier network structure. The first tier is a Proof-of-Work (PoW) system, where mining devices solve complex mathematical problems to validate transactions.

The second level includes masternodes. Anyone who proves ownership of 1,000 Dash can operate a masternode. These masternodes are responsible for Dash’s InstantSend and CoinJoin functions and are also allowed to vote on governance and funding proposals.

Visit Phemex’s website to see the full list of newly added tokens.

Start investing with Phemex

Phemex gives traders and investors the opportunity to diversify their portfolios with a variety of assets. Aside from the already wide range of trading pairs available on the Phemex platform, you can now trade 59 more tokens, including some of the most popular cryptocurrencies on the market.

To support its new listings, Phemex is launching the AVAXPress campaign where users can gain AVAX through spot trading.

With advanced trading features and a dedicated academy portal to make it easy for new traders to get started, Phemex strives to provide a great trading experience for all types of investors. It grants 24/7 customer support, a great community, and a wide range of tools to help you make the most of your trading journey. Don’t miss the opportunity to trade some of the most exciting coins on the market.

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