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Bittrex Global exchange token launching in June

Bittrex Global exchange token

A Bittrex Global exchange token is set to be launched in the market in June. Though details of the launch are scanty, the once high profile exchange is trying to recapture its market share that has been diminishing. The launch will see the platform join other exchanges that have their native tokens.

Bittrex Global exchange token

Photo source: Twitter

There is a lot of realignment in the industry with some exchanges hiring additional staff while others are expanding their networks to new markets. For Bittrex Global, it appears they have chosen to launch a token. This will increase their global visibility as they seek to regain their lost glory.

Bittrex Global exchange token new listing

The Bittrex Global exchange token, however, will not be open to the U.S. customers. Bittrex’s performance has not been up to par especially the last two years. Though the Bittrex Global brand started operation in 2019, it has partnered the Bittrex International and rides on its underlying technology as well.

Bittrex Global chose to operate from Liechtenstein since U.S. based crypto exchanges do not have their own token offerings. The U.S. Securities and Exchange Commission (SEC) regulations prohibit single business token. Exchanges are required to prove that their tokens fall under securities.

Bittrex Global exchange token to boost adoption

The once-flourishing exchange has watched is popularity continues to diminish the past two years. However, the Bittrex global exchange listing might see new onboarding. Its market share has been experiencing a downtrend especially last year when it commanded a paltry one percent of the exchange market.

The entry into the token economy will see the platform compete with other high profile exchanges that have their native tokens. Some of these exchanges include tokens like Binance token, Huobi token, KuCoin shares and OKB from Binance, Huobi, KuCoin, and OKeX exchanges respectively.  However, it remains to be seen whether it will match the discounts the competition is offering their customers.

Albert Kim

Albert Kim

Albert Kim is a full time tech content developer and writer specializing in blockchain and cryptocurrencies. He has been in the tech industry for the last 7 years helping businesses scale up their potential to the next level.

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