Crypto Exchange Bitrue to Add Cardano as Base PairMarch 8, 2022
Bitrue exchange has been around for years and is considered a modest platform among the crypto community members. According to the crypto market ranking by Coinintelligence, the exchange does not tie up among the giants like Coinbase, Kraken, Binance, and Bitstamp. However, the platform has managed to earn the trust of the users and establish its position as a trustworthy forum.
In 2019, the platform was hacked, which resulted in a loss of $4.2 million worth of XRP and ADA tokens. Recently, the platform has announced that it is planning to add more support for the Cardano network. The plans shared by the Bitrue management revealed that Cardano native token ADA is set to join the exchange as a base pair product.
At the initial stage, the ADA traders will be able to participate in the Initial Coin Offering or ICOs like BNT, KNC, GAS, FLUX, RSR, LOOM, CTSI, SNT, and DGB. The management of the Bitrue exchange has revealed that in the upcoming weeks, more new trading pairs will be available to the ADA holders. The Bitrue platform has worked alongside the Cardano network before as well.
The exchange platform was the first one to introduce a suite of DeFi solutions for the Cardano network. For making creating a forum for the developers, OccumFi was introduced to the masses. OccumFi paved the way for creating several potent staking pools with a collective AUM of 2 million ADA tokens. Bitrue CMO told media recently that the addition of ADA token as a base pair is a testament to the long-standing relationship of the platform with the Cardano network.
Chief Marketing Officer of Bitrue Adam O ‘Neil provided more details speaking to the media outlets on the matter of ADA affiliation. He claimed that the Cardano network has been able to come a long way during the last few years. He further explained that the Bitrue network would introduce around 10 trading pairs to facilitate their users.
Bitrue is focused on the broader international demographic of digital traders. The users can sell, purchase, lend, loan, and invest in cryptocurrencies. The exchange market has been around since 2018, and it has managed to gain some traction in the challenging and highly competitive cryptocurrency exchange industry since last year.