Bittrex announces listing of IoTeX’s token

US-based cryptocurrency exchange Bittrex announced the listing of IoTeX’s token IOTX, a MachineFi-focused blockchain project that just recently celebrated four years since its first code release.

Bittrex, founded in Seattle, currently ranks 23 out of 306 crypto exchanges on CoinMarketCap with nearly $90 million in daily trading volume.

Founded in 2014 in Seattle by three cybersecurity engineers, Bittrex boasts over 500,000 daily users and offers the trading of more than 300 cryptocurrencies.

Bittrex has over 1 million Twitter followers.Along with its half-a-million active daily users, it exposes many new users to the IOTX token and provides IoTeX crypto enthusiasts with a new cryptocurrency exchange.

According to an Investopedia review, Bittrex offers very low fees compared with other large exchanges and is widely available. “Bittrex is an established, centralized cryptocurrency exchange offering a wide selection of supported assets,” the review adds. “Multiple order types are available, including stop, stop limit, trailing stop, and ladder limit.”

The report says, “Bittrex supports over 360 cryptocurrencies. This wide selection of assets makes it an attractive platform for those looking to trade popular coins and lesser-known options.”

The trading experience on Bittrex is relatively straightforward. Users can easily make trades or purchase cryptocurrency with a debit card, bank account, or Bittrex account balance. Crypto enthusiasts can log in to their trading dashboard via their desktop or the exchange’s Android and iOS mobile apps. Its desktop interface offers a simple “Instant Buy/Sell” option. 

For IoTeX, it is a further step towards increasing IOTX adoption. IoTeX is already available on many centralized and decentralized exchanges, including Coinbase, Binance, Huobi Global, Mimo, Uniswap, Changelly, ChangeNOW, Indacoin, etc.

IoTeX is the decentralized backbone for machine economics known as MachineFi, which serves devices ranging from intelligent home machines to self-driving vehicles. To this end, IoTeX built and launched a fast, high-performance, and EVM-compatible blockchain that provides flexibility and scalability for numerous applications. Also, middlewares and DApps are developed on top of its open-source blockchain bringing self-sovereign devices and real-world oracles into reality.

IOTX is the native coin that governs the underlying blockchain protocol while being used as the gas for the blockchain protocol. Burndrop is a unique tokenomic model that leads to deflation of IOTX as the number of devices orchestrated by IoTeX increases.

The Bittrex listing of IOTX comes as IoTeX has seen significant growth. Its ecosystem has over 140 different projects. More than 38 million transactions have taken place on its blockchain, and 73 delegates perform consensus and help govern the network over which 17 million blocks have been produced. Telling of the user trust in IoTeX is 30% of the total token supply currently staked.

Keep an eye out for upcoming news as the group’s co-founders recently revealed they would shortly announce some very high-level partnerships with major global firms.