8 C
December 3, 2021
Image default

KuCoin plans to launch the NFT token exchange –

The non-exchangeable tokens (NFT) market, while still growing, is considered by many community members to be the next big trend. His adoption in the mainstream is also becoming increasingly likely. KuCoin cryptocurrency exchange on Monday she announced that it is getting ready to launch the NFT token exchange via its subsidiary Pool-X platform.

Pool-X is an independent liquidity trading platform that presents itself as a “next generation PoS exchange”. According to the report, the platform is preparing to debut on the NFT market. Thanks to this, holders of non-exchangeable NFT tokens will be able to trade them. Prior to the launch of the NFT market, Pool-X will enable Dego.Finance deposits and withdrawals, making KuCoin the first exchange to support this service.

In the words of Johnny Lyu, president of KuCoin Global, NFT tokens have many applications, e.g. in bonds, insurance and many other areas, despite a small market.

“KuCoin is paying close attention to the NFT market. While not enough attention is currently being paid to the NFT, their potential is huge. Moreover, it has many applications in insurance, bonds, options and more. It can even create a virtual real world on the blockchain. Therefore, we launched the NFT Trading Board to make it easier for users to participate in NFT investing. And we donated 100,000 KCS to Dego.Finance to help with its development. In the future, we will do more to solve the problems encountered in the NFT field and build a thriving NFT world. ”

The stock exchange noticed that the creation of a trading platform may contribute to the popularization and increasing the liquidity of NFT markets.

The NFT is growing rapidly

According to the NFT NonFungible.com analytical platform, the volume of non-exchangeable token transactions increased to USD 230 million in the first half of 2020. This value is three times higher than the year before. This is another proof of the growing interest in participating in the NFT market.

If you are interested in the subject of non-exchangeable NFT tokens and would like to learn more about it, please read our extensive article: NFT – the next big trend after DeFi

Related posts

Bitcoin hold metrics: don’t trust what you see

Anupreet Kaur

Is Donald Trump buying bitcoin?

Anupreet Kaur

IMF: global public debt will be the highest in itsotry | Blocksats

Aparnna Hajirnis

Leave a Comment