The rise in popularity of cryptocurrencies has turned digital assets into one of the fastest-growing markets in the world. With the total market capitalization having crossed $2 trillion, blockchain is showing no signs of slowing down, and this has sparked a lot of interest in the technology.
Cryptocurrencies attract speculative investors and emerging tech enthusiasts from across the globe, so new and upcoming projects with great potential are in high demand. To cater to this demand, Phemex, one of the world’s most popular cryptocurrency and derivatives trading platforms, just listed 47 new tokens on its platform!
Notable Mentions:
One of the biggest highlights for this round of listings is Terra. Among the 47 tokens being listed, Phemex has focused heavily on making tokens related to the Terra ecosystem available for investors on its trading platform. The Terra universe is considered the best option for DeFi applications after Ethereum, recently surpassing even the BSC smart chain in total value locked.
To support the Terra ecosystem and give back to its community, Phemex is launching an exciting Terra Era campaign, in which you can receive $UST airdrop for Spot Trading.
TerraUSD (UST)
With a market cap of over $15 billion, the token offers interest-bearing capabilities and interchain migration. It simultaneously maintains a high level of scalability, incorporating features of existing technologies and innovations to provide users with an optimal experience.
Recently, the Terra community greenlit a proposal to burn 88.7 million LUNA , worth around $4.5 billion at the time, to mint 4 to 5 million terraUSD (UST) stablecoins. An earlier burn of 520,000 LUNA saw the token rise in value by over 7% in just 24 hours.
Holders of the native token LUNA are granted governance and voting rights, enabling them to participate in the protocol’s decision-making processes. Luna is also used to regulate Terra's stablecoin pegs. With the recent spike in its performance, Terra has made its way into the list of top 10 cryptocurrencies by market cap, which has swelled to nearly $34 billion.
Mirror Protocol (MIR)
Unlike traditional tokens, which represent a real, underlying asset, mAssets are purely synthetic and only capture the price movement of the real asset. It currently has a market cap of nearly $130 million.
Anchor Protocol (ANC)
With some of the highest interest rates for stablecoins at 19.5%, the Anchor protocol also exhibits uncommon interest stability, rarely seen in any other lending/borrowing platforms. To avail deposits from Anchor, borrowers can also pledge liquid-staked PoS assets like bLUNA or bETH as security.
While this is not an exhaustive list, these are some of the more notable mentions among the 47 tokens.
Diversify Your Crypto Portfolio with Phemex
This should help users grow their investment portfolios further, enabling them to make profits through diversification facilitated by this listing. Phemex thrives on its community and will continue to work towards making its platform the best possible experience for all.