The Phemex exchange has just included three cryptocurrencies on its platform: Shiba Inu (SHIB), DYDX and Fantom (FTM). These tokens have achieved great popularity among cryptocurrency enthusiasts and will be available in the spot trading section with their USDT pair.
Consolidating its position as one of the leading cryptocurrency exchanges in the sector, Phemex adds these tokens to satisfy user demand . In 2021, Shiba Inu managed to climb the cryptocurrency market capitalization ranking, reaching a place in the top 10.
The Shiba Inu cryptocurrency was launched as a community boost project with an ecosystem DeFi that offers users a set of products. The token gained more adoption after Ethereum creator Vitalik Buterin donated more than $ 1 billion in SHIB to various charities.
Phemex says hello to Shiba Inu (SHIB), Dogecoin’s competitor
Phemex has noted the popularity achieved by Shiba Inu, as the token became one of Dogecoin’s biggest competitors (DOGE). The cryptocurrency, backed by Elon Musk, went from under $ 0.10 to an all-time high above $ 0.70 and sparked euphoria among retail investors.
Many believe that SHIB and its ecosystem is the only currency capable of delivering what DOGE promised: a ‘fun’ and low-cost community-driven project.
In any case, Phemex has listed both DOGE and SHIB, and users can choose their contender favorite for the crown coin meme. These assets are among the best performing in 2021 and it appears that their value will continue to increase as more users join the cryptocurrency industry.
With DYDX Phemex bets on DeFi altcoins
After reaching an all-time high of more than USD 100 billion in total locked value (TVL), the DeFi sector remains one of the hottest trends in the cryptocurrency space. Phemex has listed some of the major DeFi projects, and is now adding the DYDX protocol governance token.
Launched via Airdrop, DYDX will support the governance model that allows users to present and vote for the proposals that will decide the future of the platform. Since its launch, the token has seen a large revaluation, going from less than $ 10 to an all-time high above $ 20.
DYDX, a decentralized trading protocol backed by a16z, Polychain Capital, Three Arrows Capital and Paradigm has moved to a full decentralization model without a single flaw. Access to the DYDX token on Phemex and other platforms will allow users to participate in the next phase of this project.
Phemex adds Fantom (FTM) to its trading listing
FTM, which is part of the Fantom chain, has seen a bullish trend year-over-year, according to data from CoinGecko. Fantom’s rally ignores the general sentiment in the cryptocurrency market, maintaining its bullish momentum despite the drop in the price of major cryptocurrencies.
This cryptocurrency and its network meet among Ethereum’s biggest competitors due to its smart contract capabilities . In addition to Phemex, other cryptocurrency exchanges recognize its potential, as users are attracted by its low transaction cost, its betting system, its governance model and its fast payments.
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