OKEx, the global digital assets exchange and trading platform has added yet another feather to its cap. The platform has announced the listing of Tezos (XTZ) token, which went live on November 6, 2019, at 9:00 AM UTC. Tezos is one of the prominent cryptocurrencies on the market at this time, with an estimated market capitalization of over $695 million to rank as the 21st most popular cryptocurrency, according to Cryptocompare’s data. XTZ is also commanding a 24-hour volume of over $206k and could further increase in the coming days once it becomes available to the huge OKEx userbase.
The introduction of Tezos on OKEx will be carried out in a phased manner, with deposits opening on November 6, 2019, at 9:00 AM UTC, followed by the availability of spot trading feature against USDT and BTC starting November 7, 2019 (UTC). Once the XTZ trading activity kicks off, the withdrawal feature will be activated the following day- November 8, 2019, at the same time.
Speaking about the inclusion of a new cryptocurrency, the Head of Operations at OKEx Andy Cheung said, “Tezos is a highly respected project with a robust community, and we’re happy to be able to add the value of the XTZ network to the OKEx ecosystem, where we strive to deliver a one-stop-shop for professional and retail traders.”
The listing of XTZ on OKEx will make the tokens available to a much larger audience and in turn, could increase the adoption on the Tezos network. Tezos is the creation of former Morgan Stanley analyst Arthur Breitman and Kathleen Breitman, as a smart contract and dApps platform to be far superior to the Ethereum protocol. In fact, by design, the Tezos protocol can be modified without having to fork the blockchain given that there is enough stakeholder consensus, which will prevent the rerun of the Bitcoin and Ethereum hard fork fiascos as witnessed earlier by the cryptocurrency community. It makes the Tezos platform the right fit for decentralized applications backed by long-term upgradability.
In order to be listed on OKEx, Tezos has passed rigorous testing in terms of the project’s quality, real-world applications, and community participation. Apart from the inclusion of XTZ, OKEx is also introducing USDT linear futures contract with 1-100x leverage levels where users can trade against BTC, ETH, BCH, EOS, XRP, BSV and TRX in both fixed and cross-margin modes.
The XTZ listing and USDT Futures Trading are just a few of the new additions to the OKEx portfolio. The company has a long list of other features lined up for release in the current year.