Third Largest Exchange, Okex Lists Four Stable Coins In A Listing Frenzy

OKEX, the third largest cryptocurrency exchange by market cap decided to list four stablecoins on Monday, October 15, 2018.

TUSD, GUSD, PAX & USDC on Okex Platform

The exchange announced the listing on its official page on Monday. The four stablecoins it is listing are Paxos (PAX), Gemini (GUSD) (by the Winklevoss twins), USD Coin (USDC) and True USD (TUSD). All the coins will go live on 1700 HRS HKT (Hong Kong Time) with various pairs. Withdrawal, however, will go live on October 15, 2018.

More stable coins are being listed as Tether stumbles into the puddle of speculations now more than ever. Tether, as reported by Coinpedia lost its position and went down from $1 to $0.97. This is conjecture with the speculations of UST not actually pegged to the USD has caused FUD making way for more new stablecoins to take its place.

Bitfinex recently paused Tether (USDT) transactions momentarily which helped the FUD even though they didn’t mean to. Tether has had the problem for a long time, a transparent audit would certainly calm the users and the FUD and would increase the stability of the coin.

On Kraken exchange, the USDT traded as low as $0.85 against the physical USD. Since more stablecoins have been pouring out, USDT, the long-standing stablecoin, largest both by volume and market cap will have competition. PAX and TUSD stabelcoins have already achieved $11 and $27 million volume against USDT on Binance exchange.

Some Recent News:

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  2. KuCoin Freezes Tether Deposits And Withdrawals For Maintenance
  3. Coinbase’s Index Fund Closes and Now Pivots to New Product

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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