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Phemex Crypto Exchange Decided To List DeFi Tokens: Report

The Phemex Crypto exchange, which is a top crypto trading platform that offers both spot markets and derivatives, focused on quality over quantity since its launch and it decided to list DeFi tokens as of late. For most of the time since its launch, Pheme

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The Phemex Crypto exchange, which is a top crypto trading platform that offers both spot markets and derivatives, focused on quality over quantity since its launch and it decided to list DeFi tokens as of late. For most of the time since its launch, Phemex supported popular coins like ETH, BTC, XRP, and LTC but now things are changing, and let’s find more in today’s crypto news.

Over time, the asset list increased with some of the oldest assets like gold being added, as demand from investors increased this year. Capping off what has an incredible year to crypto, Phemex listed 7 new select tokens for the crypto coin list like ADA/USD, ALGO/USD, COMP/USD, DOT/USD, and BCH/USD. All pairs were linear with perpetual contracts quoted and settled in the USD offering by 20x leverage but now the platform added more tokens which are of extreme importance for the new crypto sub-sector.

2020 started off with a pandemic and a crashing market but BTC and the rest of the crypto market recovered and had done really well since then. The asset class surpassed all of the other investments which is what really changed the tides for BTC and other assets in 2020 thanks to the emergence of the DeFi sector. The tokens in this category were built on ETH smart contracts which soared in value, interest, and usage unlike the crypto bubble so real-world adoption was rising in the DeFi space and caused these assets to jump ahead with more longevity in the market.

Chainlink raced past Litecoin in rankings, the new Defi token earned a reward as a pioneer so it was clear that DeFi gives out real worth and is not the only speculation that boosted the sentiment on the market. The Phemex crypto exchange stood for quality for a long time now and have been picky about adding tokens on their platforms and which other markets they will expose their loyal users to. For the longest time, only the most trusted assets like ETH, BTC and other trusted ones like gold were available but with the potential in DeFi, Phemex decided to list other new tokens.

Included in the list of crypto derivatives contracts for Defi, is Uniswap, Yearn.Finance and Compound. Phemex added these tokens to respond to the undeniable growth and trend in the tokens with the focus of becoming a one-stop-shop in derivatives trading, providing trading options in Cefi and Defi.

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