The Poloniex group writes in a weblog put up printed on April 6, 2021 that they’re happy to assist BTCST of their decentralized finance or DeFi Innovation Zone, starting right this moment (April 6). BTCST joins greater than 80 different DeFi property on Poloniex.
As noted within the announcement by Poloniex:
“Beginning now, wallets are open and you may deposit BTCST into your Poloniex account and put up restrict orders for BTCST/USDT. Full buying and selling for BTCST will probably be enabled later right this moment. Together with our itemizing, we’re holding a Bitcoin Commonplace Hashrate Web Deposit & Buying and selling Competitors from April 7 at 00:00 AM to April 11 at 23:59 UTC! Try our marketing campaign overview for extra particulars on the right way to win from a complete prize pool of 10,000 USDT!”
Whereas explaining what BTCST is, the Poloniex group wrote that it’s the Bitcoin Commonplace Hashrate Token (BTCST) – which is collateralized by Bitcoin’s (BTC) hash price or quantity of computing energy that secures the main digital foreign money community.
Every BTCST token represents 0.01 TH/s of Bitcoin mining energy “at an effectivity of 60 W/TH.” And “as such, miners contribute their computational energy to the platform in trade for newly minted BTCST tokens,” the Poloniex weblog put up famous. It additionally talked about that BTCST’s most important aim is to “channel liquidity to Bitcoin’s mining market.”
As defined by Poloniex, this may “enable customers to get publicity to mining rewards and hash energy of any dimension at a low price.” The crypto trade added that “the final word aim of the app is to extend the liquidity and effectivity of mining energy markets in addition to bridge the Bitcoin and DeFi worlds.”
Chances are you’ll now deposit BTCST on Poloniex and begin buying and selling.
Some key BTCST Stats shared by Poloniex are as follows:
Worth: $57.12 (on the time of writing)
Market Cap: appr. $440M (at time of writing in response to CoinGecko information)
24h Buying and selling Quantity: round $61.4M (in response to CoinGecko)
Market Cap Rank: High 200 Altcoins
All Time Excessive: $66.91 (March 19, 2021)
All-Time Low: $27.98 (March 25, 2021)
In Circulation: 7,287,599 / 15,000,000 BTCST
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