Phemex, a prominent cryptocurrency exchange in Singapore just added 40 new contract trading pairings to its platform. With contracts on cryptos like NEAR, GMT, SAND, AXS, and APE now accessible to trade on Phemex, it’s evident that the exchange has done its homework and values the needs of its users.
Phemex has been rapidly expanding the list of coins on its site, many of them being some of the most innovative and widely recognized projects in the NFT space. With this new listing, Phemex gives traders and crypto enthusiasts access to some of the most popular cryptocurrencies in the market.
With that being said, let’s take a look at 9 of the new 40 contract coins that are now available on Phemex.
- NEAR Protocol (NEAR)
NEAR Protocol is an Ethereum challenger and decentralized application (dApp) platform that focuses on development and user-friendliness. The Near crypto platform’s native NEAR coins are used to pay for transaction fees and storage. NEAR is a Proof-of-Stake blockchain that achieves scalability with the use of sharding technology.
This April, NEAR Protocol soared into the top 20 crypto rankings. It is presently number 20 on CoinMarketCap, with a total valuation of over $10 billion, up from $5 billion in March. NEAR Protocol strives to stand out in the crowded field of Web 3.0 infrastructure providers by offering unique developer and user-friendly capabilities.
- GMT (STEPN)
GMT is the governance token of STEPN, a “Web3 lifestyle app” for iOS and Android that encourages users to adopt healthy habits by rewarding them with its utility token GST (Green Satoshi Tokens) for activities such as walking, jogging, and running. It’s currently trading at $3.32 and has a CoinMarketCap ranking of #51 with a market cap of $1.9 billion USD.
- APE (ApeCoin)
ApeCoin is currently priced at $18.97 and has a market cap of $5.4 billion USD. The coin is part of the APE ecosystem that is being built by the ApeCoin DAO. It’s associated with the popular Bored Ape Yacht Club NFT collection. ApeCoin holders can join the ApeCoin DAO and enjoy access to unique games and services. It is ranked #28 on CoinMarketCap.
- SAND (The Sandbox)
The Sandbox is a blockchain-based game that allows players to monetize their gaming experience. Players can buy virtual lands and other digital assets as NFTs and earn money through them in different ways. SAND is the native token of the game and it’s used to perform virtually every in-game activity. The coin is currently trading at $2.53 and has a CoinMarketCap ranking of #40.
- AXS (Axie Infinity)
Axie Infinity is another blockchain-based game that was inspired by trading games like Pokemon and Tamagotchi. The game lets players collect and “breed” Pokemon-like creatures called “Axies.” There are over 500 body parts available for these creatures and they determine their rarity and attributes.
AXS is trading at $39.22 and has a CoinMarketCap ranking of #45. The project was created by Sky Mavis, a team of 25 full-time employees. The game has amassed over 8 million players and is expected to cross the 10 million mark this year.
- OMG (OMG Network)
OMG is the utility token of OMG Network, a layer-2 scaling solution built for Ethereum. The team behind the project claims that the technology that powers OMG Network will be able to scale Ethereum to thousands of transactions per second (TPS). Currently, Ethereum carries out 10 to 14 tps.
The coin is currently trading at $4.20 and has a CoinMarketCap ranking of #109.
- IMX (Immutable X)
Trading at a price of $1.66, IMX is the native token of Immutable X, designed to be a scaling solution for NFTs on the Ethereum blockchain. With the help of Immutable X, users can trade NFTs at a much faster rate and mint without having to pay gas fees.
Users will be able to distribute ERC-20 and ERC-721 tokens on a much larger scale with this technology. Currently, IMX has a CoinMarketCap ranking of #137 and a market cap of $392 million.
- MATIC (Polygon)
Polygon is another platform that’s designed as a scaling solution for Ethereum. Its purpose is to turn Ethereum into a multi-chains system like Polkadot and Avalanche. Polygon is capable of carrying out 65,000 transactions per second and has a block confirmation time of 2 seconds.
The coin is currently trading at $1.26 and has a CoinMarketCap ranking of #17.
- THETA (Theta)
THETA is the native token of Theta, a video-streaming blockchain platform. Steve Chen and Justin Kan, the co-founders of YouTube and Twitch, respectively serve as the advisors to the team behind the project. The project aims to decentralize video streaming, making the experience more rewarding for both content creators and content consumers.
It’s currently trading at $2.76 and has a CoinMarketCap ranking of #41.
Conclusion
The new coins that Phemex has listed serve as a testament to its commitment towards making the lives of its users more meaningful and free from financial woes. The exchange strives to grant the best possible experience by only introducing coins with missions congruent to theirs – to enhance the world of finance and provide utility to people.
Phemex gives traders and investors an opportunity to diversify their portfolios with a variety of assets. To support its new listings, Phemex is launching the Metaverse Brawl campaign, in which users can join and win trading bonuses.
Coins such as GMT, APE, SAND, and AXS are some of the best coins on the market right now and they all have one thing in common – to help people take control over their finances, which is the reason Phemex was originally founded nearly three years ago.
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