IOTA Token was officially launched by one of the cryptocurrency exchange traders, Bitfinex. Tradable on both IOT/BTC and IOT/UUSD, tokens for use with
IOTA Token was officially launched by one of the cryptocurrency exchange traders, Bitfinex. Tradable on both IOT/BTC and IOT/UUSD, tokens for use with the network of IOTA are now available and accessible through the Bitfinex website. Experts in this field say that the launch was a significant milestone for IOTA keeping in mind that it will help them their user base.
It undeniable that exchange listing has become a hallmark of many crypto projects. Even the founder of IOTA, David Sonstebo, alluded to this fact in one of the interviews he had with the CCN. He said that the technology is ready for the open markets and it can reach the wider audience. Based on the numbers from the launch, it is evident that the open free market was ready for IOTA.
As soon as Bitfinex made the much waited announced (that was on 4th June 2017) about listing of IOT, it was apparent that user demand was ready. The staff at Bitfinex was overwhelmed by the numerous requests for details on token listings. These volumenous requests lead to an increased number of support tickets created for Bitfinex.
By the Numbers
As soon as it went live on Bitfinex, there was a large transaction that saw Bitfinex servers going down briefly. A couple of hours after launch, as narrated by Brandon, everyone was working tirelessly to ensure IOTA trading was live and operating as required. If you wanted to know the kind of volume they were talking about, then you can imagine within the first three hours of trading, over four Million Mega OITA were exchanged with the IOT/USD pair. As if that is not enough, the IOT/BTC pair showed even greater activity garnering over eleven Million Mega IOTA exchanged within the same period.
With the above stats, it was clear that IOT was slotting itself into the top ten cryptocurrencies as far as the market cap is concerned. In fact, at the time of writing and publishing this content, the total value of IOT tokens was way above 1.5 billion USD, which high above the likes of Monero and Dash.
Bitfinex Lists IOT
For the past few years, the staffs at the Bitfinex have been closely following the developments of IOTAs. There is no doubt that IOTA token will emerge the best candidate to be included on Bitfinex thanks to its innovative nature of its platform. Being one of the first tokens hosted on Bitfinex and not listed on any other trading exchange is an indication that this is truly a unique relationship for Bitfnex.
While sharing some insights on the success of IOT on Bitfinex network, the founder of IOTA, David Sonstebo, expressed gratitude and thanked to everyone, especially his team members who ensured that the projects was a success. He welcomed and opened arms to hundreds of thousands of new people who get interested and learn about IOTA through this event. In a nutshell, he said they are working on the long-term vision and execution of the IOTA project.