By Shelly Melancon (Switzerland)
Crypto traders can now trade on the SRX token as it has been listed on the Bitrue exchange. Already, trading activity on the token has been rising. Bitrue is a modern digital currency exchange platform that offers simple, efficient, and safe digital asset management services. A side benefit of this listing is that StorX users can use it similarly to other tokens.
The Usefulness of StorX and SRX
StorX is a decentralized cloud storage platform that provides secure cloud data storage. Uploaded files on StorX are split into multiples and encrypted before being stored in autonomous storage nodes. More importantly, the operations are performed by humans who rent part of their disk space to StorX to provide its decentralized storage services efficiently.
The reward for these renters is SRX tokens; StorX’s mode of operation is similar to Uber’s; it connects those seeking more disk space with those who have unused disk space and are willing to get paid for it. StorX users also can be node farmers where they become important contributors towards creating a safe and sustainable internet for everyone.
Part of the requirements for farm node staking is for farmers to stake their SRX tokens. Those who wish to increase their SRX tokens can do so via exchanges or through referrals. StorX only allows a minimum of 1000 SRX tokens to be staked, while the maximum is 1,000,000.
Also read:Stakers or investors are also rewarded with more SRX tokens. SRX is the governance token of the XinFin blockchain. The entire SRX tokens worldwide are 505 million, and there are only 536 SRX token holders globally.
SRX Price Increases
Few minutes after its listing on Bitrue exchange, the SRX price rose by over 153%. Current Bitrue analytics reveal that SRX’s 24-hour trading volume is 164,787.5 SRX (about $39 million). SRX price rose from $0.09 to $0.29 within 24 hours.
SRX Price First-Day Trading Movement. Source: Twitter
SRX is built on the XDC blockchain, whose native (XDC) has been trending for over 14 days now among the top cryptocurrency gainers. It is noteworthy that the transaction fee for SRX transactions (including transfer of SRX tokens) requires XDC, but any XDC-compatible wallet (such as Dcent) can be used to store SRX too.
Full Ecosystem Support for Bitrue
Bitrue expanded its order book by adding Hedera Hashgraph’s cryptocurrency to its list of supported assets. Also, Bitrue investment service will now include the HBAR/USDT currency pair. HBAR is the token for the hedera hashgraph.
Bitrue’s governance token Bitrue coin (BTR) was listed on Binance Smart Chain and pancake swap in the first quarter of this year. A huge benefit of its Pancakeswap listing is that the BTR can be traded with other valuable digital assets like DOT, BNB, and ETH
Hedera Hashgraph refers to itself as a modernized blockchain version of bitcoin and Ethereum. It combines bitcoin’s decentralized ledger model with Ethereum’s programmability. Hence, transactions are cheap, fast, safe, and consume low bandwidth. Users confirm that the network’s average transaction time is five seconds.
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