Crypto exchange and digital asset management platform, Bitrue, has officially added Monacoin (MONA) to the supported assets on its hybrid venue, as part of its latest order book expansion.
Regarded as the Japanese equivalent to Dogecoin, Monacoin is an open source P2P payment network that enjoyed some popularity in Asia a few years ago. The listing announcement reveals that MONA is set to start trading on the XRP-centric platform today. This seemingly triggered traders’ interest in the meme-based cryptocurrency, as its price surged shortly after.
Bitrue’s listing ‘bump’ reemerged recently as the exchange announced that it would soon support new coins. In particular, it will be focusing on NFTs, DAOs, and projects operating on smart chains. The fresh additions go live with promises of further pushes into DeFi products planned for the future.
The gung-ho approach to listing more crypto tokens is part of a larger shift for the XRP-focused exchange, Bitrue said in a statement, alluding to more digital assets in the pipeline.
MONA’s development began all the way back in 2013, and after surging to a record $16 per coin in 2017, it subsequently wiped out most of its value and traded below 50 cents. Now, the cat-coin is on the move again, and has racked up 500% growth off all-time lows.
The price surge followed the news of MONA getting listed on prominent crypto platforms, including Bittrex and CoinCheck, which spurred excitement around the coin amid a bullish crypto market.
Bitrue could help MONA reach new heights as the Singapore-based exchange boosts a strong user base in Europe and South-East Asia.
Launched in July 2018, Bitrue is a diversified financial services platform that offers a handful of cryptocurrency services that cover trading, yield farming opportunities and low-interest crypto lending.
Bitrue Keeps Up with DeFi Spirits
Despite launching less than 3 years ago, Bitrue established itself as the world’s first hybrid exchange platform when it integrated Decentralized Finance (DeFi) products into its existing Centralized Finance (CeFi) offering.
Commenting on the news, Adam O’Neill, Chief Marketing Officer at Bitrue said, “The most exciting part of the cryptocurrency industry is discovering the wide variety of new projects that tackle real issues in the world and provide genuinely useful solutions.”
He continued saying, “We are thrilled to not only give our users the opportunity to trade for these coins, but also to play our own small part in truly revolutionizing an array of industries with decentralized solutions, from payments and commerce to governance, property rights and more.”
In keeping with the spirit of DeFi, Bitrue said a recent limited yield farming opportunity for SAND on its platform sold out within 30 seconds. The DeFi service is essentially a peer-to-peer matching engine connecting borrowers and lenders.
Bitrue also plans to take its native token, Bitrue Coin (BTR), to Binance Smart Chain within the next few weeks. The ERC20 token will then make its debut on Pancake Swap, the leading BSC DEX, where Bitrue Coin can be swapped with assets such as BNB, ETH, and DOT.
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