With the increasing adoption of the crypto market, several projects are in the spotlight. Cryptocurrency exchanges are not left behind as many are launching native tokens to give users attractive incentives, provide a governance process, increase the exchange’s liquidity, and so on.
Such is the case for Bitrue, a cryptocurrency exchange that is growing in popularity as it rises globally. Bitrue offers several efficient and rewarding features to its users, many of which are related to its proprietary token Bitrue Coin BTR, “the world’s first Yield Token.”
BTR users just welcomed a much-anticipated announcement: the coin will launch on March 24 as a base currency on Bitrue. 12 first pairs will debut, including SOL/BTR, AVAX/BTR, GALA/BTR, LUNA/BTR and SHIB/BTR. This adds to the 5 existing pairs of regular coins: BTC, ETH, XRP, USDC and USDT
†[BTR has] has been the lifeblood of our business since we launched it in July 2019 and we have made every effort to consistently add extra utility and bring more value to the holders,” said the Bitrue team.
Following the news, BTR is up 13.54% over the course of the day to $0.3. The coin’s initial retail price in June 2019 was $0.05. The demand for BTR is increasing as the popularity of Bitrue rises among major crypto communities.
The many benefits of keeping BTR
Bitrue’s BTR offers many benefits and rewards to its holders. Starting with governance, users can vote directly on the exchange’s future updates. For every 1 BTR held, the user is entitled to 1 vote.
Bitrue regularly holds voting sessions where users can vote for new coins to be listed. Holders can also opt for a reward during the next stage of the voting, where users will be rewarded in the form of the newly quoted coin as long as their BTR continues to wager within 7 days.
Moreover, several additional features also reward users for holding BTR, with stable returns of over 20%. The more BTR users, the higher the rewards they will receive for Yield Farming, Token Sale airdrops, the exchange’s investment service Power Piggy, as well as BTR blocks and discounts on trading fees.
“Since its launch in 2019, BTR has been at the heart of everything we have worked on at Bitrue. For three years, our primary goal has been to bring additional usability to this coin, which we have achieved through regular feature launches and upgrades that have resulted in consistent growth even in turbulent market conditions,” said Adam O’Neill, Chief Marketing Officer at Bitrue .
Bitrue scores higher in Coingecko
Recently, Bitrue is gaining popularity and recognition. The exchange was recently ranked one of the top exchanges in the world by Coingecko, going from the #13 position to the top 5.
CoinGecko is the world’s largest independent cryptocurrency data aggregator. The platform uses a reliable Trust Score to provide information about the transparency, liquidity and security of the exchanges. This score is calculated based on three main categories: liquidity, scale, API coverage, and several other indicators “that define a good exchange from a user’s perspective.”
The platform rates exchanges on a scale of 1 to 10, and Bitrue’s current score is 10, putting them higher in the ranks.
The recent growth of Bitrues in traffic and trading volumes may be due to their increasing support from Cardano ADA, TerraUSD UST and USD Coin USDC, which recently launched the popular coins as the base currency with hundreds of trading pairs, which has attracted the respective communities.
The exchange has partnerships with major crypto firms such as Cardano, which contributes to the ecosystem with open-source code and supports their own assets, making it the first exchange to do so. In response, Bitrue sees an increasing number of ADA traders coming in on a daily basis, a threefold increase in numbers in the past two months.
The increasing popularity of the exchange is related to its coin, and as the demand for BTR increases, so far the supply is actively declining through 8 BTR Burns, a total of 198,692,902.84 burned BTR.