OKX cryptocurrency exchange has enhanced its investment product lineup and expanded its trading options. On October 3, 2024, the company introduced the ETH/BTC pair to its Dual Investment product, alongside listing MOODENG, NEIRO, PYUSD, and EIGEN cryptocurrencies.
OKX Expands Portfolio with ETH/BTC Pair and New Crypto Listing
In a recent announcement, OKX introduced the ETH/BTC pairing as part of its Dual Investment product. This strategic addition allows investors to engage directly in crypto-to-crypto transactions without needing to convert their assets into stablecoins.
This simplifies the investment process by eliminating additional conversion fees and enables investors to benefit from higher annual percentage returns during the holding period. Including this pairing underscores OKX’s commitment to providing versatile trading solutions to its users.
Simultaneously, the crypto exchange has expanded its perpetual futures market by introducing two new meme coins, MOODENG and NEIRO. MOODENG, inspired by Thailand’s famed pygmy hippo, and NEIRO, named after a Shiba Inu that succeeded the iconic Dogecoin muse, Kabosu, began trading early today. These listings diversify the offerings on OKX and tap into the growing interest in meme coins.
Introduction of PYUSD and Enhancement of EIGEN Trading Options
OKX has further broadened its financial instruments by listing PYUSD, a new stablecoin that mirrors the US dollar on a one-to-one basis. Trading for PYUSD/USDT started at noon UTC on October 3, providing traders with a new tool for managing financial volatility in digital markets. Stablecoins remain crucial for providing stability and liquidity in the crypto market. Given this role, PYUSD is poised to become a key asset on the exchange platform.
In addition to the new stablecoin, the crypto exchange has added EIGEN to its perpetual futures market following its recent spot listing. This began on October 1, enabling traders to long or short EIGEN with up to 50x leverage. EIGEN, a protocol built on the Ethereum network, facilitates “restaking”, where Ethereum stakers can secure multiple applications with their assets.
Moreover, following its recent listing on major exchanges, EigenLayer (EIGEN) price shows potential for growth with a prediction that could see values rise to around $5. This optimism is driven by sustained investor interest and market activity, suggesting a possible rebound despite current market fluctuations.
More so, the recent listings and the introduction of the ETH/BTC Dual Investment product are part of OKX’s strategy to adapt to market needs and enhance user experience.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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