The addition of new Dash trading pair with USDC on Poloniex and with BTC and the Australian Dollar on Lex.Exchange will simultaneously help increase liquidity, help increase price discovery, and satisfy traders’ need for a quick and cheap way to move between trades.
Introducing 7 new USD Coin and Tether pairs on Poloniex! $USDC pairs: EOS/USDC, DASH/USDC, ETC/USDC $USDT pairs: BCHSV/USDT, BCHABC/USDT, GRIN/USDT, DGB/USDT $EOS – $DASH – $ETC – $BSV – $BCH – $GRIN – $DGB https://t.co/0i8eBWrBr1
— Poloniex Exchange (@Poloniex) July 9, 2019
Poloniex made the announcement of the new Dash/USDC pairing via tweet and blog post, which adds to Dash’s current pairings on the site with BTC, XMR, and USDT. Poloniex has a variable Maker/Taker fee matrix based on the traders’ trailing 30 day average volume; 0.15%/0.25% for less than $25,000 USD, 0.08%/0.20% for less than $1M USD, 0.05%/0.15% for less than $2.5M USD, 0.02%/0.13% for less than $20M USD, and 0.00%/0.10% for more than $20M USD. Poloniex adds coins and pairings based on their Circle Asset Framework, which outlines the technology, team, business proposition, and market conditions of the coins.
Great News! As part of #Dash #Thailands new project Dash #Next which is focusing on Dash growth in Asia and beyond, Dash has been listed at #Lex #Exchange. Please visit https to learn more: https://t.co/GKTrlOUgf2@Dashpay @DashpayNews @dashcrypto @DashTravelworld @DashSYD pic.twitter.com/P6ZoRkV2Tz
— Dash Thailand (@DashinThailand) July 10, 2019
Lex.Exchange also integrated Dash recently with a BTC and Australian Dollar pairing. Lex.Exchange charges 0.55% to trade between the AUD and cryptocurrency and charge 0.22% to trade between cryptocurrencies. They do not charge to withdraw in AUD, but do charge to withdraw in cryptocurrency, however, Dash’s fees are not yet listed.
Benefits of greater liquidity for consumers
The liquidity generated by these additional trading pairs help provide more robustness to the Dash ecosystem by enabling individuals to more easily move in and out of Dash from other cryptocurrencies and other fiat currencies. As consumers move between currencies more, it will provide more data points for consumers’ value of Dash communicated through exchange prices. This thus enhances the price discovery of Dash and potentially aids in decreasing volatility as consumer trading volume increases and the bid/ask spreads become smaller and less volatile.
Another advantage that has previously been emphasized by the Dash Core Group Business Development Team is that traders prefer Dash for its incredible speed and cheap transaction fees (less than one cent), which becomes extremely important for traders that make numerous trades at low margins. Traders may even have to move across exchanges to capture arbitrage, at which point lightning fast withdraws with small fees become even more important. Thanks to Dash’s new InstantSend, this is possible for the same low fee of a regular transaction, so long as the exchange recognizes Dash’s InstantSend such as Kraken, Bitbns, OKEX, Digifinex, IDAX, BitInka, PandaExchange, CoinCola, Paycent, VegaWallet, 3xbit, Jinance, and SouthXchange.
Dash working to increase options for merchants
Dash recognizes that consumers need to easily be able to buy and spend Dash if mass adoption is ever expected to actually occur. Additionally, in order to provide Dash-accepting stores, merchants need ways to exit Dash since not all of them want to carry the currency exchange risk that is currently inherent with cryptocurrency. So the more exchanges that consumers and merchants see providing Dash pairs, especially with fiat currencies, the more confident they can be in using Dash and thus further aiding the price discovery mentioned above. Dash has even partnered with Uphold to put their exchange directly within the Dash Wallet and enabled merchants to easily direct their direct payments or POS software to Uphold’s wallet address and have their Dash instantly converted to fiat.
The post Poloniex Adds New Dash Pairs, Lex Exchange Integrates Dash Expanding Liquidity appeared first on Dash News.