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- 1 Revolut, a London-based cryptocurrency exchange, reveals a plan to launch a crypto exchange for advanced traders.
- 2 The yet-to-be-launched exchange for advanced traders will offer features such as limit and market orders.
- 3 Revolut offers to trade Bitcoin, Ethereum, Dogecoin, and Solana, including over 80 other cryptocurrencies.
Revolut, a leading digital bank, revealed its plan to develop and launch a crypto exchange for advanced users. The yet-to-be-launched platform will have features such as limit and market orders.
Market order can be understood as a tool that helps users purchase tokens/coins at the ongoing price at that time. However, limited market order enables users to buy assets at predetermined prices, offering comprehensive decision-making options.
Other services expected to be offered in the yet-to-be-launched exchange are reduced trading fees, advanced analytics, and a few others not provided in the existing Revolut platform.
Almost all the existing platform users have received the email from Revolut; the mail says that limit orders will not incur any fees, and other purchases made will be charged up to 0.09%.
The charged amount over a transaction is comparatively less than what the leading cryptocurrency exchange, Binance, charges for some transactions. Coinbase, the 2nd leading crypto exchange, charges 1% overall cryptocurrency transactions.
Revolut has approximately 30 million users; some active users will become the advanced trader and gain access to the yet-to-be-launched exchange. The aim of launching the exchange is to boost the overall adoption of the ecosystem.
The firm offers to trade Bitcoin, Ethereum, Dogecoin, and Solana, including over 80 other cryptocurrencies. Revolut could be used to convert and send crypto to more than 160 nations.
Cryptocurrency Exchanges Ranking and Updates
The entire category of centralized exchanges is flourishing constantly, excluding some specified exchanges. As of this writing, the spot trading volume processed by the centralized cryptocurrency exchanges is $425.74 Billion.
Binance is the leader among all cryptocurrency exchanges, followed by Coinbase, Bybit, OKX, Kraken, and Upbit, including others on the list.
Crypto Market Update
The crypto market capitalization was constantly flourishing and was on the brink of surpassing the milestone of $2 trillion. However, a sudden decline in the market cap has dropped the cap to $1.93 Trillion.
Despite an intraday loss of $14.636 Billion, the market capitalization is still 8% in positive territory compared to a week ago. Bitcoin (BTC), the leader of the cryptocurrencies, has constantly grown since its ETF approval and was trading at $51,680.
Since its approval in January 2024, the Bitcoin spot ETF has accumulated $37.29 Billion in assets under Management (AUM), a further positive momentum is expected to continue in the trading price of Bitcoin.
Ethereum, the second most popular cryptocurrency in the market, has also shown significant improvements in the past few weeks. The hype of the growth was believed to be boosted by the yet-to-be-approved Ether spot ETF.
There are speculations that the Ether spot ETF will likely be approved by the end of May 2024.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
