Cryptocurrency exchange OKX has introduced an ETH/BTC Dual Investment product and expanded its range of tradable tokens. These additions intend to expand the number of investments available to users and improve their trading experience with new assets.
ETH/BTC Dual Investment Launches
OKX has introduced the ETH/BTC Dual Investment product which is now available for subscription. This product gives the customer the ability to trade between Ethereum (ETH) and Bitcoin (BTC).
This move removes the need to exchange for stablecoins, making the process more convenient. Subscribers may also receive an interest rate on an annual basis during the holding period and there are no transaction costs involved.
This product enables a user who is eligible to trade a major crypto pair by selling an options contract and therefore earn a premium. The returns depend on the type of options and the target price could be in ETH or BTC. This offering is aimed at intermediate and advanced traders interested in maximizing their earnings in the popular digital assets.
New Listings: MOODENG, NEIRO, PYUSD, and EIGEN
OKX has recently introduced new tokens to its platform, which include MOODENG, NEIRO, PayPal USD (PYUSD), and EigenLayer’s EIGEN. The tokens listed here are of different categories, including meme coins, stablecoins, and protocol tokens, which makes it easier for the traders.
MOODENG and NEIRO, two meme coins, were listed on OKX’s perpetual futures market on October 3. Thailand’s pygmy hippo is the inspiration for MOODENG, while NEIRO is an illustration of a Shiba Inu owned by Atsuko Sato, who is also the owner of Kabosu the dog associated with Dogecoin.
Both meme coins are examples of new-generation community-focused cryptocurrencies with a high level of user interaction. PYUSD, PayPal’s stablecoin, also started spot trading on OKX on October 3. Paxos Trust Company issues PYUSD and maintains a 1:1 value with the US dollar.
The platform is to provide a more stable and dependable digital currency for trading as well as making payments with less risk of volatility. Deposits for PYUSD opened earlier today, and withdrawals will be available starting October 4 at 10:00 AM UTC.
The listing of PYUSD on OKX comes at a time when the stablecoin has surpassed the $1b market cap within a year since its launch. PYUSD operates on the Ethereum and Solana blockchains and has emerged as a stablecoin solution that integrates PayPal’s cross-border reach with blockchain.
EIGEN Listed for Perpetual Futures Trading
EigenLayer’s token, EIGEN, already listed as a spot on October 1, is now further tradable as perpetual futures on OKX. Users can long or short EIGEN with up to 50x leverage. EigenLayer is yet another ETH-based protocol that incorporates what it calls the “restaking” solution.
This enables ETH stakers to protect several decentralized applications while generating more profits. However, market problems occurred to EIGEN during its listing period, with the price of EIGEN decreasing by 20%. Amid issues concerning the transparency of token staking, investors’ interest was not as high as expected.
The criticism arose at Eigen Labs for not sharing all the information about the staking of locked tokens. This absence of communication negatively influenced the investor’s sentiment despite the initial hype around the token.
