KuCoin, a popular Hong Kong based crypto exchange, recently announced over Twitter that its added Traxia to its coin listings, against BTC and ETH trading pairs. The new blockchain project, which will be the first network to implement Cardano’s smart contract technology, only recently launched on June 6th, following a successful ICO where it reached its $15,100,000 hard cap.
The new listing announcement saw TMT rocket over 25% to $0.044 as new support elevated the token’s value. Since then however, it has been unable to sustain these new price levels and has since corrected back to $0.038 (10.85%). Circulating supply is still unknown according to CMC statistics, but we do know that the total supply for this coin is 1,000,000,000. 24hr trading volumes are still holding above $1,800,000 and we are seeing shorter pump and dumps follow in the wake of the early surge.
What is Traxia
Traxia defines itself as a ‘decentralized global trade finance ecosystem’ which aims to create a open marketplace for users and businesses to exchange invoices as short-term assets. Cardano’s smart contract technology will be used to facilitate each trade agreement transacted over the marketplace, which does not use cryptoccurencies in its model. The platform, developed by LiqEase, is scheduled to fully integrate with the Cardano platform by the end of this year.
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