The Phemex cryptocurrency exchange has relisted XRP, the token linked to Ripple Labs Inc., alongside announcing the addition of 8 new digital currencies. This move aims to enhance trading options for users and reflects the platform’s commitment to market trends and community demand.
Why XRP Was Relisted
XRP trading was initially suspended due to the SEC lawsuit against Ripple Labs, which alleged unregistered securities sales worth $1.3 billion. Market volatility and sell-offs prompted exchanges like Phemex to halt XRP trades temporarily. The decision to relist stems from sustained requests by the global XRP community and renewed confidence in the token’s regulatory outlook.
The 8 New Tokens Listed on Phemex
Phemex is expanding its offerings with these tokens, now available on its spot and derivatives markets:
- Basic Attention Token (BAT)
Ranked 67th by market cap, BAT rewards users for attention in digital advertising via blockchain. - Chiliz (CHZ)
Powers esports and fan engagement through sports club tokens, partnering with Socios.com. - Decentraland (MANA)
A virtual reality platform driving NFT adoption by allowing users to monetize content. - Enjin Coin (ENJ)
Supports blockchain-based gaming ecosystems with interoperable assets. - SushiSwap (SUSHI)
A decentralized exchange offering yield farming and liquidity incentives. - Synthetix Network Token (SNX)
Backs synthetic assets on Ethereum, enabling diversified trading. - The Graph (GRT)
Indexes blockchain data for efficient querying in decentralized apps. - Maker (MKR)
Governs the Dai stablecoin ecosystem, crucial for DeFi lending.
👉 Discover how these tokens can diversify your portfolio
Phemex’s Listing Standards
Despite rapid growth in the crypto space, Phemex maintains strict listing criteria to ensure quality. Projects undergo rigorous vetting based on:
- Market demand
- Technological robustness
- Team credibility
- Regulatory compliance
This approach safeguards users and enriches the platform’s ecosystem.
FAQ Section
Why was XRP delisted initially?
XRP faced suspension due to the SEC’s lawsuit alleging unregistered securities sales.
What makes BAT a unique token?
BAT innovates digital advertising by rewarding users directly for their attention.
How does Chiliz enhance fan engagement?
CHZ tokens allow fans to interact with sports teams via exclusive virtual experiences.
Is Decentraland only for NFTs?
No, it’s a broader VR platform where users monetize content, including NFTs.
What’s SUSHI’s role in DeFi?
SushiSwap provides liquidity pools and yield farming opportunities.
👉 Explore Phemex’s new listings today