TrustSwap’s native token, $SWAP, is now available on the Bithumb Exchange. This listing represents a significant step in providing additional access to the SWAP token.
What Is SWAP?
SWAP is the exclusive token used in TrustSwap’s products and services. For example, SWAP holders can use SWAP in order to gain early access to new blockchain projects through TrustSwap’s Launchpad platform. SWAP is also the token that will power The Crypto App which crypto users can use to keep track of their portfolios and monitor over 6,000 coins across 100+ exchanges. In addition, the SWAP token can be used to receive discounts on TrustSwap-related service fees.
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What Is Bithumb?
Bithumb is a global top 20 (Coinmarketcap) South Korean cryptocurrency exchange that is one of the most popular cryptocurrency trading platforms in South Korea. Many popular cryptocurrencies are available to buy, sell, and trade on the Bithumb Exchange. Although Bithumb is most often associated with the Asia market, Bithumb also operates a global exchange, BitGlobal, that is used around the world.
Why Was SWAP Listed On Bithumb?
By listing the SWAP token on Bithumb, TrustSwap is strategically making SWAP more accessible to users, particularly in Asia. Bithumb’s status as one of the most widely used cryptocurrency exchanges in South Korea makes this a strategic move for TrustSwap as TrustSwap seeks to provide greater access to the SWAP token around the world.
South Korea is estimated to be the third biggest cryptocurrency market in the world. South Korean cryptocurrency exchanges accounted for more than 9% of global cryptocurrency trading volume in August 2021, and the Korean Won is one of the top 5 most traded fiat currencies for Bitcoin. About 10% of South Korea’s total population invested in cryptocurrencies when Bitcoin reached an all-time high in 2021.
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These statistics show the importance that South Korea and South Korean cryptocurrency exchanges play in the overall cryptocurrency market.
By listing the SWAP token on one of the most prominent exchanges in Korea, TrustSwap has made the token available for wider use. By listing on Bithumb, visibility and demand for SWAP across Asia could be dramatically increased, potentially giving a boost to the TrustSwap ecosystem.
One of TrustSwap’s primary goals is to list the SWAP token on as many of the leading cryptocurrency exchanges as possible. This marks a step toward achieving that goal.
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