Announcement on TRX Trading Market.
Well, the Crypto jungle hides numerous secrets and being the “Tiger” of this jungle, Frank Ling, the founder of CoinTiger is going to reveal some of the secrets in the jungle.
- CoinTiger opens the world’s first TRX trading market, a few points were disclosed by the founder of CoinTiger.
- What kind of chemical reactions will the fusion of CoinTiger and TRON produce?
One of the Top Chinese media, Mars Finance has obtained information of the world’s first TRX Trading Market will be accessible to the public on CoinTiger Exchange at 16:00 on March 19th. The initial trading pairs under the market will be ETH/TRX, XRP/TRX, EOS/TRX, LTC. /TRX, XLM/TRX, and BTT/TRX.
Mars Finance, one of the top blockchain media in Southeast Asia has reported that the world’s first TRX market will be accessible to the public on CoinTiger exchange (www.cointiger.com) at 16:00 on April 9th. The initial trading pairs under the market will be ETH/TRX, XRP/TRX, EOS/TRX, LTC. /TRX, XLM/TRX, BTT/TRX.
Frank Ling, CoinTiger’s Founder and CEO, was interviewed by Mars Finance regarding the cooperation between Tron and CoinTiger. Frank Ling said “CoinTiger has always had an extremely good relationship with Tron. The reason for opening the TRX market is due to Tron’s market influence and its great liquidity. CoinTiger definitely will introduce more quality assets based on Tron under the new TRX market.”
During the interview, Frank said that he believes the bear market is over. Crypto exchange is one of the few business models with a clear profit model and positive cash flow in today’s industry. Regarding whether CoinTiger Exchange is going to launch its CoinTiger public Chain, Frank holds a wait-and-see attitude with his views as follows:
1. In order to improve on progression as an exchange, other than the mainstream currency markets such as BTC and ETH, it is necessary to introduce a new market with good liquidity and popularity.
2. The liquidity service provided by the exchange is in nature to match the best buyer and seller for the listing projects.
3. CoinTiger tried IEO in February last year and gained great traffic and attention. Consequently, we have seen the risks could be brought by the IEO. It is actually bound the asset’s performance to the credit of the exchange, which means the assets is somehow endorsed by the exchange.
4. The business of the exchange itself is considered as a cross-chain asset exchange. If the exchange launches its public chain, it would become the cross-chain clearing business of assets and a competitor of other projects.
Firstly, Why TRON?
Mars Finance: Why does CoinTiger consider opening the TRX market?
Frank Ling: Coin-to-coin exchange becomes a very common trading way in the industry nowadays. As an Exchange, other than mainstream markets such as BTC and ETH, it is also necessary to introduce a new market with good liquidity and popularity.
The ecology of a public chain itself is very complicated. It is very difficult to create a flawless public chain without enough consensus and developers. At the same time, the underlying technical architecture and economic model have to be attractive as well and evidence supported, there are not many public chains has a great influential market. The only great public chains left for now are EOS, Ethereuem, and Tron.
As a public chain, the net worth of Tron is ranked top ten among the world while the number growth of active Dapp users and TRX holders is gratifying. Its user amount and influence are good, and its continuous iteration ability is also good.
At the same time, Tether is about to issue USDT based on TRON. We all know that stable currency is a good sign of a mature ecosystem. That means many people are willing to continuously input and export value in this ecology. After the Tron’s ecology introduces the stable currency, it is actually an access and lockup solution for users, which brings more vitality to the whole ecosystem.
Mars Finance: In your opinion, why does Tron chose CoinTiger among so many digital asset exchanges?
Frank Ling: Tron and CoinTiger have a good relationship, TRX is also the first digital asset listed on CoinTiger since its establishment. At the same time, we also took the lead in launching BTT, followed by Binance. CoinTiger was founded in 2017 and it is considered as a “newbie” in the industry, but its development has been relatively stable so far, regardless of the number of users, the volume of transactions, or the ranking between exchanges. According to CoinMarketcap’s ranking, we are steadily in the top 30 and continue to rise.
In fact, from 2017 to the present, the top 30 exchanges have been changed at least half. The reason why CoinTiger can rise steadily is very important because we have gained a lot of trust from blockchain projects.
In contrast, some exchanges’ rapid growth is riding on the dividend from early-stage of blockchain industry. Even if there are inappropriate operations, they will be covered up. However, as the early dividends disappear, everyone can see which exchanges are doing evil and which are not.
Through multiple communication with TRON, we have gained a high appraisal from TRON’s team. They think CoinTiger is a steady developed, principled exchange, and they value our reputation in the industry. This strategic cooperation was reached based on mutual recognition and trust between the two parties.
Mars Finance: How many trading pairs are there in the TRX trading market? What are future next plans?
Frank Ling: There are six initial trading pairs in the TRX market, initially ETH/TRX, XRP/TRX, EOS/TRX, LTC/TRX, XLM/TRX, and BTT/TRX.
We will introduce quality assets based on TRON, such as DApp assets in the TRON’s ecosystem. This also means that more projects in the future can choose TRX trading pairs, providing a more diverse choice for the project side’s liquidity.
Mars Finance: Specifically, what type of assets does CoinTiger prefer to introduce?
Frank Ling: This is actually a two-way selection process. For exchanges, liquidity services need to be provided to all project parties, essentially to help the asset match the best buyers and sellers. In regards to how to choose quality crypto assets, we have a bottom line. Some assets cannot be listed, such as “copycat” or forged currencies, problems discovered in some of the project contracts during the background investigation, and also the huge instructive difference between the whitepaper and the project itself is not acceptable on CoinTiger.
Of course, not every project is perfect but CoinTiger’s bottom line is to introduce high-quality currency based on its market performances, such as its user base and market awareness & preferences.
Moreover, CoinTiger will open up fair opportunities to the project parties and at the same time achieving a win-win condition with comprehensive considerations.
Mars Finance: Based on the new market environment, what is CoinTiger’s business strategy for the next step?
Frank Ling: We will be giving the best shot to assist every project parties, as the purpose of the liquidity service is not to attract users to the exchange but to convert their tokens to FIAT or other tokens directly into their own apps, so the exchange actually needs to penetrate in every app.
In a certain sense, there are many cognitive pitfalls in the decentralized world. For example, people always think that in a decentralized world, there should be many decentralized exchanges. In fact, decentralized exchanges are not prepared for people, but for application devices, as well as some automated services.
Apart from the liquidity of spot trading, the exchange’s ability to export its capabilities to other application devices is also necessary. To connect more users or devices, it is unrealistic to bring all users to the exchange. Allowing users to redeem FIAT or USDT quickly in its own app while circulates the token flow through the whole system, is the main focus of an exchange.
We tried IEO in the early February last year and gained a lot of attention and traffic. Meanwhile, we also realized there are risks brought by IEO as it actually might affect the credibility of the exchange. It is actually bound the asset’s performance to the credit of the exchange, which means the assets is somehow endorsed by the exchange. Therefore, CoinTiger will be cautious about the launch of IEO. We’re more willing to launch it during a relatively bull market in order to ensure users’ interest.
At the same time, we will also launch some investment products for the project parties by TIGER Bank and help them to lockup tokens in the bear market period, as part of the listing service. CoinTiger will also invest in some projects and help them to implement their application scenarios.
Secondly, The Actual Bear Market is Over
Mars Finance: in today’s China market, the platform currency issued by the exchanges have a significant pump in price recently. What is the reason behind it? How should we look at the platform currency now?
Frank Ling: As the pump of platform currency, everyone begins to realize that issuing crypto assets is essentially centralized matter. Crypto exchange is one of the few businesses with a clear profit model and positive cash flow. The pump of platform currency is a natural reflection of where the money goes to in a loose environment. It is surprising just because the bear market has been so long. From my perspective, the evaluation of exchange in the current stage is not that high.
Of course, short-term speculation factors are not ruled out in this case. Launching IEO projects shouldn’t be the main reason for the pump of platform currency. People should pay more attention to the value of the IEO project itself.
Mars Finance: In the crypto world, what role will be the platform currency play in the future?
Frank Ling: The platform currency has many application scenarios. For now, it will integrate the following aspects: Firstly, Utility Token with functionality, such as commission fee deduction, qualification and rights to participate in certain programs, etc.; secondly, it brings value itself. As the business of exchange grows, the value of platform currency goes up accordingly; and thirdly, platform currency could be the intermediary currency for payment or clearing. This is yet to be further evaluated and judged depends on the market situation.
Mars Finance: At present, many exchanges are developing their own public chains. What do you think of this? What role will the future exchange public chain play?
Frank Ling: In essence, the public chain is the exchange, which is equivalent to the securities company in the stock market and is responsible for asset liquidation. We are aware of public chain developed by exchanges since last year, but the launch and application of it will be relatively slow.
Is it necessary for exchange to become a public chain? That is a good question. Whether it is necessary for every exchange to become a public chain and create a decentralized exchange is still uncertain. We can only play a waiting game, from the actual operational standard, we don’t think it is necessary for now.
The business of the exchange itself is considered as a cross-chain asset exchange. If the exchange launches its public chain, it would become the cross-chain clearing business of assets and a competitor of other projects.
Mars Finance: The entry of major institutions such as JP Morgan Chase and Facebook has aroused widespread concern, but the entire market seems to be in sideways volatility. What is your prediction in the current market?
Frank Ling: The entire global financial market in 2018 has turned to bear from the bull, so don’t be over pessimistic. As for the cryptocurrency market, I believe that the first half of the year would be peaceful. Until the second half of the year, there may be a huge change in the industry, mainly because the tight monetary policy might come to an end. At that time, the crypto assets represented by BTC will become a category of great currency. Giants will definitely be involved in this field because it is impossible to give up the lure of this market. My conclusion, the real bear market has passed. Therefore, investors should now be greedy and not afraid of it.
CoinTiger is a global and innovative digital assets exchange platform which provides multi-cryptocurrency trading service including multi-language support for blockchain enthusiasts around the world.
Since the platform was launched, it has continuously iterated with a steady upgrade and now has an increasingly mature ecosystem comprising web, iOS, and Android clients application and comprehensive exchange services including cryptocurrency trading, Ticker Capital, Labs, IEO, and voting for listing program. Currently, CoinTiger users have topped 1.8 million and are from more than 40 countries and regions in Asia, North America, Africa, and Europe.
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