- According to WazirX, STORJ/USDT trading was set to commence on July 24 10:30 AM UTC.
- Kraken exchange also listed STORJ alongside COMP, KAVA, and KNC.
- Kraken noted that these listings aim to help its clients dip their toes in the DeFi sector.
India-based WazirX exchange has added support for Storj (STORJ), a crypto asset that runs a blockchain data storage solution. The exchange unveiled this news via a tweet on July 23, noting that it would pair STORJ with USDT.
The tweet read,
“@storjproject is listing on #WazirX $STORJ/USDT trading starts at 4 PM IST today. We’re giving away 35.59 STORJ each to 3 lucky people who: 1. Retweet this tweet 2. Reply to this tweet & mention 3 friends in the reply. Valid for 24 hours!”
⚡ @storjproject is listing on #WazirX ⚡$STORJ/USDT trading starts at 4 PM IST today.
We’re giving away 35.59 STORJ each to 3 lucky people who:
1. Retweet this tweet
2. Reply to this tweet & mention 3 friends in the reply
Valid for 24 hours! pic.twitter.com/PcgZfEhgzN
— WazirX (@WazirXIndia) July 23, 2020
STORJ’s popularity continues soaring
This news comes after San Francisco-headquartered Kraken exchange published a blog post on July 14 disclosing that it had listed three new tokens; Compound (COMP), Kava (KAVA), Kyber Network (KNC) and had plans to list Storj (STORJ). Finally, on July 23, the exchange shared in a tweet that it had successfully added STORJ.
Per the tweet,
“#STORJ is one of the newest assets now trading on Kraken.”
#STORJ is one of the newest assets now trading on Kraken.
Learn more: https://t.co/kqWP1TLsTn pic.twitter.com/aMmMlAwYJL
— Kraken Exchange (@krakenfx) July 23, 2020
Tapping into DeFi
Per Kraken, the addition of these coins is part of its wider goal of keeping its clients on top of what transpires in the fast-moving crypto space.
Explaining why it was important to list the four tokens, Kraken said,
“One of the biggest trends this year is the growth of the decentralized finance (DeFi) movement, an emerging class of cryptocurrency projects that use blockchains to offer lending and market making services operating without financial intermediaries. These services have seen staggering growth over the last 12 months, growing 400% to hold over $2 billion in value, according to DeFi Pulse.”
As a result of this rapid growth, Kraken listed the four tokens to ensure its clients have a fair chance to participate in the DeFi space.
In the blog post, the exchange noted that it would offer four trading pairs for each asset in USD, EUR, Bitcoin (BTC), and Ethereum (ETH). The firm added that it intends to offer more assets.
Kraken went on to state that its users should trade cautiously, adding that they should limit orders after trading starts as the markets may be illiquid. The exchange further cited that listing the tokens was not an investment recommendation. As such, Kraken warned that all investors should research before investing to minimize losses.