Reputed digital asset exchange CoinAll announced the incorporation of Algorand (ALGO) digital coin into its offerings. This development was on 21 June.
CoinAll threw light on the trading pairs that would be eventually supported which include ALGO/Bitcoin (BTC), ALGO/ETH (Ethereum), ALGO/USDT (USD Tether), and ALGO/USDK. CoinAll informed that the team behind Algorand includes Turing Award winner and other such peak performers. CoinAll noted that the academically strong team proposed a new solution for consensus mechanism which could solve many of the inherent problems of blockchain.
A CoinAll representative cited –
“CoinAll is committed to bringing high-quality and high-potential projects globally to facilitate in-depth partnership with the popular projects in the industry. We are happy to be the first exchange to list Algorand, and we hope to bring more quality projects like Algorand to our users.”
CoinAll captured the associated workflow wherein Algorand launched its mainnet and announced its partnership with CoinAll. The digital asset exchange opined that ALGO had been designed to overcome the hindrances associated with blockchain. CoinAll further added that ALGO is decentralized, large scale and secure. ALGO also distinguishes as the first blockchain that provides real-time settlement. CoinAll indicated that apart from the Turing Award winner, the team consisted of personnel of great repute including the core developer of Ethereum Virtual Machine.
CoinAll sustained by adding that the first auction successfully raised over 60 million U.S. dollars. The digital asset exchange shared statistics that the total supply of ALGO would reach 10 billion in the first five years of operation. CoinAll shared a vital comparison with Ethereum. The total market cap of ALGO is close to 24 billion U.S. dollars and is close to Ethereum.
Recently, cryptocurrency exchange OKEx announced the listing of its native token OKB on Bitfinex. Apart from supporting OKEx, Bitfinex also supported USDK, a stablecoin developed in collaboration with OKLink. The token was launched due to the secret development of their public blockchain.
CoinAll shared a note stating that it was a strategic partner of OKEx. CoinAll conveyed that it shares OKEx’s world-class security, system, trading depth, and liquidity. CoinAll shared data that OKEx has a 20 million user base and OKEx users could directly connect to CoinAll. The digital asset exchange added that OKEx provides round the clock customer support worldwide.